Democrat Senator Introduces Bill Capping Executive Pay At Level Of President
Because nothing says “free market” and “free society” like salary caps for private sector workers.
WASHINGTON (CNN)—One day after President Obama ripped Wall Street executives for their “shameful” decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough.
An angry U.S. senator introduced legislation Friday to cap compensation for employees of any company that accepts federal bailout money.
Under the terms of a bill introduced by Sen. Claire McCaskill, D-Missouri, no employee would be allowed to make more than the president of the United States.
Obama’s current annual salary is $400,000.
As galling as it is to see these executives line their own pockets with our tax dollars, that problem is one created by the fact that people like Claire McCaskill gave them our tax dollars in the first place. If we had denied these inept executives who guided their respective companies into insolvency (with no small amount of help from the government) the bailouts they demanded they wouldn’t have been able to use our tax dollars for bonuses.
McCaskill herself voted in favor of the bailout that is now being exploited by these executives. I suspect that her suggestion of ridiculous (and probably unconstitutional) policy is intended more to mask her and her colleague’s involvement in this fiasco behind a curtain of feigned outrage than an actual desire to see justice done.
I mean, who didn’t know that creating a bailout slush fund was going to lead to graft and abuse?
Apparently Claire McCaskill and her similarly pretend-angry colleagues.
