Posted on 03/31/2009 7:22:47 AM PDT by Danae
It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.
But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
(Excerpt) Read more at washingtonexaminer.com ...
Oh you silly little liberals, how's that change workin for ya now. Now they are gonna lower Min wage in the sudden realization that it means businesses can hire fewer employees, oh and fire people cause they have the 'better' insurance deal.
You liberal bastards, these are YOUR creatures. I blame you. Ugh I am so pissed off.
Federal capitol investment- how broadly defined? any hospital, university, school, state, county or city that takes government funds? Any aerospace, construction, consulting, you name it firm, that has a government contract?
That’s what it sounds like.
“The measure is not limited just to those firms that received the largest sums of money, or just to the top 25 or 50 executives of those companies. It applies to all employees of all companies involved, for as long as the government is invested. And it would not only apply going forward, but also retroactively to existing contracts and pay arrangements of institutions that have already received funds.”
If that’s the case - anyone looking for an electrical engineer looking to work more in the field of fiber optics/lasers???
“”This bill will show which Republicans are so much on the take from the financial services industry that they’re willing to actually bless compensation that has no bearing on performance and is excessive and unreasonable,” Grayson said. “We’ll find out who are the people who understand that the public’s money needs to be protected, and who are the people who simply want to suck up to their patrons on Wall Street.””
Uh hua, and we are ALSO going to find out who the Socialist bastards ARE who support Socializing and NATIONALIZING America into the direct power and CONTROL of the federal Government!
Everyone who votes AGAINST this bill is voting for a FREE America, and for American Businesses to RUN THEMSELVES, and NOT be run by a Government like Castro runs every industry in Cuba!
Congress CREATED THIS CRISIS SO THEY COULD USURP FREE BUSINESSES INTO THE CONTROL OF GOVERNMENT. THIS IS DELIBERATE. THIS IS A SOCIALIST TAKEOVER OF AMERICA!!!!!!!
Names to remember. Republican names.
"This bill will show which Republicans are so much on the take from the financial services industry that they're willing to actually bless compensation that has no bearing on performance and is excessive and unreasonable," Grayson said. "We'll find out who are the people who understand that the public's money needs to be protected, and who are the people who simply want to suck up to their patrons on Wall Street."
A threat -- any Republican who votes against this theft that reaches down to the lowliest employee of these companies (and eventually all companies) will be labelled "on the take" by the Democratic goons in Congress.
After the AIG bonus tax bill was passed, some members of the House privately expressed regret for having supported it and were quietly relieved when the White House and Senate leadership sent it to an unceremonious death. But populist rage did not die with it, and now the House is preparing to do it all again.
Message to the 85 Republicans who supported the original 90% tax bill: Actions Have Consequences. The Democrats now want to wipe your face in your own cowardice.
The first government salary cap we need to look as is congressional salaries.
Any government that can impose a minimum wage can impose a maximum wage as well.
“Federal capitol investment- how broadly defined? any hospital, university, school, state, county or city that takes government funds? Any aerospace, construction, consulting, you name it firm, that has a government contract?”
Worth repeating!! BTTT!!
The inmates are literally running the asylum. If Barney Frank wouldn’t fire himself for the piss poor performance he has put in and the catastrophic results of his work he has no justification to even voice an opinion on the salaries of ANYONE else.
Post Office.....
Were also gonna find out who redraws their personal line in the sand even further back... again....
Its time folks... Im not sure how much more clear it can possible be...
The States that are willing to be free need to get the ball rolling faster.
They have a mandate for change, remember?
These ignorant little pigs think they can do whatever they want and we keep letting them get away with it.
“”This bill will show which Republicans are so much on the take from the financial services industry that they’re willing to actually bless compensation that has no bearing on performance and is excessive and unreasonable,” Grayson said.
Correct me if I am wrong, but didn’t Wall Street firms give way more money to Dems this past election ??
Yea, on the whole scale of FIRING THEM.
I am seriously beginning to think that its going to take an armed take over by the people to stop this crap. That is a simply astounding concept to me. We are indeed in the early stages of the Second American Revolution.
I can't wait to see him snivel off to prison.
Lockheed Martin, Boeing, you name the contract, there ya go. Anyone who does business with the Fed will eventually fall under this as they stretch it to fit.
This Bill MUST be FReeped. A call to action, this is BAD news. VERY bad.
We don’t need or want to “take over” the mess created by these psychopaths. We would do so much better to just walk away and leave them to it. If, after we walk away from them they wanna fight... Well, thats another story, but at least we will have the moral high ground in that battle and that means something.
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