Posted 11:19 PM by steve

Sad to see that Frank Wolf, my Congressman, voted along with the other clowns in seeking to impose a 90% tax rate on the bonuses paid to some AIG workers...

Is it because Wolf supports bringing the vast power of the federal government to go after a handful of employees, that he sees nothing wrong with targeting individuals who have done nothing other than work hard at minimizing the cost of the AIG bailout to the American taxpayer?

or maybe Wolf thinks that Liddy, who was brought in to run AIG and for the sole purpose of helping minimize the cost of the bailout to the American taxpayer, is an incompetent, stupid or corrupt fool who needs to have his decision making second guessed by a people who can't balance their own budget, who don't know how to read a financial report and have never run anything in which their business savvy was necessary to keep the business afloat?

or that Liddy is wrong when he states that he feels AIG (and thus the American taxpayer) comes out ahead by paying these bonuses, that looking to rescind the bonuses was going to cost AIG (and, I repeat, the American taxpayer) far more than whatever amount of the bonuses that could have been withheld?

or maybe Wolf believes people who honor their end of a contract (whether employment or any other contract) shouldn't honor the terms of their contract and don't deserve to be paid what the contract clearly states they are due?

or maybe Wolf believes that Congress not only has the right but the duty to interfere with the contract negotiations between employer and employee, and even when there are no allegations of employee intimidation, cronyism or anything but an employer and employee reaching a mutual decision as to an agreement that benefits them both?

or maybe Wolf believes he has some special insight into what forms and amounts of compensation an employer should and can be allowed to pay an employee?

or maybe Wolf doesn't care if these AIG employees, having had their compensation arbitrarily and capriciously taken away, leave AIG worse off by quitting and going to work for one of AIG's competitors where they use their knowledge of AIG's product book to make profits for their new employers, thus increasing the costs to the American people?

or maybe Wolf doesn't believe any of the above but is merely a coward in refusing to stand up against the Democratic demagogues in Congress and the loudmouths (of both parties) on talk radio who are screaming for the heads of the employees in question?

or maybe Wolf doesn't believe any of the above and isn't a coward but sold his vote for a few extra dollars thrown his way from House appropriators, perhaps for extending the DC Metro system to Dulles Airport?

No matter what his explanation is, his voting yes on this matter is disappointing. It is a shame that he either doesn't know better or he knows better and did it anyway. I expect the Democrats to pull stunts like this; it's extremely disappointing when guys with (R)s next to their name seem to not be any better.