Well, we have another examples of the Democrats using scare tactics and rhetoric to stir the emotions of those of us not willing to think.
"The government stepped in last year with $150 billion because AIG was too big to fail," said Treasury Secretary Timothy Geithner.
The Nobama administration made it clear last year that AIG was going to be compelled to accept the money because “what would we do without AIG?”
Now that AIG accepted the poison pill they are suddenly on the chopping block for paying the bonuses they were contractually obligated to provide.
First, let’s look at the numbers: AIG received $150B and paid $165M in bonuses. The bonuses represent 0.11% of the amount received. Even if the entire amount were flushed down the toilet, I would challenge either Comrade Nobama or Comrade Grassley to show me even ONE government program with only 0.11% waste.
Next, let’s look at the employees: On short notice I could not find a current listing of the number of employees at AIG, but it must be hundreds of thousands. I cannot accept that some of those employees were not worthy and deserving of their bonuses. Granted, if I were the CEO or one of the 73 receiving million plus dollar bonuses, I might consider deferring acceptance, but to deprive all AIG employees of contractually promised bonuses is grossly unreasonable. Even with the 73, I would doubt any more than a half dozen or so had anything directly to do with their demise, but were more likely simply highly-compensated people in one of the financials units.
Finally, if Grassley is so outraged, then they should have just let AIG fail. And then, when all the assets were sold, and the creditors lined up to get their due, those employees (with their employment contracts in hand) would be right at the front of the line of creditors and would ultimately receive their bonuses anyways out of the liquidated assets.
This is simple envy from this Communists in Washington. And now, since they can’t get it from these employees legally, they will use the “theft by government” method to steal the money using the IRS.
I am now calling for anyone receiving any of these AIG bonuses to make a contribution to a fund to fight IRS fascism. Ultimately this failed social experiment referred to as a bailout will be paid for by the IRS extorting funds from our kids and grandkids; let’s fight this battle now and put an end to usury and government extortion. If you read this and know someone from AIG then have them contact me.
Our government needs to return to its lawful and Constitutional roots. As long as the Federal government has access to unlimited funds through the Federal Reserve’s (a private company) printing press and forced tax withholdings from private citizens, we will never see any attempt at fiscal restraint. The only way to put the governmental Pandora back into the Constitutional box is to kill the various unlawful applied taxes (to include the income tax) exacted upon the people and destroy those currently holding seats in either house of Congress, followed by a resounding defeat of Nobama in 2012.
A fool and his money are soon parted; it only took Nobama a matter of hours to be parted with BILLIONS of dollars. It is up to us to see he is quickly dispatched of his Presidency as well.
We must RESIST TYRANNY in any form we see it.