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| House sets up vote on taxing bonuses |
| 2009-03-19 |
| The House was scheduled to vote Thursday on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies that have received at least $5 billion in government bailout money. "We figured that the local and state governments would take care of the other 10 percent," said Rep. Charles Rangel of New York, chairman of the tax-writing House Ways and Means Committee. |
| Posted by:Elmomotle Graith7571 |
| #9 You have to admit itÂ’s ironic for Rep. Charles Rangel, an admitted tax cheat, to lead the charge of punishing people who have legally fulfilled a private contract through the tax system. |
| Posted by: DepotGuy 2009-03-19 14:06 |
| #8 I hope they do this and that one of the AIG "retainees" takes it to the Supremes. Its been a while since the Supremes have knocked the Congress down a peg or two. Another reason for a new Constitutional Convention. |
| Posted by: Jack is Back! 2009-03-19 12:54 |
| #7 I think they can under Amendment 16 - please check me on this...... U.S. Constitution - Article 1 Section 9 Article 1 - The Legislative Branch Section 9 - Limits on Congress The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person. The privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it. No Bill of Attainder or ex post facto Law shall be passed. "No capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or Enumeration herein before directed to be taken." (Section in quotes clarified by the 16th Amendment.) No Tax or Duty shall be laid on Articles exported from any State. No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another: nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay Duties in another. No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time. No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince or foreign State. U.S. Constitution - Amendment 16 Amendment 16 - Status of Income Tax Clarified The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration. |
| Posted by: Yosemite Sam 2009-03-19 11:37 |
| #6 Mountain you are so correct. That was the whole idea behind the financial crap of LBJ and Nixon and Carter. The buzz work was "bracket-creep" which became "bracket-gallop". Inflation pushed you into a higher tax bracket at the same time it was decreasing what your money could buy. Who makes the first real call for the pitchforks and torches? Sic Semper Tyrannis |
| Posted by: AlanC 2009-03-19 10:04 |
| #5 and when the inflation kicks in everyone will have their chance at being in the filthy rich over-250k tax bracket. Yea, even the dishwashers. |
| Posted by: Thing From Snowy Mountain 2009-03-19 09:00 |
| #4 Ditto Deacon. They know it alright, the language of the Constitution, but they are happily throwing fuel on the smoke screen and deflection fires. The bonuses were approved or permitted by them and represent a miniscule, (knat on arss of the bull olifant) fraction of the insanely corrupt bailout or more correctly....welfare program. |
| Posted by: Besoeker 2009-03-19 08:37 |
| #3 since when has the requirements of the constitution ever been a limitation on obama and his ilk? |
| Posted by: abu do you love 2009-03-19 08:33 |
| #2 No bill of attainder or ex post facto Law shall be passed. Apparantly, no one in the House has read this part of the Constitution. It means Congress can't pass retro-active laws and taxes and can't penalize anyone for something that was not unlawful before the law was passed. |
| Posted by: Deacon Blues 2009-03-19 08:29 |
| #1 scum. scum, scum, scum. 'Family incomes abouve $250,000' could easily include families where both parents work as, say, senior IT professionals. It's not uncommon for such jobs to be tied to retention bonuses ... you get paid less standard salary than normal in exchange for large bonuses if you stay. This is the single most hypocritical and destructive thing I've seen out of Congress in the last 5 decades. Against stiff competition. |
| Posted by: lotp 2009-03-19 07:44 |