The congressional attacks on AIG over the bonus issue smack of demagoguery. Although far greater wastes of taxpayer money, such as the Iraq war, take place every day, our elected officials have focused on the AIG bonuses to cash in on hostility toward Wall Street and the business community. Although I favor sensible reform, focusing hostility on one small group is not the answer.
If Congress is insistent on taxing the AIG bonuses, perhaps it should take advantage of the recent fervor for equality and shared sacrifice by taxing the bonuses of all workers. Such a measure would not only defuse the issue of class warfare but would also serve to better pay our rapidly expanding deficit.