The following is a letter I sent today to the WSJ on the liberal larceny of Wall Street bonuses:
Jonathan Clements is being much too charitable in calling the punitive tax on bonuses at groveling U.S. companies “stupid.” It is congressional hallway robbery. It is immoral. It is unconstitutional and ex post facto larceny (as the WSJ rightly pointed out).
It is the next stop on liberals’ capitalism-evisceration junket, which is (and always has been), “Let’s get our statist feet in the door of big business, and then we’ll put these rich bastards in their places, and we shall then be loved and adored by our victimized public. To hell with contracts! We are Congress! We’ll lynch you faster than you can say ‘the mob is always right’!”
I have great sympathy for Mr. Clements, and he is right about the disincentives created by such confiscation. But what else must we expect from America’s strong-arm elitists, who despise Adam Smith’s invisible hand? Their schadenfreude barometer on Wall Street’s ills is off the scale. They hate the power of free money and covet the power of office. They prosecute the wealthy by way of their groupies, the press. They breed and feed on ignorance.
And those very productive members of a once-free society, like Mr. Clements, have become the true victims.