No, not literally, but you might as well. It’s amazing how this administration, who can barely keep his party, the Democrats, under control.
I haven’t written in over a month because i have kind of been waiting for a break where I might be able to delineate from one crisis and another, but it hasn’t happened.
First, we dealt with the tax cheat, Tim Geithner, being appointed and approved, to the Secretary of the Treasure and, hence, the head of the IRS. This guy owed $34,000 because he claimed Turbo Tax didn’t catch what he owed for one reason or another - of course it wouldn’t, if he didn’t tell it about his expenditures.
Second, we deal with the bank bailout package, which was supposed to pull AIG back from the brink of failure. The insurance company was supposed to be too big to fail, for whatever that means. If it’s being run poorly, let it fail. That’s what the US Bankruptcy Courts are for. They were designed to do exactly what this company needs.
Third, we have the issue with AIG sending $20B of the US taxpayers bailout money to European banks. What does the US Government think this insurance company did? Obviously, they didn’t look very deeply into AIG’s business model. They insure foreign companies as well as US companies. If the foreign governments are afraid of the repercussions of AIG failing, let them cough up some money too.
Fourth, we have issues with AIG employees getting $426 million in bonuses. Yes, they had contracts for these retention bonuses. This a normal part of business.
Fifth, Tim Geithner and Chris Dodd point fingers at each other about who put the wording into the bailout bill that allowed the bonuses. Dodd didn’t, and then he did but with dates, then with no dates, then it was at the behest of the Treasury’s suggestion.
Sixth, in order to quell the public’s outrage at the bonuses, they try to invalidate and cancel the contracts. Geeze, can you imagine what it would be like to do business of any kind in the US if the govt was able to invalidate any contract they didn’t like?
Seventh, Congress and the Senate try to cover their butts and return themselves to the public’s favor by trying to figure out how to illegally write a tax that affects only those people falling into this specific circumstance. They write a law that allows them to tax the employer 35% of bonus, and then tax the employee 35% of the bonus. The whole concept of this tax is called a punitive tax which is illegal under the 14th Amendment, or the Due Process Clause. It’s funny how this bonus, having been honestly earned, is being taxed at a tax rate designed to take it all away. Some incentive to do better.
Eighth, The Appointed One comes out and says he takes responsibility for all that happened.
Ninth, The Appointed One says he bowls like a retard at the Special Olympics.
I don’t even know where to start on this. I guess the one thing that was never mentioned in all of the nonsense about the bonus packages is that these were officially identified as ‘retention bonuses’. Let’s discuss the common meaning of a ‘retention bonus’. A retention bonus is identified as a compensation given or promised to a person who commits to stay on with a company as they are swirling the drain. Basically, they are compensated for staying long enough to turn out the lights when all of their former co-workers were out getting the leftover jobs. Personally, I have always considered those getting the retention bonuses as the brave or dedicated folks. They risk not being able to find another job, and are usually compensated fairly well for this risk.
As you can see above, there are a lot of reasons to be very afraid of this current administration. They don’t care about what they are doing to the rule of law in this country, nor are they paying attention to any repercussions coming down the pike.
—>Gardie