Senator Proposes Pay Cap: If You Make More Than 400K, You Make Too Much

[CrackerBarrel]

And, now we actually get this piece of idiocy...
http://apnews.myway.com/article/20090204/D964VSP00.html


And it is apparently a slippery slope indeed:

The administration also will propose long-term compensation restrictions even for companies that don't receive government assistance, Obama said.

What better way to try to get poor people excited than sticking it to the rich, even if doing so has no discernible benefit for the government (these firms don't have federal funds anyways, and from another standpoint you are actually harming total tax revenues because even if the funds are instead paid to everyday employees, the executives are in a much higher tax bracket and would be paying a higher percent of that money to the government in taxes).

But hey, guess it's time we "spread the wealth around".

[RU OX Alum]

Originally Posted by CrackerBarrel

And, now we actually get this piece of idiocy...
http://apnews.myway.com/article/20090204/D964VSP00.html


.

I guess now all policy decissions will be based on public opinion.

I can't even process that article right now. My head hurts.

[nate2512]

What the hell?

Has, dare I say it, socialism? This is getting ridiculous.

I'd love to see Obama's portfolio, which company does he hold that he's trying to bolster with this stimulus to make himself rich? That's too much power put in the hands of the president and he needs to stop before everything this nation stands for is gone.

[Thetagirl218]

Originally Posted by nate2512

What the hell?

Has, dare I say it, socialism? This is getting ridiculous.

That made me think of this....Comrade Update

[CrackerBarrel]

Originally Posted by Thetagirl218

That made me think of this....Comrade Update

That's amazing. Saw it on Drudge earlier today.

[AGDee]

If you were the best at what you do, your company wouldn't need bailout money. The bailout money was given to ease the credit crunch that was going on. Banks did not start lending more money and instead gave it to their own employees as bonuses. That's BS.

However, it's also BS to cap salaries, especially for companies that didn't need bailout money. If you're going to ask for a handout, you better be prepared to answer how that money is going to be used. The auto companies had to do that and for them, it was a loan. The banks were just handed money with no request for plans of any kind.

[KSigkid]

I'm not a fan of the bailout/loan money, for either the banks or the auto industry, so I'm fine with the pay caps. I do, however, have a problem with limiting salaries for heads of companies that are not taking any government aid (either in the forms of loans or other bailout money).