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Universally despised insurance firm AIG would seem to have at least one friend -- a friend in a very high place indeed.
Congressional Black Caucus founding member Rep. Charles Rangel (D-NY) has raised some eyebrows by questioning whether it is right to heavily tax the bonus payments AIG execs received from taxpayer funds.
Some have even said Rangel, the House Ways and Means chairman, is protecting AIG because it is a New York-based firm.
Nonsense. ...
Rangel is right to question the propriety of putting an 80 or 90 percent tax on the ill-gotten bonuses. Yes, it is sickening that our tax money was used in such a shameful way. But using such a back-door method to twist the tax code into doing what feels good in the short-term but is ethically wrong would be a mistake.
What happens the next time some unpopular faction receives a gift at the public's expense? Do we simply tax the hell out of it to make the problem go away. The problem is that using the tax code as a baton could devolve into a political game -- giving the majority party the power to tax whomever it doesn't like.
The problem with the AIG mess is that the same government officials who were supposed to be watching our money goofed. They didn't put any strings on our money. AIG totally outflanked them.
Now, members of Congress and the federal government want me to get all upset at the insurance company for doing business as it sees fit. It's slimy business, true, but where were our government protectors when we needed them?
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Comments: (20)
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By: tired of poor me attitude on 3/20/2009 7:31PM
Charlie Rangel is a lying cheating crook. He has been ripping off the public for years and got caught. He will be elected again because Blacks don't care about criminal behavior from black people. Look how many blacks know thieves and drug dealers and never raise a finger to turn them in. Live with what you deserve, wretched criminals.
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By: eric on 3/20/2009 11:19PM
I agree with you! Charlie's been on the corporate payroll for years now, he's just another in a long line of "so-called" black leaders that are on the take, and could care less about our people. but, the real problem is our people for only contiuing to support these thugs in $500 suits that hold elected offices! Until we as a people wake up...which sadly doesn't appear to be anytime soon then this sad display will only continue! BV's is also a part of this process to keep black people in the dark they're becoming more and more like FOX NEWS everyday! They only promote conflict between our people in this site...especially between BM and BW.
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By: Raatib on 3/21/2009 3:23AM
Oh,please! You drama queen. We all know how tricky contracts can be; but moreover, so do the tricky republicans that allowed this to happen. Blacks should not be put in the category of overlooking criminal behavior. We are just mindful of the fact that politicians are not gods but people who sometimes stumble. Because we forgave President Clinton does not mean we did not think he wasn't doing a wrong to Hillary. So come on and get over yourself, already.
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By: bob on 3/22/2009 12:01AM
if the so called leaders want to do a good thing for this country and the peaple, pay your own Health Care and your retirement. with that said, you don't have to be black to know who a drug dealer is or a criminal.why don;t you turn someone in.we all know that this was our Lawmakers mess.it is not just George Bbush. they all new and did nothing about it.end of story.
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By: mrrobert1954 on 3/20/2009 8:03PM
why cant we talk about the country problem and come up with answer,take aig.let suppose that aig was use to insurance ever one.that would be the responsibly thing.i dont want to here about this electtion time.no vote,
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By: Reason on 3/20/2009 9:37PM
Chairman Charles Rangel is a Korean War Hero. What has "tired of poor me attitude" contributed to this country (apart from ignorant internet posts)?
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By: tired of poor me attitude on 3/23/2009 12:12AM
Serve in a war and get a free pass to break the law? He is a crook and under investigation from the ethics committee. He us a liar, thief and cheat, your kind of hero?
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By: ED on 3/20/2009 10:29PM
A month ago all these chuckleheads in Congress were laughing about how they never read the stimulus bill.
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By: Jessie on 3/21/2009 1:47AM
"The problem with the AIG mess is that the same government officials who were supposed to be watching our money goofed. They didn't put any strings on our money. AIG totally outflanked them." Paul Paul Paul sigh. If by "protectors" you mean Obama and Geithner, they didn't "goof". LOL They made sure AIG execs got those bonuses. Geithner changed the writing to insure that they did. That's not a "goof". It was wholly intentional. Obama must've really appreciated all their campaign contributions. No one else is responsible but I don't think I'd be calling them "protectors". It's funny how Democrats can't process their politicians paying off rich execs.
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By: Really? on 3/21/2009 9:53PM
White people have ruined this country with their mismanagement of every single aspect of governance. Rome fell, the British empire collapsed, and now this country. The only thing white people are good at is war and fighting other peaceful countries. Let's remember the countries whites have destroyed with their "colonization". The world will be a better place in a couple hundred years when "white people" will not exist due to interracial relationships and their inability to have children. LOL Look it up, their population is DECREASING! And the world will have new super powers such as Brazil, Russia, India, and China. So, next time you hear some garbage from a white person, think quietly to yourself.....your race is dying...hehehehe
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