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Overnight Open Thread

425
3 wood3/23/2009 4:24:17 am PDT

Ooops, Obama is discovering that there is this inconvenient truth known as the Constitution that is getting is his way of marching us into becoming the Soviet Union:
Administration: Changes May be Needed in 90-Percent Tax on AIG Bonuses

White House economic advisers said Sunday that President Obama won’t “govern out of anger” despite calls for the heads of AIG executives who received bonuses, and acknowledged that using tax law to get back $165 million in government-funded bonuses may be “a dangerous way to go.”

Those officials said the economy will return to better days soon, but suggested the House-backed plan to tax American International Group Inc. executives’ bonuses at a 90-percent rate may have to be modified in the Senate.

“I think the president would be concerned that this bill may have some problems in going too far — the House bill may go too far in terms of some — some legal issues, constitutional validity, using the tax code to surgically punish a small group,” said Vice President Joe Biden’s economic adviser Jared Bernstein said on ABC’s “This Week.” “That may be a dangerous way to go.”

Just give them time, the Constitution will end up in the trash heap along with the economy eventually.

In the meantime, Obama will be identifying his supporting special interest groups as “shovel ready” projects.