Americans are outraged that AIG issued $165 million in bonuses to their top executives. This money came from the bailout to the beleaguered insurance giant. Congress responded to the rage with kneejerk legislation aimed at retrieving the money by taxing the corporate fats cats 90%.
This without any review as to who got what and for why.
You can always count of Congress to lead the curve on acting without thinking.
Does this mean they can tax anyone what they want without any review?
It’s within their constitutional power to do so.
But you’d never see them going after the Pentagon or Israel.
Me?
I don’t pay any taxes.
Why?
I filed a dead person report in 1978.
My sister asks what will I do when I get to 65.
“Social security?”
“Yes.”
I don’t think dead men get pension and neither should zombie businesses receive federal money.
But what does a dead man know about finance?