New at Reason: Steve Chapman on Congress and the AIG Bonuses

March 23, 2009

Congress is outraged over the bonuses paid by the insurance company AIG. So the House voted by a 328-93 margin to impose a 90 percent tax on the payments. But in so doing, writes Steve Chapman, members resolutely avoided a couple of inconvenient realities. The first is that the fault, if any, lies with the same people who are now angry. The second is that the tax conflicts with the clear intent of the Constitution.

Read all about it here.