Democrat Senator Introduces Bill Capping Executive Pay At Level Of President

• January 31, 2009

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.

Tags: Asshats, Domestic Issues, Politics

http://Array ews48

They’re just stumbling over each other to kiss his ass while he does more of the same printing, borrowing, and spending that caused this problem.
Halatbis

Let’s take this idea one more step—that means that no seanator or representative can make more than the president??? Hello millionaire Hillary, Dodd, Kennedy, Rockefeller,etc. etc.
It appears that the collective intelligence of the American voters is equal to a rock. We elected these people and continue to do so?
http://www.willisms.com/ Zsa Zsa

It is one thing to cap executive pay for beggars of Govt. Bail Outs. Quite another to stick their Socialist noses into where it doesn’t belong!
SHADY

SLARIES????
WHHILE??? What do these words mean, anyone?

AHHH, Print more money, Is that any different than us citizens counterfiting??
There we go, we could pay our taxes with funny money!!
2Hotel9

Does this apply to elected officials?
Brent

Rob,

The benefits of being president go way beyond $400k/year. Here is an estimate — approximately $60 million per year. And this doesn’t include things like the use of Camp David.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

QUICK REPUBLICANS! TAKE TO THE STREETS!

They’re trying to limit the slaries of people making billions whhile their enterprises sink and get bailouts from the taxpayers! OH MY GOD!

This has constems losing sleep!
mplsbob

Lets use our tax dollars to give them more money!! What a great idea.
What happens when the democrats devalue our dollar? Can we cap stupid politicians?
robert108

So, people who actually earn their money, which goes to pay the salaries of all the govt drones, should be compensated as if they were worthless drones who produce nothing? This is just more Marxist class envy bullshit. I think govt should take a big pay cut to return more money to the private sector, which would actually stimulate the economy, but this is getting it backwards. If a productive person can’t profit from his or her achievements, why not just be a politician? Maybe that’s the reason the Dems want to do this.
They want to “grow the economy” by eliminating the incentive to achieve. Makes no sense. Won’t work.
Mickey

Class envy won him the election. It is funny because many millionaires and some billionaires paid for Obama’s election. I seriously doubt Barry Obama’s good friend George Soros will have his annual pay cut.

Remember, Soros paid close to $40 million dollars financing operations like Acorn to get Obama elected. He didn’t do that because he is a “buddy”. Obama is a Chicago politician. They don’t change.

Keep an eye on who Obama promotes to run the World Bank.
Follow the money.
OCBill

What proposals like this fail to account for is that PRIVATE SECTOR pay scales are based on the economic value a given person/position adds to the company and not on an intrinsic “cost plus” valuation based on the intrinsic nature of the job itself. This is why Wall Street executives make big money, because they add value to their companies. It’s the same reason why athletes and “movie stars” get paid so much. If this proposal goes forward, someone should offer an amendment that extends this compensation limit to every profession including “movie stars”, professional athletes, union bosses, and Eliot Spitzer’s hookers.
http://ndgoon.blogspot.com/ goon

Claire MCidiot looked really silly with that proposal yesterday.
sayanything-2483

“You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when that other half gets the idea that it does no good to work because somebody else is going to get what they worked for, that, my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.

—The late Dr. Adrian Rogers, 1931 to 2005 —
sayanything-2483

By the way, are the taxpayers still feeding his mother-in-law at the white house? And where is that aunt of his who’s in the country illegally but was sitting right behind him at the inauguration?

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Democrat Senator Introduces Bill Capping Executive Pay At Level Of President

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