Wednesday, March 18, 2009

Be afraid. Be very, very afraid.



The louder these phoneys like Obama, Reid, Dodd, Schumer and Frank sound off in their typical Democrat faux-outrage the more I become worried.

You see, this is obviously a wag the dog type of distraction.
But to what I haven't a clue. The fact that AIG has distributed almost 50% of the $180 Billion to overseas banks has gotten attention, albeit less than the 1/10 of one percent given to the key players to keep them from jumping ship and sinking AIG.
And people know that when TARP was constructed this money was designed to provide, among other things, these retention bonuses, which are really additional compensation if the employee resisted the natural urge to jump ship; AIG disclosed this to regulators, including the Senate Banking Committee. That is why Dodd stripped the provisions blocking bonuses to financial institutions receiving TARP monies, because those retention awards were necessary.
And there is more to it than typical liberal class warfare. Sure a few articles had headlines screaming about tax dollars making millionaires... but the people who made the million dollar bonuses are already millionaires. And the reaction and outrage is too over the top... after all Congress just awarded 4 BILLION in monies to community based groups in Porkulus; $187M is less than 1/2 of one percent of the money going to ACORN et al.
So today Tim Geithner came up with a solution. AIG will have to give back the amount of the bonuses to the Treasury and have the same amount deducted form the next check the government will give them, in effect making them pay the government twice. Fact check: the government owns 80% of AIG using Geithner's figures. So AIG is paying $74 million, and the taxpayers are contributing $300M. That's like giving yourself an atomic wedgie and thanking yourself for it.
And while we are at it, there has been no mention of the taxes paid on this money. Assuming that these bonuses were all over $250K, a good assumption as they went to the top people in the company, everyone paid an automatic withholding tax of 40% to the federal government, AIG is also liable for their part of the wages. And on top of the federal withholding is state and city, so more than 60% was gone before the employees saw it.
And that leads me to the most egregious thing of all. Even worse than the thing this false flag operation is designed to cover.
And no surprise it has to do with taxes. Several congressmen and senators said they planned on introducing legislation designed to penalize anyone who received a bonus and didn;t give it back. Fact check: if they ga ve the money back they would still be liable for the federal taxes on it. YOU CANNOT GIVE MONEY BACK TO REDUCE YOUR TAX LIABILITY. So if they gave 100% of their money back, it would still count as income and they would have to pay income tax on it.
But the fact that Reid, Dodd, Frank, Pelosi and other are mentally retarded is not what concerns me.
The most HEINOUS aspect of this proposed legislation is that it crafted federal law to punish people who were innocently doing their jobs. They didn't ask for the retention bonuses; they were offered them. It is nauseating enough that the government regularly drafts custom legislation designed to benefit private citizens and corporations. But when it TARGETS individuals we have truly lost our Republic.
I have made it known that I am against the practice of capital punishment; I do not belief that state should have the right to take the life of one of it's citizens. However, I make an exception for corrupt politicians who overstep their constitutional authority to protect the citizens as outlined in the constitution and instead persecute them.
They have violated their oath to uphold the constitution and have violated the public trust. Their actions are nothing short of TREASON. They should be dealt with in the same fashion as traitors.

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