Bananas

Don’t Shoot Me. I’m Only The Taxpayer

I was taught that the power of the federal government is limited.  We all were (or should have been) taught that.  I’m starting to wonder ’bout that, and so is John Hinderaker at Powerline.

I’m stupefied to find that some people are defending the constitutionality of Nancy Pelosi’s discriminatory, confiscatory and retroactive tax on people who receive bonus income from companies that got TARP money. I would have considered it a bright line rule that the government can’t identify a class of unpopular people and impose a special tax on them. What’s next? A 100% income tax on registered Republicans, retroactive to last year? If Pelosi’s bill passes muster, why not?

He provides a great example to demonstrate that this is indeed happening.

Wells Fargo didn’t want any TARP money, but the government forced it to take more than $5 billion worth, so Wells Fargo employees who receive bonuses would be subject to Pelosi’s proposed tax. Say you’re a teller at a Wells Fargo branch in Minnesota and you’re married to a lawyer who makes $250,000 this year. You get a $10,000 bonus for your good work during 2008. The government steals it all (90 percent federal plus 8.5 percent state plus, unless it’s included in the 90 percent, 3 percent Medicare). That is simply insane.

Actually, I think the word he’s fighting for at the end is “unconstitutional”.

But what do I know? I’m only the taxpayer.

Advertisements
Explore posts in the same categories: domestic, politics

2 Comments on “Bananas”

  1. Becky Says:

    Bank tellers get bonuses? I know, I’m missing the point 🙂

  2. joe Says:

    Hum… I know that some tellers should get hazard pay too, like the military. Maybe that counts?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: