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The AIG Tax

Posted on September 9th, 2009 by bunilaw

The proposal in Congress targeting AIG bonuses may be subject to constitutional challenge. We have a written constitution precisely to hinder majorities from acting tyrannically toward unpopular persons or groups. Despite glib pronouncements by Larry Tribe on the matter, there are serious questions whether this pending income tax legislation will survive judicial challenge if passed.

I encourage all affected employees of AIG or other firms to consult with counsel and consider a determined challenge to any tax legislation that targets their agreed compensation for services already performed.

http://blogs.wsj.com/law/2009/03/18/would-an-aig-bonus-tax-pass-constitutional-muster-a-tribe-calls-yes/

http://www.nytimes.com/2009/03/25/opinion/25desantis.html?_r=1&em

http://www.nytimes.com/2009/03/21/opinion/l21aig.html

http://news.findlaw.com/hdocs/docs/aig/bonus-retention-plan2008.html

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/18/AR2009031801484.html?hpid=topnews

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031702940.html

Filed under: Tax Commentaries
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