"This week, Treasury Secretary Timothy Geithner sent a letter to Speaker Nancy Pelosi promising to punish AIG for the bonuses. In his letter, Geithner wrote that AIG will have to pay back to the Treasury “the amount of the retention awards just paid.” And, “In addition, we will deduct from the $30 billion in assistance an amount equal to the amount of those payments.”
I hope you don’t miss what has happened here. This leftwing administration and its liberal allies in Congress approved of the AIG contracts, protected them legally in the “stimulus” bill and now they are going to “fine” AIG for obeying the law they wrote. That’s Washington at its worst!
But Obama and his liberal allies, rather than admit they caused the bonus problem, went back to the strategy that has worked so well so far – attack business, Wall Street, executives, and fan the flames of class warfare.
President Obama did his best imitation yesterday of a Latin American demagogue, telling a campaign rally (which campaign is this?) in California that families earning more than $250,000 a year “can afford” his tax hikes. “It’s not like suddenly they’re going to have to go to the poor house. But what that does is it allows us to pay for health care…” Translation: Anyone who fights against higher taxes doesn’t care about the sick and suffering.
For anyone falling for this, consider this fact. If you are a family of four living in New York, California or a lot of other high tax states and you earn $250,000, after state, local and federal income, sales and property taxes, you are fortunate to have $125,000 left BEFORE Obama raises your taxes. Does anyone think those “rich” people are why we are in trouble today?
The great British Prime Minister Margaret Thatcher once rightly observed, “The problem with socialism is that eventually you run out of other people’s money.” That’s one lesson Washington liberals refuse to learn and Barack Obama seems determined to test."
Gary Bauer
Campaign for Working Families
I hope you don’t miss what has happened here. This leftwing administration and its liberal allies in Congress approved of the AIG contracts, protected them legally in the “stimulus” bill and now they are going to “fine” AIG for obeying the law they wrote. That’s Washington at its worst!
But Obama and his liberal allies, rather than admit they caused the bonus problem, went back to the strategy that has worked so well so far – attack business, Wall Street, executives, and fan the flames of class warfare.
President Obama did his best imitation yesterday of a Latin American demagogue, telling a campaign rally (which campaign is this?) in California that families earning more than $250,000 a year “can afford” his tax hikes. “It’s not like suddenly they’re going to have to go to the poor house. But what that does is it allows us to pay for health care…” Translation: Anyone who fights against higher taxes doesn’t care about the sick and suffering.
For anyone falling for this, consider this fact. If you are a family of four living in New York, California or a lot of other high tax states and you earn $250,000, after state, local and federal income, sales and property taxes, you are fortunate to have $125,000 left BEFORE Obama raises your taxes. Does anyone think those “rich” people are why we are in trouble today?
The great British Prime Minister Margaret Thatcher once rightly observed, “The problem with socialism is that eventually you run out of other people’s money.” That’s one lesson Washington liberals refuse to learn and Barack Obama seems determined to test."
Gary Bauer
Campaign for Working Families
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