In Gilbert and Sullivan’s Mikado, Ko-Ko is the Lord High Executioner. The position is a ceremonial one, but he sings a song about his list of potential victims, should the need ever arise in "As someday it may happen that a victim must be found".
I thought of Ko-Ko’s list when reading about the 90% tax rate on the AIG bonuses. [Yes I know it's more complex than that, but it's the weekend, and I'm not going to work real hard here.] I’m no fan of a 90% tax rate, but if one were enacted, I can think of a few victims I’d pick out, if a victim must be found. For example, I wouldn’t mind taxing campaign contributions to members of Congress from financial institutions at that rate.
Since it’s Saturday morning and I’m assuming no one’s in the mood to be working real hard either, I’ll put it to you–
Laying aside the constitutionality and morality of it all, what would you tax at 90% if "a victim must be found"?
If you need some inspiration, here’s Ko-Ko’s song: [Starting at about 2:15]
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Doesn’t it seem the new power in Washington has been looking for mikado? These people are all about diversion. Perception is reality. The phony outrage is sickening. A 5th grader would be insulted by this ploy. Igor says the clueless even know this would never pass a court test.
I would tax all household income earned by our sitting members of Congress at 90% until such time that we arrive at a balanced budget, Social Security and Medicare in the black, and unemployment below 4%.
Freemonster-
Speaking of the difference between perception and reality….
Yes Igor, I’m angry too.
MtnMike-
My suggestion for Congress has been that we require a balance budget, then pay Congress last. If they don’t get it balanced, then they don’t get paid.
I thought it would encourage them to do what we keep being promised and never see- politicians making hard choices.
90%? how about alcohol and tobacco? either the government would make a killing in taxes….or the nation would become much more healthy by quitting. either the deficit would shrink or healthcare would be helped. while they are at it…legalize weed and tax it at 90%. more revenue and they could release the harmless offenders from jail. drug related crimes go down and we’d have some room for the real sickos that are eventually gonna be set loose because there’s no room. they could also actually prosecute mortgage fraud…and if they don’t really want to throw the guilty in jail….tax their net worth at 90%. leave their family with one home and 10% of their worth. i’d be satisfied with that. oh yeah, mike, and they could tax themselves at 90%. if their was no earning potential in politics then those positions would truly become spots for those who REALLY WISH to work for the people.
I am not sure which is worse as a politician;
a corrupt liar and thief , or an altruistic ideologue.
This is by no means the end of it. I am convinced when their efforts to re-inflate the bubble don’t work they will take control of more and more of the economy. The will be in a righteous snit – blaming business and the public for not fully embracing their vision. Wage and price controls like Nixon did in 1971 would be the least I’d hope for – full use of the Presidential emergency powers would be the worst case end.
This can”t end well. The senate will never let this pass. It’s a cover for the trillion dollars we are pouring into the banking black hole real soon. It’s getting comical you have to laugh or it would drive you crazy.
All of the money and perks they are getting for doing such a lousy job… losing untold billions of other people’s resources and ruining peoples lives both now and in the future.
Yet they go home every night to plush accommodations, get up up the next morning and scheme to scam again.
The people they are bilking and burying whine a bit, and then the whining turns to bleating as the sheep dutifully do… well… what sheep always do.
Running such a farce under the charade that results matter… that they have any of the interests of the stakeholders in mind… that they care at all where or whom it comes from as long as they get their personal seat on the Titanic’s lifeboats. In fact, it seems they are drilling holes in the side of the ship as they lower the lifeboats into the darkness of night in the midst of the populace screams.
Ummmm…. Crud.
Now I can’t remember if I was thinking of AIG or the US Legislature when I started typing.
Tax fornication and bad grammar. We could balance the federal budget within ten years.
(I agree with you, twist. I do not want to work too hard during the weekend.)
Malthus-
Let’s throw in bad driving- we could then balance the budget in half the time.