One headline in today’s New York Times forced me to do a double take:
“A.I.G. Sues U.S. for Return of $306 Million in Tax Payments”
Perhaps I did not realize it this morning when I woke up, but now I know that during the night I must have been transported to a planet of the surreal.
OR MAYBE IT IS AN EARLY APRIL FOOL’S JOKE?
Sometimes I am a little dense, but here is what I took away from the article. On Feb. 27, A.I.G., with taxpayer money, filed a lawsuit against the U. S. government to get back what they consider an overpayment of taxes.
Now, here is where is gets a little strange: The company is suing its majority owner, the United States government, which owns 80% of A.I.G. In the law suit, A.I.G is demanding a tax refund and is spending taxpayer money to pursue its case, something it is legally entitled to do.
In addition to the funds they have received from Uncle Sam, clearly, A.I.G. wants even more money. Remember, this is the same company that used the funds it received to party then paid out huge bonuses to their employees. Naturally, they are strapped for funds.
And the siren call of available taxpayer cash is too hard to resist. Sigh. . .
Because I am not a lawyer, I don’t pretend to understand it all. What I do understand is the bottom line:
1. A.I.G. is suing us with our money and
2. the government must defend the lawsuit with our money.
3. The lawyers will get rich and
4. my taxes will go up to pay the bill.
Will some responsible grown-up, please, step up and take charge?