Saturday, February 07, 2009

A salary cap I can endorse

From Mark Steyn.

Commissar Frank says we need to take the glorious people's revolution to the next stage:

Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.

“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.

He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.

Let's take the next logical step. Cap total compensation for any individual working for a corporation, foundation, educational institution, and other entity receiving government payments. This will have the positive effect of reducing the amount of government spending needed to support these institutions. And it can take some of the incentive out of increased federal spending

But don't stop there. Since lobbyists are an integral part of the government process, restrict their pay, too. They act as agents in this governmental process, cap their reward.

Did I mention that secession is becoming inevitable?


Dad29 said...

Buy More Ammo!

karen marie said...

"Several compensation analysts said yesterday that many of the measures that were in the Senate bill would have faced legal hurdles because they applied retroactively to banks that received government funds under rules agreed to last fall when Congress passed the Troubled Assets Relief Program's capital repurchase plan. "

the country will be clearing up the wreckage from the bush administration for decades.

Headless Blogger said...

Yes we need to do clear that wreckage Karen Marie.

Unfortunately, the Obama Administration won't be the one to do it. To continue your metaphor, Obama is steering a fleet of gasoline tankers into the existing wreckage which will burn longer and hotter than the Bush mess.

I hope you are young and hard working K-M, because you will be paying for this long after I am dead.