Nothing Like a Little Unconstitutional Tax

It's always nice to see our elected officials passing another unconstitutional bill. Seriously, what the hell are we paying these guys for? Even the most liberal President in history is looking at this bill and backing away, with advisors saying, "the House bill may go too far in terms of some -- some legal issues, constitutional validity, using the tax code to surgically punish a small group." It's always fun to see a Democrat actually remember the existence of our Constitution.

Passing a 90% tax on executive bonuses is just ridiculous. I know there is a lot of outrage out there right now, but directing death threats at AIG employees is not placing the outrage where it belongs. If you want to blame someone for the bonus 'scandal,' look no further than the people who are now up in arms about it: The US Congress.

The worthless Obama stimulus plan included language that specifically allowed this type of behavior. Everyone knew it, including that brainless git Geithner. Geithner then brazenly lied to the public, saying that he didn't find out about the bonuses until March 10th or so, when there was a raft of documentary evidence to the contrary.

Besides, regardless of how much Congress whines about it, they not only allowed for this behavior, they enabled it. How? Simple. They did not allow AIG to fail when they should have. By enforcing the idea of a bailout, they artificially prolonged the life of the company. It's not like AIG got into the predicament they are in through outstanding management. Had they been allowed to go bankrupt, how many bonuses do you think that company would be paying right now? That's right, NONE.

One thing I have rarely seen mentioned is that even if the bailout bill had included language to bar these companies from paying bonuses, these payments would not have been affected. No matter how powerful Congress believes it is, it does not have the power to abrogate contracts. As these bonus payments were already stipulated by contracts, they were going to be made as long as AIG was still in business.

If the 'geniuses' in Congress want to fix the economy, here's a tip. GET THE HELL OUT THE WAY. The market will fix itself without any help from you. It always has.

Another Stimulus? Seriously?

Looks like the government (or at least part of it) is considering another stimulus package. Now, I was against both the stimulus bill that Pres. Bush passed last year, and the one the Pres. Obama passed earlier this year. As Wall Street is proving, there's really nothing stimulating about the bills that have been passed so far.

So, why another stimulus, and when will this happen? Former Clinton advisor David Gergen said to CNN's Anderson Cooper earlier this week, "I think the son of stimulus is on its way. It's going to be here sooner than we think. My bet is we're going to see a second stimulus much sooner than we thought." The folks over at Politico report that House Speaker Nancy Pelosi is receptive, even open, to the idea of a second stimulus.

If the Democrats in Congress and the White House really want to stimulate this economy, they need to do what the Republicans are finally suggesting: cut spending and then cut taxes. We're falling off a cliff toward an FDR-style government expansion here, and the only hope in sight is that the Republican Party can win enough seats in 2010 to be in a position to head off the vast majority of the first stimulus bill's spending, which won't take place until 2011 - 2012.

Here's hoping that happens, because we can't afford this kind of change.

Posting Drought

Well, it's been pretty slow around here. If you're wondering why, I'm working on transitioning all my gaming-related thoughts into a new project with some friends and past co-workers. As soon as we get everything lined out, I'll provide a link to the new project.

Since most of my gaming production will be transferring over there, I'll be filling my blog with random thoughts on other things, like politics, current events, weird news, and just about anything else. I hope you enjoy the change!