Friday, March 20

Unconstitutional AIG Bonus Tax

Image via Wikipedia
I admit I did not see the terrible unconstitutionality of some of the AIG bonus tax. I have been quickly understanding as a few bright people point out the issue. John from Power Line gives a great thought experiment: "how about putting a condition (retroactively, of course) on TARP money that says no employee of any bank that receives such money (or his spouse) can get an abortion? Would Nancy Pelosi think that's constitutional?"

This law is unconstitutional in two ways: 1. It is an ex post facto law (law making something criminalizing something retroactively). 2. It is a bill of attainder (a law made against an individual or specific group, in this case bailout business employees and punishing them without a trial).

I truly hope someone sues over this law.

I share the outrage over the bonuses. Government run businesses should never be doling out those sort of bonuses. At the same time the real outrage is the hundreds of billions the government has given to AIG.