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Old 06-11-2009, 09:41 AM
 
Location: San Diego, CA
10,583 posts, read 8,257,171 times
Reputation: 4158

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Well, this was about as secret as Adam Lambert's being gay was. But now it's coming out of the closet more officially: The Obama administration wants to control pay scales, not just in companies that received Federal bailout money as they claimed, but also in private businesses across the board. He has the same Constitutional authority to do both: Zero. So don't expect the Constitution to stop him.

Of course, these are being floated merely as "guidelines" now. If they don't get followed, anyone want to guess how long it will take before they become mandatory?

This has been tried before, of course. In socialistic countries everywhere, government has thought it knew better than the free market, how to set wages, prices, etc. (anyone think price controls will be far behind, if this takes hold? I can hear the rhetoric now: "Since these people's pay is limited by government, how can we let them be subject to the whims of "arbitrarily" increasing prices?"). Needless to say, those socialistic countries fail one after the other, often preceded by oppressions and mass deaths among the population.

But now, the Obama administration wants to try it again, under a disguise of "Change", as if they were doing anything differently from regimes elsewhere. Oddly enough, that was the exact rhubric those past regimes used, too. Where are they now?

Last November we voted for extreme liberalism. We're getting exactly what we voted for.

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US government seeks to rein in executive pay - Yahoo! Finance (http://finance.yahoo.com/news/Administration-Rein-in-pay-apf-15500519.html?.v=6 - broken link)

Administration: Rein in pay in US private sector

Obama administration: Executive pay needs curbs, better management, across US private sector

Jim Kuhnhenn, Associated Press Writer
On Thursday June 11, 2009, 10:40 am EDT

WASHINGTON (AP) -- The Obama administration says executive compensation must be better managed to prevent the sort of risk-taking that jeopardizes the economy.

Gene Sperling, who advises Treasury Secretary Timothy Geithner, said Thursday the administration does not want to impose caps on executive pay. But he also laid out for the House Financial Services Committee a list of guidelines calling on publicly-held companies to link compensation to long-term performance, not short-term gains.

Sperling said in prepared testimony that the administration believes compensation practices "must be better aligned with long-term value and prudent risk management at all firms, and not just for the financial services industry."
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Old 06-11-2009, 09:44 AM
 
69,372 posts, read 55,346,365 times
Reputation: 9358
yes but liberals will proclaim that Obama isnt anti business, he's not a socialists, and that limiting peoples profits will improve the economy..
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Old 06-11-2009, 10:16 AM
 
Location: NC USA
3,384 posts, read 4,081,391 times
Reputation: 1794
This is a clear case of the Obama administration overstepping its bounds. There is no need for the federal government or any government to step in like this. It is actually quite scary to think of this. You have a die-hard liberal screaming in another thread to control what is said on the radio and now the government wants to control private sector pay. Controlling propaganda and business, the first steps to our demise.
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Old 06-11-2009, 10:16 AM
 
Location: San Diego, CA
10,583 posts, read 8,257,171 times
Reputation: 4158
The leftists are really taking Rahm Emanuel's advice to heart.

Quote:
Originally Posted by Rahm Emanuel
"You never want a serious crisis to go to waste. This crisis provides the opportunity for us to do things that you could not do before."
If you were wondering what he meant, now you're starting to find out. The leftists are trying to cram every bit of their 1920s-based socialistic agenda into the country they can, while the fear and anxiety over the economy lasts.
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Old 06-11-2009, 10:26 AM
 
Location: Fort Worth/Dallas
11,878 posts, read 33,486,370 times
Reputation: 5566
We're in for a change for sure. Not one that I want to be a part of though.
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Old 06-11-2009, 10:29 AM
 
Location: Raleigh, NC
9,043 posts, read 11,571,264 times
Reputation: 1392
I predict a month before someone finds a loophole around this.
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Old 06-11-2009, 10:37 AM
 
Location: San Diego, CA
10,583 posts, read 8,257,171 times
Reputation: 4158
Quote:
Originally Posted by ViewFromThePeak View Post
I predict a month before someone finds a loophole around this.
And one day after that before the loophole is plugged.
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Old 06-11-2009, 10:41 AM
 
Location: Charlotte, NC
3,562 posts, read 4,949,760 times
Reputation: 1483
^^^ Well we know libs are good at plugging holes. Just not loop-holes.
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Old 06-11-2009, 10:49 AM
 
Location: Raleigh, NC
9,043 posts, read 11,571,264 times
Reputation: 1392
Quote:
Originally Posted by Little-Acorn View Post
And one day after that before the loophole is plugged.
There's always another loophole. Either that or economies go underground, far from the reach of Uncle Sam.
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Old 06-11-2009, 10:59 AM
 
Location: San Diego, CA
10,583 posts, read 8,257,171 times
Reputation: 4158
Quote:
Originally Posted by ViewFromThePeak View Post
Either that or economies go underground, far from the reach of Uncle Sam.
And then, that loophole will be plugged by the government hiring, training, and deploying more "inspectors" to keep track of what you buy and sell, who pays you how much, etc.

This has all happened before, many time, in many parts of the world. You don't even have to predict it. Just point out what's ALREADY HAPPENED.

There's nothing new about Obama's "new" plans.
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