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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.
Wow.. Rham sounds like a neocon with a hint of NWO added in.
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.
Even the almighty Soviet regime couldn't stop back alley transactions. Obama and his broke Treasury is powerless to stop it.
Besides, as an "inspector", will you continue to accept worthless FRNs from Uncle Sam or accept gold from me to keep your mouth shut?
One one hand, I think it is appalling the Feds are taking actions which are really questionable as far as the Bill of Rights and Constitution are concerned. Also that the Feds just keep growing and growing. How long until they have a hand in the pay of owners of business NOT publically traded?
Also, not surprising they want more control over traded firms and executive pay - it's all part of the G20 agreement of the Fiscal Stability Board. I now we are a global society but it is so sad that we are being governed by a group of international leaders.
On the other hand of the issue, top execs have asked for this. How many have walked off with BIG bonuses while their company has gone into the tank, people have been laid off, etc.
I am LMAO though -- wonder how many of the uber-rich, the CEO's, the Wall Street set, etc. who were big Obama supporters during the campaign are now regretting their support?
They helped get Obama elected now he is coming after their money.
They shouldn't be surprised though - were they not listening to him during his campaign?
The fundraising figures point to Obama's unusual success, for a Democratic candidate, in appealing to America's wealthiest voters in spite of a pledge to raise taxes for those earning more than $250,000 per year. .........
"It becomes a much broader issue of who they think can do best for the country and who they want to have influence with." Bankers and academics at top of donor list | World news | The Guardian
But imagine what this is going to do to businesses across America, same thing that Steve Ballmer said, they are going to move to other countries. So instead of worrying about off-shoring, we need to worry about no jobs whatsoever. Smart long term thinking on the part of the current administration.
I think that privately owned businesses should pay union scale to their hourly employees and what ever they want to their executives. I also believe in a progressive income tax the effectively eliminates any tax liability on workers and places the burden on the executive pay scales.
Either way the huge discrepancy in aggregate wealth will be decreased leading eventually to an egalitarian society.
I think that privately owned businesses should pay union scale to their hourly employees and what ever they want to their executives. I also believe in a progressive income tax the effectively eliminates any tax liability on workers and places the burden on the executive pay scales.
Either way the huge discrepancy in aggregate wealth will be decreased leading eventually to an egalitarian society.
Sure. Look how well that scheme worked in the USSR.
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.
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."
Well if its true.. the revolt will begin. But will hold the pitchfolks and torches for now.
As to pay caps for ALL PUBLICALLY traded companies - that is true.
Have not seen anything about private companies not publically traded.
I'm curious as to whether they are proposing that so...
1. The want pay caps on ALL publically traded companies (this is my guess)
or 2. Putting that in will make the bill fail
or 3. Putting it in makes the bill "worse" so the powers that be will be grateful to pass the "bailout only" pay cap only. (You know, like they do with gasoline - raise it sky high so we squawk, then lower it but not to the level it was earlier, we are so grateful it is lower that we don't complain that it was higher than it originally was. Yea, I know - other factors affect the price.)
Quote:
But with the spotlight now on executive pay practices, senior administration officials are moving to address concerns at firms well beyond those implicated in the crisis. Yesterday, officials proposed two pieces of legislation that separately empower shareholders and the Securities and Exchange Commission to exercise more oversight over executive compensation at all publicly traded firms. washingtonpost.com
More of the G20 summit on exec pay?:
Quote:
UK banks were also given a warning over their executive pay by the shadow chancellor, George Osborne, in a speech to the Association of British Insurers on Tuesday. BBC NEWS | Business | Shell boss calls for pay reforms
Are union leaders going to have their pay restricted? How about politicians?
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