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First, the House passed a 90 percent tax targeted at AIG bonuses.(The Week)(Brief article)

National Review

| April 20, 2009 | COPYRIGHT 2009 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

* First, the House passed a 90 percent tax targeted at AIG bonuses. Obama was right to resist that mob maneuver, which has faded. Now, Rep. Barney Frank is attempting an even bigger power play: Recently introduced legislation would give congressional overseers the power to set wages for all employees--not just highly paid executives--at firms in which the government now has a capital interest, meaning that Washington will reserve the right to approve a 5 percent raise for a $10-an-hour drive-thru teller in Toad Suck, Ark. We think this proposal is imprudent but not indefensible: ...

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