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?
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.
…this massive shift of wealth to the left because the economy will stay stagnant longer increasing the fears of the public. These increased fears will lead the duped into even greater acceptance of the creeping socialism that is America’s “New” direction. And never forget that when the Federal Government takes over your health care, your freedom of choice disappears and you become more indentured to…
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.
Pingback| 2.6.09 @ 8:57AM
Obama’s “Stimulouse” Package is a Power Grab for the Left « Riggword Weblog links to this page. Here’s an excerpt:
pigment Red| 4.7.10 @ 9:19PM
Never frown, Ink Pigments
even when you are sad,Organic Pigments because you never know who is falling in love with your smile.
jake| 5.2.10 @ 8:24PM
what the fuck is creeping socialism?