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expatriate's picture
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Obama Wants to Cut Executive Pay 90 Percent

Here's yet another example of how leftists view business. Obama intends to cut executive compensation 90 percent in companies that got stimulus money.

For one thing, I can't believe the people of this nation are allowing a presidential administration to again reach down into private business to decide salaries. Where does it say that in the Constitution?

And then there's the arrogance factor -- do they think they can do this and still have those executives stick around? What are they going to do -- pass a law preventing them from quitting? That's straight out of Atlas Shrugged.

Here's a theory -- maybe they're doing this to try to get those "greedy" executives to quit. If that's the case, do they honestly believe they're going to be able to hire talented people to replace them? If you were a talented executive, why would you go to work for a company that pays 90 percent less for similar work and requires you to work with the Sword of Damocles hanging over your head?

This kind of anti-business garbage is what has destroyed socialist/marxist/communist economies around the globe.

http://www.cnbc.com/id/33417281

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Obama Wants to Cut Executive Pay 90 Percent

Hey they are trying to force them out so they can controll everything . The funny thing is they cant even find good help to fill the positions in the Whitehouse that they are supposed to fill.

CVC
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Obama Wants to Cut Executive Pay 90 Percent

I don't get Americans......so many are apathetic and accepting of the federal government overstepping its authority. Ignore the Constitution - so what seems to be the response.

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Obama Wants to Cut Executive Pay 90 Percent

Since when has this administration been worried about hiring "Talented" individuals? Certainly not for it's Cabinet Posts, and why would one think they would give a crap about Talent when hiring their cronies for Executive positions as payback for some political deed?
I don't think they would "lose any sleep over it".

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Obama Wants to Cut Executive Pay 90 Percent

I've noticed that they haven't cut salaries for lawyers or politicians. The only salaries that are being cut are the people that ACTUALLY DO create jobs.

expatriate's picture
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Obama Wants to Cut Executive Pay 90 Percent

They don't seem to have a problem with multimillion dollar salaries for sports figures or entertainers, either.

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Obama Wants to Cut Executive Pay 90 Percent

I believe that the key statement here is "companies that got stimulus money."

If they took the money I have no problem with the government cutting their salaries. Even when the banks took the money and then found out that the government wanted to tell them how to run the business I saw no problem and admired the ones that gave the money back just so that they could get the government out of their hair. In most cases the executives could work for a couple of years without any compensation at all and not be hurt and I admire the ones that did take a cut in pay from the get go. You have to look at it this way, if your company needed money to stay afloat and an investor (the government in this case) came in and gave you the money to stay in business. Shouldn't they or who ever gave you the money have a say in how you do business since they did it to keep you solvent?

My flame suit is now on.

expatriate's picture
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Obama Wants to Cut Executive Pay 90 Percent

OK, since you've got your flame suit on, here it comes.

1. Where in the Constitution does it say that the federal government has the right to dictate private sector salaries for any reason?

2. Suppose we establish a precedent that allows government to dictate employee compensation because the company received government assistance. Where does that stop? Do we expand the precedent to include tax breaks or incentives to attract business? What about small business loans? What if you're a defense contractor that relies on government business? Are we going to make rules on employee compensation a precondition to receive government contracts?

What the administration is doing is tapping your sense of outrage to get you to agree to a dangerous precedent. If they were trying to do this in other areas, people would be screaming about it. But instead they're creating an image of rich fat cats feeding at the government trough -- that sells socialism more effectively. That's how this administration operates. It whips up an angry mob and then turns it loose against a target. That's why every issue on the agenda is a major crisis that has to be addressed RIGHT NOW. Is it any surprise that the media is whipping up the H1N1 crisis as the health care issue is faltering?

There have been far too many examples in history when people gave up their freedoms because a charismatic leader got them to stop thinking by putting them on a wave of emotion.

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Obama Wants to Cut Executive Pay 90 Percent

I must admit to mixed feelings on this issue. On one hand you all know I hate big government and feel nothing good has ever come of it. On the other hand taking Government money is tantamount to allowing them in your boardroom. It's like the old Arab saying" Once the Camel gets his nose under your tent flap the rest of the camel is soon to follow". You can't take the cash without expecting some oversight.

expatriate's picture
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Obama Wants to Cut Executive Pay 90 Percent

Personally, I think it's like watching a Mafia movie.

Government forces banks to loan money to people who shouldn't be borrowing it. When the bubble bursts and banks start going under, government steps in with cash to bail out a problem of its own creation. Once banks are on the hook and indebted to the government, government changes the rules for the bailout money to take control and dictate conditions within the company.

This is shameful. I don't think they should've spent the bailout dollars in the first place, because Darwin and the market would've straightened it out. But changing the rules after the fact is just wrong. What we're seeing here is government being corrupted by power -- it's realizing that it can use the bailout to make companies do whatever it wants. I might feel differently if they told the companies what strings were attached before the companies signed up to it. But to start attaching strings AFTER the bailout? That's dirty pool.

How is this not loan sharking?

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Obama Wants to Cut Executive Pay 90 Percent

Expatriate I could not agree with you more. Then when you add the payoffs to the unions and all the payoffs to groups like Acorn it has to make you wonder if Obama is working for the terrorists to intentionally bring down this nation from the inside. A while back on one of our posts someone said make sure you vote . Well yesterday news broke NJ that a multitude of acorn people got people to move from Philly to Camden to vote for Jon Corzine and sway this election. The sad thing is that NJ is what Obama is trying to make this country.

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