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90% AIG Bonus Tax Is Wrong—Taxes Are Not A Punishment

The 90% tax on AIG bonuses passed by the U.S. House of Representatives yesterday is  wrong.

Taxes are not a punishment. It is an honor to pay taxes in a free society.

If government can retroactively tax one group of people it does not like at a 90% rate, it will be able to do the same to some other group down the line. 

Progressive taxation, where the wealthy pay more because they can afford more, is fair and just. It is how we pay the expenses required to maintain society.

Taxes as a punishment are an injustice. Such taxes are step towards repressive government.

Shamefully, 85 of 172 Republicans in the House voted for this measure. They talk a lot about oppressive taxes and intrusive government. Yet on one of the few times these often-paranoid notions have merit, they run like cowards.         

If a criminal act has occurred with these bonuses, then prosecute.

If the bonuses are wrong, as they are, take steps to stop them from happening again.

But don’t punish people who engaged in legal acts with a measure that could lead to attacks on political dissenters or some other controversial or unpopular group at some later time.

March 20, 2009 Posted by | Politics | , , , , | 2 Comments