Now that Senator Chris Dodd (D- Countrywide) has admitted to amending the stimulus legislation so that the AIG bonus payments could be made House Speaker Nancy Pelosi is adding the finishing touches to the rankest display of craveness and hypocrisy exhibited in Washington in years.
Speaker Nancy Pelosi issued the following statement tonight on legislation the House will vote on tomorrow to hold companies, including American International Group (AIG), accountable for the bonuses that were paid to their executives. The legislation will recover the bulk of these bonuses by taxing them at a rate of 90 percent. Below the Speaker’s statement is a brief fact sheet on HR 1586 and click here to view the text of the bill.
Of course the upcoming FNMA and Freddie Mac bonuses are no where mentioned in this targeted hit piece of legislation that brings new meaning to the moniker “duplicitous pol”. I guess we should have known that when President Obama claimed that 95% of taxpayers would get a tax break he really did intend to hammer just a special few.
Here’s to hoping Pelosi’s bill is heard by the Supreme Court and AIG (i.e. the U S government) gets saddled with double or treble damages. It is obvious in this instance that Congress and the Obama administration have a difference of opinion on who was responsible for what in this sordid affair (witness Dodd tossing Treasury under the bus), but guess who is the real victim? The taxpayer, brought down again by the law of unintended consequences and the well nigh moronic behavior of Democrats in Washington.