I know we are all ticked off by AIG giving out bonuses to employees. True, AIG behaved in a reckless and ridiculous manner, clearly highlighting the vast gulf between the mindset of some American financial executives still living in the Land of Make-Believe and the rest of us living in the disorienting Land of Recession. But really. A retroactive tax? As Senator Judd Gregg stated on Friday, it is wrong “to propose to use the taxing authority of the government in a manner that is arbitrary, punitive, and targeted on a single group of people.” I also like John Stewart’s description on Thursday’s Daily Show, “Congress got together and opened up a can of dumbass.” The people who rode along with the Bush Administration, helping to dismantle meaningful financial regulation, now want to create “smart bomb” tax policy. Good luck with that!
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