Posted by Jonathan Adler:
Tribe on Taxing AIG Bonuses:
http://volokh.com/archives/archive_2009_03_15-2009_03_21.shtml#1237467992
Conor Clarke [1]posts Laurence Tribe's views on whether the federal
government could effectively take back the AIG bonuses without running
afoul of constitutional prohibitions. Tribe's bottom line:
It would not be terribly difficult to structure a tax, even one
that approached a rate of 100%, levied on some or all of the
bonuses already handed out (or to be handed out in the future) by
AIG and other recipients of federal bailout funds so that the tax
would survive bill of attainder clause challenge.
If Professor Tribe is right, I wonder what such a targeted tax
provision would look like. Megan McArdle also [2]wonders what
implications this will have for other institutions that received TARP.
References
1.
http://business.theatlantic.com/2009/03/laurence_tribe_is_taxing_aig_legal.php
2. http://business.theatlantic.com/2009/03/aig_clawbacks_barely_legal.php
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