Obama admin: Reduce pay across private businesses, too (wages, regime, deaths)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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."
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.
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.
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
