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Populism Overpowering A Free Economy… Be Careful What You Ask For

20 March 2009 4 Comments

The AIG bonuses this past week have all the attention of the American public.  My opinion is that 1) None of this would have happened or mattered if we didn’t bail out AIG in the first place and 2) I’m so sick of politicians grandstanding for the cameras when they knew about these bonuses for months.  It’s such a joke.

Here are some comments I found on a recent article discussing the bonuses:

I’m all for it. Most bone-uses are undeserved/unearned anyway. Especially for those companies that got bailout money. Get our money back!

I think it makes sense. I’m never going to be making $250,000 a year in my house hold and that is alot of money to live on. I think its a good idea. Heck I would be happy making $100,000 for my household which isn’t going to happen anytime soon.

It good 90% Taxes to All Bonus especially who take tax payer money Like what Happened to AIG, Bank if America ,Citygroup,Bear Stearn,JPM Morgan,and other financial institution who received money from the tax payer pocket….. It is only fair……….Why ……they all cheated us……for the money we gave…..

I have no sympathy for those being taxed on their bonuses. Because of their effect on the economy, my company axed all bonuses and raises for the year, too.

These are just a hand ful of the populist comments that people across our country are shouting with regards to this situation.  Nevermind that we just allowed the Congress to break legal contracts because one party was undeserving of something.  Nevermind that we just allowed Congress to use the tax code as a political tool/weapon.

Look at the comments above.  People are so outraged that others are making more money than them.  It is unfair; however, I guarantee these same people that are outraged would keep the money also!  We only look out for ourselves these days, and we’re blind to what is truly happening.  Our government is trashing our economy.  Inflation, stagnant growth, and a bloated government… that’s our future folks.  Be careful what you ask for.

Are those bonuses ridiculous?  Yes!  Am I pissed?  Yes!  Am I going to let it cloud my judgement about what we are letting our government become and do?  Hell No.

Government should never run a private business because the government is politically motivated and that never results in a thriving business.

4 Comments »

  • Joel said:

    Couldn’t have agreed with you more. Its a disgrace that politicians like Dodd pretend they didn’t know about the bonuses when they themselves wrote the bill.

    Why are Americans so ignorant? Ron Paul should have clearly been President. The more I think of it, the more I realize that this country gets the government it deserves. We have a bunch of lazy and incompetent people which our government accurately represents. Nice blog keep up the good work.

  • Chris said:

    There was no contract broken. They get their bonus, then they are taxed on it. It’s not populism when we are paying for it.

    read mish shedlock and get a clue

    http://globaleconomicanalysis.blogspot.com/2009/03/ridiculous-whining-at-citigroup-bank-of.html

  • Kevin said:

    I think the bonuses are just as ridiculous. I just think we shouldn’t have gotten involved in the first place. Government can’t bail out companies without this kind of stuff happening, because now you have politically motivated people making business decisions.

    Not sure why you’re telling me to “get a clue” sounds like you’re bitter about something…