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The GOPUSA Weekend Update

Saturday, March 21, 2009

Inside this issue...

This Week's Feature

Senate Republicans brake rush to tax AIG bonuses

WASHINGTON (AP) -- Senate Republicans are drawing out a flap that has made the Obama administration squirm, applying the brakes to Democratic attempts to quickly tax away most of the bonuses at troubled insurance giant AIG and other bailed-out companies.

Sen. Jon Kyl, the Republicans' vote counter, blocked Democratic efforts Thursday evening to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last weekend and other bonuses in 2009. The House had swiftly approved its version of the bill earlier in the day.

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Saturday Headlines...

The Loft: The Cure for the AIG Bonus Blues

The Obama "enemy" is the fact that AIG executives are getting paid bonuses with taxpayer-funded bailout money. Attention is being diverted to that issue and the "cure" is a new set of government powers.

Taking advantage of the populist revolt against Wall Street and AIG bailouts, the House Democrats have passed a vengeance tax on TARPed financial firms that amounts to a 90 percent marginal tax rate on bonuses.

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Commentary: Obama's Acid Tongue

Arrogant. Nasty. Sarcastic. Mean. These are just a few of the adjectives commonly used to describe Robert Gibbs, Barack Obama's press secretary. His acerbic humor and habitual use of sarcasm would be more appropriate on liberal talk or in a comedy club performance rather than in the White House. Constructive criticism of Obama's policies -- and reporters' legitimate questions -- are belittled by Gibbs' mockery.

The Obama administration's budget is full of proposals that threaten to weaken our staggering economy. Higher taxes on high earners and reduced deductions for their charitable contributions and mortgage interests. A cap-and-trade system that will impose higher costs on everyone who uses electricity. A national health insurance program that will take $600 billion or so out of the private-sector economy.

Along with countless other Americans, I find it extremely difficult to tune in the television news accounts of congressional leaders finger pointing at corporate executives. If they had any integrity worthy of salvation, all members of Congress would resign their seats and leave Washington in disgrace. A harsh statement you say! Well, examine what is taking place in our country from this perspective -- fiduciary responsibility.

FAIRFIELD, Conn. (AP) - Pillars of the community are now pariahs fearing for their safety in a ritzy area of Connecticut home to many executives at American International Group Inc. (AIG), hit with a backlash over bonuses it paid to top brass even as it accepted federal bailout money.

WASHINGTON (AP) -- Treasury Secretary Timothy Geithner could announce as soon as Monday his much-anticipated plan to get toxic assets off the books of the country's struggling banks, administration and industry officials said.

TEHRAN, Iran (AP) -- The Iranian government brushed aside a Persian New Year's message Friday from President Barack Obama offering to resolve years of hostility, saying it wants concrete change from Washington before it's ready to enter a dialogue.

WASHINGTON (AP) -- Starbucks Corp. and other companies are exploring alternatives to a bill that would make it easier for workers to unionize, but the idea of any compromise drew the wrath of business groups lobbying furiously to defeat the measure.

WASHINGTON (AP) -- Battered by the economy, the post office is offering early retirement to 150,000 workers, cutting management and closing offices, the agency said Friday.

WASHINGTON (AP) -- Elena Kagan on Friday became the nation's first female Solicitor General, a position informally regarded as the 10th Supreme Court justice and, for her, a possible audition for a spot in the starting nine.

MONTPELIER, Vt. (AP) -- A state Senate committee unanimously approved a gay marriage bill on Friday, moving Vermont one step closer to allowing same-sex couples to legally wed.

WASHINGTON (AP) -- Twenty-six elementary schoolchildren wielded shovels, rakes, pitchforks and wheelbarrows to help first lady Michelle Obama break ground on the first day of spring for a produce and herb garden on the White House grounds.

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