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expatriate's picture
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Every day the agenda becomes more and more transparent. Here come the government-imposed pay caps...

But wait a minute? If you impose limits on what people can get paid, doesn't that reduce income tax generated by the top percentage of wage earners who pay so much now? Won't that make the trillion dollar a year deficits worse?

And just where in the Constitution does it say that government is empowered to prevent a private business from paying its employees too much? Do you think that'll include Hollywood stars that get tens of millions per movie?

Note that the proposed rules would apply to ALL financial institutions, not just the ones that got bailout funds, and could be expanded to cover all publicly traded businesses.

Note also the part that basically says that if you're not running your business the way the government thinks you should, they can step in and override you.

We're watching history being made here.

http://www.nytimes.com/2009/03/22/us/politics/22regulate.html

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Quote:
prevent a private business from paying

public business

publicly owned companies

Quote:
just where in the Constitution does it say

It doesn't. Constitution also says nothing about air traffic controlers.

We have rules. You want us to insure you, you play by our rules. You want to publicly offer pieces of your company up for sale, you play by our rules. The rules got thrown out the window, things went all to hell, there's a new bunch running things, too bad.

I personaly hope they hike the tax rate back up to where it was in the 1960s, I'd like a middle class again.

expatriate's picture
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WOW.

These aren't public businesses or publicly owned companies. These are private firms -- or at least they used to be before the teleprompter started socializing things. Most of them still are...for now.

Air Traffic controllers exist to deconflict aircraft so they don't run into each other. That's not the same thing -- although Obama is trying to argue that it is. He's declaring that private enterprise can affect the health of the economy and, by extension, the state -- so therefore the government has the right to run it .

That's not how America works. At least, that's not how it used to work. This nation was founded on the principle that people were free to choose their destinies. America doesn't work for government. Government works for us.

Your comment about the rules is chilling and Stalinesque. This is your vision of government -- a totalitarian state that rules through force and extortion?

Since when did raising taxes create a middle class?

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Since when did raising taxes create a middle class?

Not only does raising taxes create a middle class it demonstrably helps the economy. Look what happened when Clinton hiked taxes just a little bit.

Here is a chart and some eye candy.

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expatriate's picture
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TAKING MONEY AWAY FROM PEOPLE BRINGS THEM UP TO MIDDLE CLASS?? Laugh Laugh Laugh Laugh Laugh

You're right -- it does if you destroy the upper class to make them middle class.

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I know it's pretty devastating when you look at it. You should just go ahead and admit it or refute it but snarkiness does nothing for me.

There's more.

http://www.fivethirtyeight.com/2009/02/clinton-economic-record-and-risin...

expatriate's picture
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You're unbelievable. Why not just implement a 90 percent tax on everybody and turn us all into Bill Gates?

Poking holes in your logic is like shooting fish in a barrel. In your world, economic growth during the 90s didn't have anything to do with the technology boom -- it was because we raised taxes on the rich.

That's like saying that since the 2004 tsunami happened the day after Christmas, it happened BECAUSE of Christmas.

But you're dodging again -- this thread is about government setting limits on what private business can pay employees, remember? This is about Obama putting a cap on the American dream and saying individual accumulation of wealth poses a threat to the US.

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An estimated 20 million illegal immigrants working for minimum wage is what is responsible for the lower Median wage not tax cuts.
You can't give tax money to those who don't pay taxes and call it a tax cut for middle class or tax hike to rich folks.

The constitution doesn't say Govt. can but it does say Govt. cant.

There is already regulation of Wall Street, see SEC, but you have to actually enforce the rules in order for it to work. Kind of like Guns, it is already illegal to commit a crime with a gun so why make it a crime to have one? Enforce the rules and laws already on the books before making up new ones so that Govt. can gain control over every aspect of our lives.

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Jtapia I'll reply but Expatriate wants us to stay on topic after he puts his two cents in.

There is no regulation of credit default swaps. Also banks became mostly deregulated in 2000, they were allowed to become brokerage houses, also the SEC lost all it's funding a long time ago, something to do with shrinking government until it's small enough to drown in the bathtub.

I'd like to see tax rates high enough that it doesn't pay well to make much over 5 million, just like back in the day.

Expatriate blaming unrelated things on each other is all the rage, don't you watch Fox Business or CNBC? The DJIA has lost half it's value since fox news started broadcasting, so we know whose fault the drop in the dow is.

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civetcat wrote:
........ The DJIA has lost half it's value since fox news started broadcasting, so we know whose fault the drop in the dow is.

"CSI: Crime Scene Investigation" also debuted in 2000 so maybe it caused the DJA to drop instead of Fox News.
One can never say for certain.

This post is off topic however my previous one was on topic and related to Government Control of Capitalism., in my opinion.

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Regulation of an industry is not the same as salary caps. The Democrats are making it patently obvious that they believe there's something wrong with financial success, and that those who accumulate wealth are enemies of the state.

How long do you think it'll be before he accuses energy companies of paying their employees too much and starts going after them? Then what other industries will he go after?

What's next? Restricting dividend payments to stockholders?

With every passing day, the administration makes it clearer that it views wealth and success as sin, and poverty and failure as virtue. It's reverse Darwinism, and this kind of thing has never grown economies.

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