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Lawrence Tribe, who was Barack Obama's constitutional adviser during his campain, has just come out with something very interesting about Obama's plan to levy a 90% tax on corporate bonuses, and his argument makes a lot of sense. He says that it could very well be unconstitutional. He rationalizes this thought by pointing out that it would amount to a bill of attainder, which the Constitution outlaws.
It makes enough sense to me that, although I am really pissed about screwups getting those bonuses, I have to agree that Obama does not have the legal right to tax them, as it, according to Tribe, legislates punishment for an identifiable class. Obama may be in a lot of political hot water, should he decide to continue to push this provision.
What does everyone else think?
Article is here.
It makes enough sense to me that, although I am really pissed about screwups getting those bonuses, I have to agree that Obama does not have the legal right to tax them, as it, according to Tribe, legislates punishment for an identifiable class. Obama may be in a lot of political hot water, should he decide to continue to push this provision.
What does everyone else think?
Article is here.