Author Topic: Obama moves to cap executive pay  (Read 13585 times)

RocketMan

  • Mad Rocket Scientist
  • friend
  • Senior Member
  • ***
  • Posts: 13,621
  • Semper Fidelis
Re: Obama moves to cap executive pay
« Reply #50 on: February 06, 2009, 12:14:00 AM »
Just a tad insulting, Nitrogen.   Thank you very much.

If one thinks about it, Obama and crew capping executive salaries in general is not that far fetched.  The left has been making those very noises for years, decrying the amounts some people make in salary, bonuses, and stock options.
Many in Congress would love the idea of capping salaries.
As far as the Supreme Court ruling the idea unconstitutional (should a challenge ever make it that far), remember Kelo?
« Last Edit: February 06, 2009, 12:24:04 AM by RocketMan »
If there really was intelligent life on other planets, we'd be sending them foreign aid.

Conservatives see George Orwell's "1984" as a cautionary tale.  Progressives view it as a "how to" manual.

My wife often says to me, "You are evil and must be destroyed." She may be right.

Liberals believe one should never let reason, logic and facts get in the way of a good emotional argument.

lone_gunman

  • Member
  • *
  • Posts: 192
Re: Obama moves to cap executive pay
« Reply #51 on: February 06, 2009, 12:51:17 AM »
What advantage would there be for the government to cap private salaries involving companies not being subsidized by the government?  All it would accomplish is reducing the amount of income tax revenue those salaries would produce for the federal govt.

RocketMan

  • Mad Rocket Scientist
  • friend
  • Senior Member
  • ***
  • Posts: 13,621
  • Semper Fidelis
Re: Obama moves to cap executive pay
« Reply #52 on: February 06, 2009, 01:02:17 AM »
What advantage would there be for the government to cap private salaries involving companies not being subsidized by the government?  All it would accomplish is reducing the amount of income tax revenue those salaries would produce for the federal govt.

Since when do politicians make decisions based on logic?  How often does common sense enter into the typical politician's thought process?
To many on the left, it is all about "fairness".  Logic and reason have nothing to do with anything.
IMNSHO, the word "fair" should only be used when describing fly balls and the weather.
If there really was intelligent life on other planets, we'd be sending them foreign aid.

Conservatives see George Orwell's "1984" as a cautionary tale.  Progressives view it as a "how to" manual.

My wife often says to me, "You are evil and must be destroyed." She may be right.

Liberals believe one should never let reason, logic and facts get in the way of a good emotional argument.

Nitrogen

  • friends
  • Senior Member
  • ***
  • Posts: 1,755
  • Who could it be?
    • @c0t0d0s2 / Twitter.
Re: Obama moves to cap executive pay
« Reply #53 on: February 06, 2009, 08:23:14 AM »
Just a tad insulting, Nitrogen.   Thank you very much.

If one thinks about it, Obama and crew capping executive salaries in general is not that far fetched.  The left has been making those very noises for years, decrying the amounts some people make in salary, bonuses, and stock options.
Many in Congress would love the idea of capping salaries.
As far as the Supreme Court ruling the idea unconstitutional (should a challenge ever make it that far), remember Kelo?

To be blunt, I do think the idea is stupid.  Didn't mean it to be personal though.
Not out of any ideological problem that any politician might have with the idea mind you, but remember, BOTH parties are supported by very wealthy individuals and companies.  The Democrats would not want to do anything to piss off the TLA, Pederson Group, and their other corporate and individual sponsors. Much like the Republicans wouldn't want to piss off the Richard DeVoses, Paul Singer, Tim Menton, etc.

Do you think that if Obama passed a law limiting corporate salaries and bonuses passed, that the Democrats would ever see a dime of any corporate money again?  Assuming such a law was upheld by the courts?

