Note to historians, the following is a list of strange consequences from Obama’s self-destructive health care reform obsession:

i) Spooked the conservative Democrats who are disrupting the Committee on Energy and Commerce markup and pending floor vote because of their policy concerns about the government option;
ii) telegraphed to the moderate Republicans and moderate Democrats that President Obama agrees with Senator Ted Kennedy, Senator Chris Dodd and Chairman Waxman, in general, about the role of government in health care, making the plan an easy target for opponents;

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The House is debating HR 1586, a bill that would tax bonuses given to employees of bailed out businesses.  The bill would tax “90 percent of the TARP bonus received by the taxpayer.”  The TARP recipient’s employer must have received the money from “the Emergency Economic Stabilization Act of 2008″ (the TARP bailout), “the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation”, “members of the same affiliated group” (units of the TARP recipients, FNMA and FHLM monies), and affiliated partnerships.  Conservatives in the House and Senate need to use this debate as an opportunity to debate how this provision was placed in the Obama so called Stimulus bill and forbidding future bailouts.

This effort in the House and Senate to tax bonuses is not much more than a cover your backside vote to protect the Obama Administration and liberals in Congress who requested, through Treasury, that the AIG Bonus Protection Amendment be put in the Stimulus.  If conservatives in the Congress want to show some leadership, they need to use the bonus debate to fight the further nationalization of private enterprise.

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