ABC's George S. is reporting that the AIG tax won't make it through the Senate.
Let's hope he's right. The tax on bonuses is lame. The only way to solve the problem is solve the problem, not go backward.
Unfortunately, the media saw a good story and helped stoke anger at AIG, which led to the faux outrage by congressional leaders, who jerked a knee and popped out a stupid tax that passed the House. Even Eric Cantor voted for the tax. I actually double checked that with another source because that's shocking-Mr. No Taxes Ever cowed to such a lame tax. He'll tax bonuses but won't accept a tax to improve healthcare? What a dud.
Anyway, taxing bonuses is not the answer. Some even say its constitutionality is questionable. AIG is an itty bitty part of the problem. Fixing the system within which AIG operates will help solve the problem.
