NYTimes.com reported The White House stopped short on Friday of endorsing legislation to severely tax bonuses paid to executives of companies that accepted taxpayer bailout funds.
That is what you get when you pick your position based on polls and new accounts. The proposed law is unconstitutional, but Congress passes many unconstitutional laws. Also this not the serious problem. The serious problem is what they are spending at 1,000 times the level of the bonuses.Administration officials said instead that President Obama would assess the potential effect of the bill that emerged from Congress on efforts to stabilize the financial system.