Besides, if you read the law, it's pretty easy to get around, and basically throwing a bone to the masses, so he can say he did something without ever doing it.
יזכר לא עד פעם
Remember. Never Again.
What does it mean to be an American?  Have you forgotten? | http://youtu.be/0w03tJ3IkrM

lone_gunman

  • Member
  • *
  • Posts: 192
Re: Obama moves to cap executive pay
« Reply #54 on: February 06, 2009, 10:21:08 PM »
Quote
Do you think that if Obama passed a law limiting corporate salaries and bonuses passed, that the Democrats would ever see a dime of any corporate money again? 


I suspect George Soros would find another party to support if he was forced to live on $500,000 a year.

Headless Thompson Gunner

  • friend
  • Senior Member
  • ***
  • Posts: 8,517
Re: Obama moves to cap executive pay
« Reply #55 on: February 06, 2009, 10:31:43 PM »


I suspect George Soros would find another party to support if he was forced to live on $500,000 a year.
I suspect any such law would have the necessary loopholes for the likes of Soros.

MicroBalrog

  • friend
  • Senior Member
  • ***
  • Posts: 14,505
Re: Obama moves to cap executive pay
« Reply #56 on: February 06, 2009, 10:38:17 PM »
Soros probably makes his money via stock dividends and proceeds from stock sales, not as a salary. I think.
Destroy The Enemy in Hand-to-Hand Combat.

"...tradition and custom becomes intertwined and are a strong coercion which directs the society upon fixed lines, and strangles liberty. " ~ William Graham Sumner

lone_gunman

  • Member
  • *
  • Posts: 192
Re: Obama moves to cap executive pay
« Reply #57 on: February 07, 2009, 08:25:21 AM »
What kind of loop holes would allow Soros to avoid the salary cap, but not everyone else?

I think if they did a salary cap, they would have no choice but extend it to dividends and stock income, or else the execs they are trying to cap could just get paid in those.

Don't care

  • Member
  • *
  • Posts: 486
deleted
« Reply #58 on: February 08, 2009, 01:20:29 PM »
.

« Last Edit: February 19, 2009, 01:25:59 PM by Don't care »

El Tejon

  • friend
  • Senior Member
  • ***
  • Posts: 3,641
    • http://www.kirkfreemanlaw.com
Re: Obama moves to cap executive pay
« Reply #59 on: February 08, 2009, 05:15:47 PM »
Quote
What advantage would there be for the government to cap private salaries involving companies not being subsidized by the government?

The destruction of the U.S. economy.

Quote
All it would accomplish is reducing the amount of income tax revenue those salaries would produce for the federal govt.

Re-read Saul Alinsky, go back and listen to Barack's answer to the capital gain tax cuts.  The goal is not to raise revenue to operate the government but to destroy the economy so government gets to pull the levers.
I do not smoke pot, wear Wookie suits, live in my mom's basement, collect unemployment checks or eat Cheetoes, therefore I am not a Ron Paul voter.

El Tejon

  • friend
  • Senior Member
  • ***
  • Posts: 3,641
    • http://www.kirkfreemanlaw.com
Re: Obama moves to cap executive pay
« Reply #60 on: February 08, 2009, 05:20:17 PM »
Quote
What kind of loop holes would allow Soros to avoid the salary cap, but not everyone else?

The same ones when we tried this inane cap on executive pay 25 years ago.  The tax lawyers looked at the stupid surcharge on executive pay and then recommended stock options and IRA contributions and signing bonuses.

If not the old ones when the morons in the government tried this before, then new tax lawyers will recommeond different ways around it.

Complete and utter waste of time, money and effort.
I do not smoke pot, wear Wookie suits, live in my mom's basement, collect unemployment checks or eat Cheetoes, therefore I am not a Ron Paul voter.

El Tejon

  • friend
  • Senior Member
  • ***
  • Posts: 3,641
    • http://www.kirkfreemanlaw.com
Re: Obama moves to cap executive pay
« Reply #61 on: February 08, 2009, 05:28:01 PM »
At least in Barack we have the Devil we know, and we have his playbook. =D

“Lest we forget at least an over-the-shoulder acknowledgment to the very first radical: from all our legends, mythology, and history (and who is to know where mythology leaves off and history begins -- or which is which), the first radical known to man who rebelled against the establishment and did it so effectively that he at least won his own kingdom -- Lucifer.”  Saul Alinsky.
I do not smoke pot, wear Wookie suits, live in my mom's basement, collect unemployment checks or eat Cheetoes, therefore I am not a Ron Paul voter.

