Bailout could make Dem's wet dream reality

[Monkeyleg]

For as long as I can remember, the far left has wanted to put a cap on how much money exec's can make (although they've never wanted to cap the money made by celebrities).

The proposed bailout gives them a foot in the door. No, I don't think that exec's from the failing companies should be rewarded by the taxpayers for their mistakes.

But I'm not aware of any law that puts a ceiling on the earnings of a person in the private sector. Are you?

I can just imagine Pelosi & Co. trying to figure out how to expand the pay caps.

[sumpnz]

For as long as I can remember, the far left has wanted to put a cap on how much money exec's can make (although they've never wanted to cap the money made by celebrities).

The proposed bailout gives them a foot in the door. No, I don't think that exec's from the failing companies should be rewarded by the taxpayers for their mistakes.

But I'm not aware of any law that puts a ceiling on the earnings of a person in the private sector. Are you?

I can just imagine Pelosi & Co. trying to figure out how to expand the pay caps.

This isn't just a wet dream for them.  This is the one where they wake up and find out it was for real.  My only hope is that it turns out she was underage and the cops have them under surveilance.  (For clarity, in this analogy the cops are the voters, the "jail sentance" is loosing the election, and the underage girl is the bailout/nationalization of the financial sector).

[longeyes]

The trouble with wet dreams is that you wake up alone and messy.

You are right that the American Left's politics is masturbatory.  That much I'll give you.

[Waitone]

Actually it was Clinton that put a cap on exec's salaries.  Anything over $X was not fully deductible as a business expense.  IIRC the level was set fairly low.  Anyhow, the market adapted by offering options and so forth which drove total compensation to new heights.  The total payouts were so grandiose that they began to distort the balance sheets.  Then rides in accounting boards and tells companies they have to impute some kind of present value to a future exec payout.  Turmoil.

My point is the goobermint has already diddle with executive compensation and actually made the situation worse.

[ronnyreagan]

For as long as I can remember, the far left has wanted to put a cap on how much money exec's can make (although they've never wanted to cap the money made by celebrities).

Ok, maybe I haven't been paying close enough attention or maybe I'm too young to remember - but can you cite examples of this? Has there been legislation introduced to accomplish this? The book I'm currently reading  (Call It Conspiracy) mentioned the price & wage controls that Nixon implemented which amazed me because I had never heard of such a thing happening in our country. Can someone provide me a reference to what Clinton did to cap salaries?

[Waitone]

http://www.businessweek.com/magazine/content/06_48/b4011079.htm

[ronnyreagan]

http://www.businessweek.com/magazine/content/06_48/b4011079.htm

Interesting. However, the tone of that article makes it seem like a bad thing that Section 162(m) was ineffective .

[Gowen]

I can just imagine Pelosi & Co. trying to figure out how to expand the pay caps.

Imagine the best and brightest leaving this country to work for foreign companies.  Then imagine the American economy going south at a high rate of speed, democrats blaming President Bush all the way down.