Wednesday, March 18, 2009

Taking From the Poor and Giving to the Rich

I shouldn’t be complaining because I am currently living off of tax payer’s dollars. I draw a monthly Social Security check and my medical treatment and hospitalization is provided by the Veterans Administration. I do not work and therefore do not put any monies into the tax pool (except for Federal taxes on Tobacco and Alcohol).
I will say this for myself; I will not go on the Government dole until I reach 68.2 years old. This is accounting for a 6% benefit increase annually and the monies that I and my employers had paid into Social Security taxes (FICA).

I will also go on to say that during my last full year (1969) in the Army I earned $3719, whereas my civilian counterparts were earning three and a half, if not 4, times that amount per year. The civilians would argue that I got free room and board and medical care. This is true. I got a cot with a two inch thick mattress in a 14X16 foot room, in the barracks, shared with another GI. If I had been of a lesser rank, I would have been in a 32 man bay. The food that I rarely ate in the Mess Hall was free, but instead I paid for food outside of the Mess Hall, especially after I saw a local Pig Farmer picking up the leftovers. I guess that the pigs liked green beef liver.

However, I do feel a compulsion to complain when something truly appalling is in all of the online newspapers and the television newscasts 24 hours a day. There is story after story after story without any definitive answers.

Monday night, Steven Colbert said that it was time for us to pick up pitchforks and torches. Meaning it was time to go after the monster called AGI. At least that’s the way that I understood it.

AGI CEO Edward M. Liddy justifies the $165 million in bonuses, by saying that they were promised and that they were only going to “the brightest and the best” executives. Eleven of whom are no longer working for AGI. The best and brightest seemingly are like rats deserting a sinking ship; but they still want their full ration of Rum and Hardtack. It appears that the “brightest and the best” didn’t do that well in managing AGI. I say no more Rum!

Years ago my Dad told me that “promises were meant to be broken; just listen to any politician.” But CEO Liddy says that this promise should be kept so that AIG can keep “the brightest and the best”.

My solution is that our Government (since they – meaning the taxpayers - are now a major investor in AGI) should decide who, if anyone gets a bonus. If it were up to me, I’d scrub the entire executive staff and hire new people.

Maybe we can hire the Chimpanzees featured in the youtube video posted below. I'm sure that even they would do a better job and work for bananas and peanuts and not expect a Bonus.

The Beach Bum

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Anonymous Anonymous said...

Keith Olbermann had a good comment thursday about AIG, Citi, and those other creeps.

Fri Mar 20, 10:24:00 PM  
Blogger alfredo_tomato said...

What would happen if we took personhood away from corporations?

Fri Mar 20, 10:26:00 PM  
Blogger The Curmudgeon said...

It strikes me that tar, pitchforks, or confiscatory taxes are not required, at least not in the case of AIG.

We the People 'bought' 80% of the corporation in the course of the various bailouts. We allegedly run the show. We can tell Mr. Liddy that he must refuse to pay bonuses... let someone sue to say he or she earned it. There may be any number of reasons why the bonuses are not legally owed; surely AIG has lawyers who can look into this. If not, presumably the government can lend a few?

There may be some at AIG who are entitled to bonuses -- the AIG property & casualty business was and, I understand, still is profitable. Perhaps bonuses to these people should be paid. But we should be looking to put the people who drove AIG and the banks into the ground in jail... not letting bonuses be paid.

No matter what language Sen. Dodd agreed to put in the bailout bill.....

Mon Mar 23, 06:00:00 PM  
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