Wednesday, March 18, 2009
...On the AIG bonuses
In a nutshell: Whatever those mid-tier AIG employees are getting in the way of contractually guaranteed bonuses is absolutely trivial when compared with the eventual cost of setting a precedent whereby Congress feels itself entitled to unilaterally, arbitrarily and retroactively abrogate legal contracts.
A Congress that thinks it is at all right and proper to retroactively tax into oblivion the proceeds from any business transaction legally and freely entered into by both parties is a Congress which is a threat to the liberty and prosperity of all Americans.
If the government is big enough to retroactively eviscerate AIG employees - employees who agreed to stay on and keep the company going in anticipation of these bonuses, rather than leave the company with no one to run it - then the government is big enough to go back and rape you for whatever you have, too.
Splash, out
Jason
A Congress that thinks it is at all right and proper to retroactively tax into oblivion the proceeds from any business transaction legally and freely entered into by both parties is a Congress which is a threat to the liberty and prosperity of all Americans.
If the government is big enough to retroactively eviscerate AIG employees - employees who agreed to stay on and keep the company going in anticipation of these bonuses, rather than leave the company with no one to run it - then the government is big enough to go back and rape you for whatever you have, too.
Splash, out
Jason
Labels: AIG, business, Congress, economy, finance, insurance, law
