Republicans Pulled A "Hit And Run With Our Economy"

THE PARTY OF NOPE

Gary Peters, MI-09, Is A Smart Guy.

Gary Peters, MI-09, in the suburbs north of Detroit, has a great idea.

“It is beyond outrageous that the very people who brought AIG to its knees and helped create the current financial crisis are scheduled to receive hundreds of millions of dollars in bonuses while tax dollars keep their company afloat,” said Rep. Peters, a Member of the House Financial Services Committee. “These bonuses are in effect a raid on taxpayer dollars. The legislation I’m proposing will get taxpayers their money back. Congress must act swiftly on this matter to show AIG, other companies receiving federal support and taxpayers that we mean business when we say that tax dollars are not to be used to enrich company executives.”

Congressman Peters’ bill would create a 60 percent surtax on bonuses over $10,000 to any company in which the U.S. government has a 79 percent or greater equity stake in the company. Currently, AIG is the only company that meets this threshold. The 60 percent surtax would be added to the normal income tax rate, meaning that bonuses received this year by AIG executives paying the top 35 percent tax rate would be taxed at 95 percent. The remaining 5 percent would likely be paid in state and local taxes, so taxpayers would fully recover any AIG bonuses paid in 2009.

(HR 1527)

Nice one, Gary!!

Will Ferrell's George Bush Farewell: Condi Rice Gets Down and Dirty With W

G.O.P. STRATEGY FOR SUCCESS

OBAMA'S MARKET

NEW YORK (CNNMoney.com) -- Stocks jumped Thursday, rallying for the third session in a row, as investors scooped up banks and other shares hit in the selloff that left the Dow at 12-year lows.

The Dow Jones industrial average (INDU) gained 240 points, or 3.5%, according to early tallies, managing a three-session rally for the first time since late January.

The S&P 500 (SPX) index gained 29 points, or 4%. The Nasdaq composite (COMP) gained 54 points, or 4%. (More from CNN)

UPDATE (Friday) Wall Street rallied at the end of a choppy session Friday as investors pushed the stock market's gains to four days in a row - its best stretch since late November.

Daylight Savings Time This Sunday

Remember: Spring ahead-Fall Behind. This Sunday morning (Saturday night) at 2:00 AM, Move your clocks to 3:00 AM (Spring ahead). It's the start of Daylight Savings Time.

JON STEWART'S CNBC SMACKDOWN!!

OBAMA'S FAULT

Wall Street snaps 5-day losing streak

More HERE

RNC's Michael Steele Disrespects Limbaugh

My guess is Steele will apologize to Rushbo by Friday. Anyone else care to make a guess?

UPDATE: That didn't take long:

Republican National Committee Chairman Michael Steele says he has reached out to Rush Limbaugh to tell him he meant no offense when he referred to the popular conservative radio host as an “entertainer” whose show can be “incendiary.”

“My intent was not to go after Rush – I have enormous respect for Rush Limbaugh,” Steele said in a telephone interview. “I was maybe a little bit inarticulate. ... There was no attempt on my part to diminish his voice or his leadership.”

...Steele, who won a hard-fought chairman's race on Jan. 30, told Politico he telephoned Limbaugh after his show on Monday afternoon and hoped that they would connect soon.

“I went back at that tape and I realized words that I said weren’t what I was thinking,” Steele said.