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Similar to the term "ugly Americans" Europeans referred to us a couple of decades ago, we'll be referring to our visitors as "ugly Asians", or "ugly Europeans"
they want you to spend like life style of the rich and famous and work for min wage.
this is going somewhere. word to the wise debt is not meaningless, its a form of slavery avoid it.
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.
Why is an egalitarian society a good thing? And who decides when it was reached? The Federal government?
It seems so noble - but equalism will destroy any human motivation to rise above the giant middle of the pack. It is inconceivable that any politician, of any party, can be trusted to administer any program designed to achieve an egalitarian society.
Why would anyone work harder then the next guy to get ahead if you can never get ahead ?
If anything the work ethic would go the other way. Then again, maybe that's what they want.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by Little-Acorn
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."
Not only do pay scaled need to be controlled but the outrageous executive add ons and bonuses need to be reigned in too. Anything over a million a year should be TAXED at 80%! There is NO person- executive or baseball player with $100 million.
Another thing we need to do is change the flat tax for capital gains into one that encourages long term investment. Capital gains within the first year should be taxed like hell! Maybe even 50% or more. But if you hold the investment for 10 years, you would pay zero or close to it. This will encourage long term thinking and investing and that will mean SHAREHOLDERS will actually start taking some interest in the companies they own shares in as opposed to voting in the same robber barrons and then dumping the stock like they do now.
Hey..it's starts at the top and works its way down. Don't you remember Obama said it's going to be tough on everyone to get us out of this little recession ?
Yeah didn't you see how he put the UAW in their place. He gave them 2 car companies. I hear they wanted 3 . He is a tough guy!
Not only do pay scaled need to be controlled but the outrageous executive add ons and bonuses need to be reigned in too. Anything over a million a year should be TAXED at 80%! There is NO person- executive or baseball player with $100 million.
Another thing we need to do is change the flat tax for capital gains into one that encourages long term investment. Capital gains within the first year should be taxed like hell! Maybe even 50% or more. But if you hold the investment for 10 years, you would pay zero or close to it. This will encourage long term thinking and investing and that will mean SHAREHOLDERS will actually start taking some interest in the companies they own shares in as opposed to voting in the same robber barrons and then dumping the stock like they do now.
Should, should, should. But that is not how it works today.
Shareholders don't care how much a CEO makes as long as they keep the stock up and dividends flowing.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by HappyTexan
Why would anyone work harder then the next guy to get ahead if you can never get ahead ?
If anything the work ethic would go the other way. Then again, maybe that's what they want.
Most of the people in this country are average people. They are "C" students as you might say. And they are sick of the overachievers taking more and more of the pie and leaving less and less for them. 20 years ago, they were sick of the underachievers doing the same thing which led to things like "welfare refom". Now we are going to have "wealthy people reform" too. In the end it is still the "C" students that run things in a democracy. You treat them badly and threaten their rather meager standard of living, they will unleash political Hell on you.
Most of the people in this country are average people. They are "C" students as you might say. And they are sick of the overachievers taking more and more of the pie and leaving less and less for them. 20 years ago, they were sick of the underachievers doing the same thing which led to things like "welfare refom". Now we are going to have "wealthy people reform" too. In the end it is still the "C" students that run things in a democracy. You treat them badly and threaten their rather meager standard of living, they will unleash political Hell on you.
KevK, I think your statement is spot on.
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