Laurence Tribe (Harvard) argues in the Atlantic and Wall Street Journal Law Blog that the proposed 90% tax on the bonuses paid out by AIG would pass constitutional muster under the Bills of Attainder and Ex Post Facto clauses Article I, Section 9; the Contract Clause of the Article I, Section 10; the Due Process Clause of the Fifth Amendment; and the Takings Clause of the Fifth Amendment. (Hat Tip: Bruce Bartlett.) For more, see:
- H.R. 1586
- Description of H.R. 1586
- House Ways & Means Committee press release
- Senate Finance Committee press release
- Senate Finance Committee Chair Max Baucus statement
- Senate Finance Committee Ranking Member Charles Grassley statement #1
- Senate Finance Committee Ranking Member Charles Grassley statement #2
- Associated Press
- Bloomberg
- CNN
- Fox News
- Washington Post
