Well, Which Is It, Republicans?

2 comments March 23rd, 2009at 07:03am Posted by Eli

Are you the populist party that’s mad as hell about the AIG bonuses, or are you the corporatist party that will defend them to the death?

That was an easy one…

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.

“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.”

By defending AIG, they’re missing a golden opportunity to capitalize on popular outrage – but could they really do any different?  They have their principles, after all…

Entry Filed under: Corruption/Cronyism,Economy,Politics,Republicans

2 Comments

  • 1. Ruth  |  March 23rd, 2009 at 12:10 pm

    In the House, the Gang of Nope wanted to head the upsurge of revolt from the voters off into an investigation. Rangel was hilarious, said sure, go ahead and investigate. Meanwhile, we’re going ahead with something real. And they did.

  • 2. Ol'Froth  |  March 26th, 2009 at 4:37 pm

    Personally, I think a tax that is crafted to impact specific individuals is a monumentally bad idea. However, if they wanted to create a tax that affected ALL bonuses over a certain dollar amount, it would be a different thing.


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