I saw this when I stopped into the CVS a few minutes ago, and thought I would put it up for those of you who have the good luck to live outside the range of a Murdoch tabloid. Sometimes the New York Post hits it right on the head don't they? This ranks right up there with the Daily News headline after Gerald Ford declared in 1975 that he would veto any "federal bailout" dedicated to keeping New York City from going into bankruptcy: "Ford To City: Drop Dead."
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Saw a bunch of Republican Senators on CNN or Fox (my inlaws had control of the TV) yesterday and they were talking about inserting special provisions into the tax code to take 98% of the bonus money back and I said, "The law is inside out, the world is upside down"! People who consider a 4% tax hike "incipient socialism" are talking about expropriating legally earned wealth from the wealthy.
I actually have serious problems with the idea of handling this through the tax code -- it would be too easy to rewrite contracts to get around any technical definitions lawmakers could devise, plus it smacks of bills of attainder. I think the "declare bankruptcy (or something like it) and abandon the contracts" method is more likely to produce the results we want without raising the specter of unintended consequences.
This is something similar to the outrageous, delighted dream that was born in my soul the day Murdoch acquired the WSJ: a hybrid paper, which would retain the format, typefaces, tone, and staff of the Post while covering the content and jurisdiction of the Journal. I still await that day, that glorious day when the two will merge.
For today, this headline is sufficient.
Hi TR -- I'm back! At least for a bit. :o)
I have to agree wiht Ahistoricality when it was commented about having a problem with handling this through the tax code. I just makes you wonder who else, what else, how else, the government can take from me. It just hasn't settleed well with me!
This article made me think of your post:
http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1
Similar tone and argument as your Madoff post, only the Rolling Stone article. Moral of the story, you should be writing for Rolling Stone.
Heart you TR, hope all is going well at the beloved Zenith.
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