Rep. Brad Sherman(D. Cal.) has introduced a bill in the House that would expand the 90% tax rate to the *salaries* of anyone who works for a TARP company on any amount over $500K. The Bommies are hopelessly hopeless, but can the rest of any other readership possibly see where this is going? Instead of "stimulating" the economy(remember that term?) Congress has now embarked on casting a pall of terror across the *entire* busniness community of this nation! Who in their right mind is going to do business with AIG at this point? Because if they are paid by AIG for their services, is that not TARP money?....subject to the evil taxing eye of a vengefull Congress? And the same holds true for *every* financial institution that has received any TARP money! TARP companies are quickly becoming the new lepers of the business community. How can that be defined as "stimulus"?
Secondly, there exists in the business community, very smart, and talented "fixers" who have made their reputations in turning around sour companies into solid, black-ink producers. Jack Welsh comes to mind, but there are many others. What do you think the chances are of a struggling TARP company bringing one of these guys on board for a pissant $500K a year? Answer: zero. So let's scratch another option that *was* available to the TARP pariahs. More "stimulus"?
So TARP money has quickly become the equivalent in the business community of a nice fat case of syphilis! Companies who refused it, or somehow missed a shot at it, are now breathing a huge sigh of relief! TARP money has Barney McCarthy, and Tim Geithner attatched to it! And not only are the *survivors* suddenly *very* happy that they don't have any, they shitting sure aren't going to do business with any company that might pay them with some! Who's to say the Barney McCarthy Taxing Circus might not decide to tax that at 90%?
March in circles around the AIG building, you dumb shits. Before this is over, the bonuses paid to AIG will be a fond memory of some tiny little amount to feel all nostagic about. Remember, the *reason* for the "stimulus" to frigging begin with? Has that gone away? No it hasn't. Is the banking/lending/credit crisis waiting patiently for Barney to get all his grandstanding out of his system? No it isn't. So as soon as you get *your* pink slip, go have a beer to ease that knot in your gut, and ask yourself a simple question, if you've got the nerve, depending on who you voted for. We know where the buck stops, right? We heard that for eight long years, right? So ask yourself, how's the *Obama* administration doing with dealing with the economy they inherited so far? The hand-picked genius tapped to lead the way, and set the course, Sec. Geithner, you like that ball-of-fire hot shot do you? pffttt... Finish your beer, and go picket AIG.
gus.
