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Sunday, March 22, 2009

IWA for Sunday 032209

OK. You can. WAIT you did what?

Hey folks,

It's Sunday, time for the IWA. This weeks winner is one that needs to lose his job. Even some Democrats are starting to call for his head. Here is a guy that put the authorization in the Bill to ALLOW the AGI Bonuses to be paid.

Then after they were paid, DENIED that he wrote the one sentence that allowed it. I guess some little Gremlin must have snuck in a typed in that sentence when no one was looking.

Then he said, Yeah OK, I did wrote it. But the Obama Administration said I had to.

Now it turns out that even after the show, with Obama standing in front of him, saying that no one here had anything to do with it, little Timmy is in hot water.

Yes, Treasury Secretary Tim Geithner IS responsible for this "outrage" over the Bonuses being paid to AIG Employees. He AUTHORIZED them. Now we have the House passing an unconstitutional bill to target Private Citizens, just a certain group of Private Citizens, with a 90 percent tax to STEAL the money back that Treasury Secretary Tim Geithner put into writing that they could have.

But not so fast there slicks. All please stand and applaud Sen. Jon Kyl of Arizona. Finally some sanity is rearing it's head in the Senate. He said this.

"I don't believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences," Kyl said on the Senate floor. "Frankly, I think that's how we got into the current mess."

{Clapping} Attaboy Senator. You are one hundred percent correct. Because of him and other Senate Republicans, the Senate will have to wait a little bit longer to bring this up again. According to the AP - Senate Republicans brake rush to tax AIG bonuses

WASHINGTON – Senate Republicans are drawing out a flap that has made the Obama administration squirm, applying the brakes to Democratic attempts to quickly tax away most of the bonuses at troubled insurance giant AIG and other bailed-out companies.

Sen. Jon Kyl, the Republicans' vote counter, blocked Democratic efforts Thursday evening to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last weekend and other bonuses in 2009. The House had swiftly approved its version of the bill earlier in the day.

By rushing, Kyl said, Democrats were letting populist outrage trump informed decision-making in the Senate, which is supposed to be insulated from the pressures of public passion.

Of course they will not give up.

Senate Democrats said they will try again next week to take up the tax bill and hope to complete it before April 4, when Congress leaves for a two-week spring break. Combining the disparate House and Senate versions of the bill might have to wait until after the recess.

The Senate voted last month to block the bonuses at AIG and other companies as part of the $787 billion stimulus bill, but Democrats then watered down the measure allowing them after Treasury Department officials warned that the move could trigger lawsuits against the government.

Again folks, Treasury Secretary Tim Geithner, which according to him was forced to by the Obama Administration, AUTHORIZED them.

Last week, when Treasury Secretary Tim Geithner couldn't talk AIG out of paying the bonuses, Republicans were quick to blame Democrats, pointing out that they were in charge of Congress and the department when the decision was made about bonuses and the stimulus bill. Democrats sought to regain the offensive — and stem the political damage — with promises to tax the bonuses away.

How to impose those taxes without running afoul of the Constitution or the law is a dispute that has Republicans urging a go-slow approach. Doing so, of course, would drag out the Democratic discomfort over administration missteps and provide plenty of time for the GOP and others to question Geithner's performance.

There is no need for more time to question Geithner's performance. He needs to leave. Remember, he did not even pay HIS taxes prior to being tapped for his current job.

Congratulations Timmy, for creating this mess, then attempting to sit back as an innocent bystander, you ARE the Idiot of the Week. Now are you sure that you have caught up on all YOUR taxes? You might want to recheck.

Peter
Sources:
AP - Senate Republicans brake rush to tax AIG bonuses

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