POLITICS TRIUMPH OVER ECONOMICS: US Congress to Tax Bonuses
US Congress of morons wants to enact a law to tax Bonuses AKA Retention Awards rather than enacting the law there can not be any Bonuses or Awards as long as Companies are in loss. If this Law would have been there it could have stopped GM from distributing Bonuses in those 8 years when it lost more than $74 billion.
We run a Check Cashing business in the most (legally) corrupt & racist state of New Jersey in the entire world since 1999. This state in 8,000 sq miles for 8.5 mil residents has 588 governments with 9,000 Elected Scoundrels & over 400,000 Employees in 566 racially segregated towns. This state also boost for $35 billion state budget & $38 billion local budget with $150 billion in deficit and 250,000 students, who can not read, write, add, subtract and divide. Besides my self and my wife, we had 2 full time & 1 part time employees in the beginning of 2008 when the economic down turn took an ugly turn. In March 2008 we eliminated the Part timer’s Job; in June both husband & wife took a 16% pay cut and in Aug. eliminated 1 full timer’s Job also. In the end for 2008 our business made a profit of over $500.00 and we did not put any money in our profit sharing & retirement plans other than the premiums paid for Life Insurance Policies in these Plans. When both of us who have never been to any law school or Business School understand that you can not spend more than what you are earning why can’t these attorneys & big business owners running our Congress understand this simple concept? Then the Pirates from Harvard & other prestigious Business Schools how they can demand Bonuses or Retention Awards or plush offices or membership to expansive clubs or corporate Jets when their companies are loosing money rather they have run their own companies into grounds?
If the economy ignorant morons in US Congress have made it a law that no bonuses, no renovation of offices, no fancy parties, no corporate memberships of expansive clubs and no Corporate Jets for CEO’s if the Company is under loss; It could have stopped GM to distribute Bonuses in those 8 years when they lost more than $74 billion. Again rather than doing that Congress of morons want to tax Bonuses which they know in the Court of Law Pirates can get it defeated very easily with the help of con Attorneys. It clearly proves in America Politics Triumph over Economics.
Rather than Bonuses or Retention Awards to Pirates; every Americans must demand that all Wall Street, Bank and Auto Companies CEO’s from womanizer President Bill Clinton (of Monica Lewinsky fame) era when this loot actually started with his Community Redevelopment Act & Commodity Futures Modernization Act. to buffoon George Bush era who said he wanted to see more Home ownership in America with Pulse only Loans popularized by Ameri Credit must be put behind bars and their & their family member’s assets must be confiscated. This must be applied to all the Politicians and Bureaucrats regulating these CEO’s during Clinton & Bush era with top on the list the likes of Allen Greenspan, Barney Frank, Roy Blunt, Judd Greg, Rahm Emanuel & Henry Paulson, Charles Prince, Vikram Pundit, Ken Lewis etc.
For God’s sake don’t keep them in American Jails send them to 3 rd world country Jails where they have no beds and no fans in summers as well as heating in winters. Let these Ponzy Kings understand the real meaning of Jails. This will send a message to every one that Crime never Pays. Tax Payers will have a huge savings paying less than $10 per day vs. $120 per day for Ponzy Kings in American Jails.
Comrade Obama can you make sure all the guilty Ponzy Kings along with Politicians and Bureaucrats responsible for current financial melt down are brought to Justice?