Obama Opposed To Tax On Bonus'

In a move that almost knocked me out of my chair Obama has stated his disapproval of the 90% tax on the AIG bonus'. I would expect any rational person to be opposed to the tax but especially a person who's administration approved them.

There is still hope Obama will adhere to the constitution and veto the bill that contains the 90% tax. The AIG employees signed retention contracts that promised them bonus' if they continued to fill their dead end job until a certain date. These brilliant people knew not only that their job was very short term but they also knew the economy was headed toward the tank. If they were not promised a substantial bonus they would have moved on to another job and left AIG, and yes that means you and I the tax payers, high and dry. In this country we have contractual law and it must be followed. The day we stop adhering to contracts people might as well move to Iran to do business.

Now I put my political capital on the line and said Geithner would be out of a job by the end of today. He has proven himself to be unable to manage the treasury and his office forced Chris Dodd to put the language in the bill that allowed the payout of bonus' to AIG employees. I think Geithner may survive today but do not expect him to make it through the end of the month.