The blog JustOneMinute tells truth to power when it says, "I deplore this confiscatory tax aimed at whoever Congress is mad at today. Right now it's AIG and Fannie Mae; later it will be Merrill and Citibank, and eventually it will be defense contractors, profiteering oil executives, or whomever the Congressional Dems single out as their whipping boy du jour."
Everyone may be mad about the retention bonuses to be paid to AIG management, but that does not justify confiscatory taxes to appropriate the bonuses. Today it may be applied to AIG, tomorrow to the new enemy of the day.
When government sets aside contracts they don't like, no contract is safe. This introduction of uncertainty into economics discourages all investors from risking their money in the economy.
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