Expropriation Venezuelan-Style

The tax on major banks that the government wants to introduce to recoup some of its TARP money forces banks to pay for the losses in the auto sector, which was also bailed out by the government, and at CIT and AIG, which are not banks, Bove pointed out."If it does (become law), it's just pure expropriation Venezuelan-style," he said.

More. BLANKLEY: Kangaroo court for the banks:

That the banks paid back, with interest, the money lent to them by the taxpayers does not excuse them from this new tax.

Note that not only are the president and the commission chairman assuming they know the cause that the commission is assigned to find, but also that this new tax would establish a precedent that any person or business can be taxed or fined for any harm Congress thinks he or it did to the economy.

A primal assault on the rule of law, private property and individual liberty.

P.S. Add to that the outrage Americans have over the unsavory deals the Dem Congress has made to cram through ObamaCare, the latest a blatant bribe to unions:

The $60 million sweetener demanded by the labor bosses will have to be paid for somehow, with the cost eventually reaching the 87.6 percent of employed wage and salaried workers who are not members of unions. In other words, most Americans will pick up the tab for Obama appeasing this special interest.

No one should be surprised at unions putting their own interests above everything else. Inner city children are locked into failing urban schools thanks to teacher union obstacles to school choice. In Chicago, families in "food deserts" in the city's poor neighborhoods see unions slamming the door to access to low-cost quality groceries and new jobs by strong-arming the City Council into opposing construction of Wal-Mart stores.

Strong-arm tactics. Shouldn't we all be equal under the law? If we don't vote to stop this rough stuff this won't be America any more.