Monkeyleg

  • friend
  • Senior Member
  • ***
  • Posts: 14,589
  • Tattaglia is a pimp.
    • http://www.gunshopfinder.com
Re: Obama moves to cap executive pay
« Reply #62 on: February 08, 2009, 06:35:08 PM »
Quote
What kind of loop holes would allow Soros to avoid the salary cap, but not everyone else?

Perhaps not loopholes, but people. Perhaps the same people who didn't notice Tom Daschle's tax "mistakes."

Logos

  • I am that am...
  • New Member
  • Posts: 36
Re: Obama moves to cap executive pay
« Reply #63 on: February 08, 2009, 08:58:44 PM »
Actually, the companies are still allowed to pay bonuses in stock, but the stock is frozen until the taxpayers are totally paid back.

Not a bad system, since it creates incentive to make profits and fix problems.
There is not a liberal America and a conservative America - there is the United States of America. There is not a black America and a white America and latino America and asian America - there's the United States of America.
Barack Obama

cassandra and sara's daddy

  • friends
  • Senior Member
  • ***
  • Posts: 20,781
Re: Obama moves to cap executive pay
« Reply #64 on: February 08, 2009, 09:13:42 PM »
while we are at it lets look at union leadership pay and cap it and make them take the samme percentage cuts as membership does.  as well as pare the perks to bare bones.. no more fancy union houses
It is much more powerful to seek Truth for one's self.  Seeing and hearing that others seem to have found it can be a motivation.  With me, I was drawn because of much error and bad judgment on my part. Confronting one's own errors and bad judgment is a very life altering situation.  Confronting the errors and bad judgment of others is usually hypocrisy.


by someone older and wiser than I

Logos

  • I am that am...
  • New Member
  • Posts: 36
Re: Obama moves to cap executive pay
« Reply #65 on: February 08, 2009, 09:44:32 PM »
Yes, let's do that.
There is not a liberal America and a conservative America - there is the United States of America. There is not a black America and a white America and latino America and asian America - there's the United States of America.
Barack Obama

cassandra and sara's daddy

  • friends
  • Senior Member
  • ***
  • Posts: 20,781
Re: Obama moves to cap executive pay
« Reply #66 on: February 08, 2009, 11:53:48 PM »
the union leadership would have to find a new way to steal more to keep up their standard of living.
It is much more powerful to seek Truth for one's self.  Seeing and hearing that others seem to have found it can be a motivation.  With me, I was drawn because of much error and bad judgment on my part. Confronting one's own errors and bad judgment is a very life altering situation.  Confronting the errors and bad judgment of others is usually hypocrisy.


by someone older and wiser than I

Teknoid

  • Member
  • *
  • Posts: 121
Re: Obama moves to cap executive pay
« Reply #67 on: February 09, 2009, 08:24:57 PM »
They're already talking about it.

Barney Frank: TARP's comp curbs could be extended to all businesses

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC&template=printart

Give 'em an inch...

Headless Thompson Gunner

  • friend
  • Senior Member
  • ***
  • Posts: 8,517
Re: Obama moves to cap executive pay
« Reply #68 on: February 09, 2009, 09:19:33 PM »
I sure didn't see that coming...


GigaBuist

  • friends
  • Senior Member
  • ***
  • Posts: 4,345
    • http://www.justinbuist.org/blog/
Re: Obama moves to cap executive pay
« Reply #69 on: February 09, 2009, 09:52:04 PM »
Thanks for the info.  That is a pretty scary decision.  After reading that, it sounds like the federal government can do anything it wants to under the disguise of interstate commerce.  My question would be whether or not the current court would tend to agree.

