Senate will delay action on bonuses tax , not to mention Geithner and the President himself are backtracking on the House action.
The arguments about breaking contracts between employers and employees is bogus. If it had meaning, my real estate tax increases could not cut my raise in half. The retroactive tax argument is bogus. A bonus paid in 2009 is current year taxable earning. The argument that it is not constitutional is the biggest crock of them all. Cigarette taxes, liquor taxes, skims from lotteries are all punitive taxes, and legit. And lets just wait until carbon credits roll, which will be the biggest social engineering tax of them all. These are all Wall Street arguments floated to save their bonuses!
Are we finally seeing tranparency? Is it transparent now the Congress and the Administration listen to and work for Wall Street, first and foremost? If they work for all Americans, then they should act on all our behalf. The House did, this time!
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