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AmSpecBlog
Creeping Socialism Watch
The idea that the President of the United States is calling for a maximum wage of $500,000 for top executives in private companies is a disturbing development for those of us who still believe in a free market economy. At the same time, it's hard to argue with the basic idea that any company living off of taxpayer dollars should be more frugal when it comes to executive compensation. This is how creeping socialism happens. Once the government comes to the rescue of the private market under the guise that it's merely an emergency, it opens the door for all sorts of new and unprecedented intrusions into the free market. I would argue (and in fact did argue at the time) that the die was cast as soon as the Fed decided to bailout Bear Stearns last March. Everything that President Obama wants to do to socialize the market naturally flows from actions taken by his Republican predecessor. And honestly, given his campaign screeds against corporate greed, do we really think that John McCain would have acted any differently than President Obama has today?
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Robert Rosencrans| 2.4.09 @ 12:39PM
Will that apply to female executives, and, if so, will the government hold the corporations blameless if the ladies get upset if another corporate maven at a different company doing a same job gets more compensation?
james23| 2.4.09 @ 12:58PM
Actually, and typically, Bush wanted to have it both ways--he gave the bailouts but expressly declined to ask for compensation limits or anything else as a quid pro quo.
But Phil is right, having decided to go forward with "bailouts," a disasterous decision, it would be doubly irresponsible for government not to insist on things like bonus limits (for the banks) and union givebacks (for the auto companies) to protect the taxpayers who have been forced to prop up these losers.
les grossman| 2.4.09 @ 1:03PM
Your schadenfreude moment for the day: overwhelmingly, the executives whose compensation Obomber would limit supported him for President.
Sebastian B. O. Buniontow V| 2.4.09 @ 2:30PM
Great, this means the companies that need the best talent to pull them out of the malaise will have to settle for those willing to live within the cap. The best talent will simply move to other sectors of the economy. It's called free market.
Moreover, with today's report by a liberal group pointing out that the so-called "green jobs" will pay less than standard manufacturing jobs, with many of them moving offshore, the call is for Obama to subsidize wages.
freethrow| 2.4.09 @ 2:53PM
If the money comes from government, government should make the rules. Like it or don't take it.
Jeremiah| 2.4.09 @ 3:18PM
What is your problem?
The people whose salaries are going to be capped are people who are taking TAX DOLLARS.
Why shouldn't the people footing the bill have some say in how it's spent?
It's time for the Masters of the Universe to start being treated like they treat table waiters.
Widget| 2.4.09 @ 4:48PM
Does anyone else think that it would be fair that Senators and Representatives should also have their compensation capped? They raise their base salaries (this does not count what they can skim or steal) every year by NOT voting to NOT raise them!!
Reagan's Ghost| 2.4.09 @ 5:05PM
"I'm from the government, and I'm here to help"
*Help* you socialize, baited into the trap with a little healthcare, bailout $, stimulus, subsidies, tax credits, welfare, Medicare, SSD, S-CHIP, etc...
"I, your long awaited Messiah, do solemnly swear or affirm to lower every individual in America to a level of *equality* consistent with the poorer countries of the globe, of which I now consider myself the One."
Reagan's Ghost| 2.4.09 @ 5:07PM
"...true Leader."
Helen Jenkins| 2.4.09 @ 5:17PM
There is truth and wisdom in the saying, " Be careful what you wish for, you just might get it". Some PC elites and 99% of minorities looked at ' THE MESSIAH ' and saw the answer to their prayers. If, Barrack Hussein Obama gets his way - and I don't believe he will - America as we know it will cease to exist. America is a nation born of Asia's wanderers' Europe's unwanted caucasians and Africa's captured, enslaved. Together, they worked, struggled against unimaginable hardships and learned through trial and error and learned to govern. They developed a great nation. Never forgetting the hard road traveled to this day, this time, In times of trouble, Americans are the first to extend a helping hand - worldwide, to friend and foe. So for a few " PC elites " who have used minorities as a shield to hide their evil agenda - imposing a socialist, totalitarian state in America, they will find their agenda untenable, unwinable
Even with their MESSIAH, physically attractive, articulate, financially greedy, emotionally needy and " A BLACK MALE " they know will be controllable. The perfect foil. The first tenets of a totalitarian society are already visible : Schools that indoctrinate, not educate . Control information : Start with Conservative Talk Shows - major focus on Rush Limbaugh and Sean Hannity. Finally, render the populace to make helpless, note end runs around the 2nd Amendment 'via' Congressional regulations. However, they reckon without reason. America is awakening to its long slumber and is already beginning to push back. America will survive !
Alan Brooks| 2.4.09 @ 5:19PM
How does Jeremiah treat waiters at his favorite restaurant?
he doesn't have to treat them at all, the butler brings him his meals.
Andrea| 2.4.09 @ 6:09PM
I COMPLETELY agree with Sebastian above...and everyone with any kind of common sense knows that as government expands liberty thus contracts. And "freethrow" above...you are incredibly naive and ignorant. Way to go Helen...you are right on!
Basil Plumley| 2.4.09 @ 8:38PM
The government that giveth can also taketh away.
Grove City College figured this out.
Oh, and Jeremiah???? ... you're next.
Greg Conlan| 2.4.09 @ 11:15PM
And shall we have the same monetary restrictions on aid to the states? Like reduce your budgets 3%/ year for the next five years and reduce state workers at the same rate as a condition to federal aid? Are not most states wonderfull examples of fiscal management and conservative monetary policy.
ruth| 2.5.09 @ 3:12AM
I see business being punished for their part in this economic mess, but what about the liberal scabs in congress who initiated it all with their social engineering? Got off scot-free, as always, and their corruption grows.
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