The current court holds the opinion that a plant grown on your own property for your own consumption, even with state permission to do it, still falls under the interstate commerce clause, and can be stopped.

Gonzalez v. Raich (Medical marijuana case from California)

------

That said, I don't have a problem with salary caps if you're taking Federal dollars.  My own employer has our salaries on his profit/loss sheet with the bank that provides his operating loan.  Beginning this year we're reviewing how much money we bring into the company vs. how much it costs to keep us there every month.  The bank, of course, is doing this too I'm sure.

The bank won't ever impose a direct salary cap, but they will withhold funds from my employer if his financial records look shaky, and might dictate a layoff if need be, or salary adjustments.  It's happened before with us.  No layoffs?  No loan.

Of course, the bank's only interest is in getting back the money they're owed with interest paid on it.  Politicians are more interested in getting votes in the next election.

The former is guaranteed to make logical decisions on the matter.  The later, not so much.

Headless Thompson Gunner

  • friend
  • Senior Member
  • ***
  • Posts: 8,517
Re: Obama moves to cap executive pay
« Reply #70 on: February 09, 2009, 10:32:20 PM »

That said, I don't have a problem with salary caps if you're taking Federal dollars.  My own employer has our salaries on his profit/loss sheet with the bank that provides his operating loan.  Beginning this year we're reviewing how much money we bring into the company vs. how much it costs to keep us there every month.  The bank, of course, is doing this too I'm sure.

I have a problem with it. 

A loan does not grant an ownership interest over the borrower.  The lender does not getto tell the borrower how to behave.  The only authority a lender has over a borrower is enforcing repayment of the loan, plus whatever other conditions were stipulated  as part of the loan agreement. 

Unless it was part of the original agreement, the guy who loaned the money has no right to demand the borrower do anything at all.

I believe that salary limits were stipulated in the TARP loans, so I guess that's fair game.  But I foresee FedGov using the TARP loans to impose all sorts of restrictions on recipients that were never part of the original agreement.  The population will go along with it because they think that having FedGov money means FedGov gets to tell them what to do.  It does NOT mean that. 

lone_gunman

  • Member
  • *
  • Posts: 192
Re: Obama moves to cap executive pay
« Reply #71 on: February 09, 2009, 11:22:14 PM »
Quote
The population will go along with it because they think that having FedGov money means FedGov gets to tell them what to do.  It does NOT mean that. 


Hopefully the fear of being told what to do by the federal government will deter other private corporations from trying to get tax payer money.

RocketMan

  • Mad Rocket Scientist
  • friend
  • Senior Member
  • ***
  • Posts: 13,621
  • Semper Fidelis
Re: Obama moves to cap executive pay
« Reply #72 on: February 10, 2009, 01:07:54 AM »
They're already talking about it.

Barney Frank: TARP's comp curbs could be extended to all businesses

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090203/REG/902039977/1003/TOC&template=printart

Give 'em an inch...

No surprise there.
If there really was intelligent life on other planets, we'd be sending them foreign aid.

Conservatives see George Orwell's "1984" as a cautionary tale.  Progressives view it as a "how to" manual.

My wife often says to me, "You are evil and must be destroyed." She may be right.

Liberals believe one should never let reason, logic and facts get in the way of a good emotional argument.

Monkeyleg

  • friend
  • Senior Member
  • ***
  • Posts: 14,589
  • Tattaglia is a pimp.
    • http://www.gunshopfinder.com
Re: Obama moves to cap executive pay
« Reply #73 on: February 10, 2009, 01:17:27 AM »
Is the government going to put a cap on how much government workers can make?

Further, why do government workers need unions? Is the government a mean, miserly employer?

K Frame

  • friend
  • Senior Member
  • ***
  • Posts: 44,297
  • I Am Inimical
Re: Obama moves to cap executive pay
« Reply #74 on: February 10, 2009, 01:33:03 AM »
I would hope that a government restriction on pay for execs of companies not participating in TARP would be quickly struck down by the courts.
Carbon Monoxide, sucking the life out of idiots, 'tards, and fools since man tamed fire.