Stories like this are going to eventually lead to a limit to how much money an individual can earn from a company. I think it stinks, but there’s allot of emotion at work here, and it is being played by the dems and liberals to the hilt. Of course stories like the one of WaMu’s CEO doesn’t make it easier to make the case for CEO pay being the free choice of a company.
What’s bad is this is going to be the gateway of the government being able to set the salaries for just about anyone, based on public opinion. A very slippery slope.
I'm afraid it may even be worse than that--can stories like this force our children to accept the idea that success is a bad thing, even unAmerican? That they should, instead, push for the lowest common denominator?
The rats have a clear plan to provide government the power to set wages for vast parts of the economy. The first leg of the plan is the proposed "Pay Check Protection" law. This law will almost mandate unions in every workforce. If your state does not have right to work, you will be forced to pay union dues. Any employer that is still not organized will be harrassed by the labor department. Any employer who resists "fair" bargaining will be sanctioned by the labor departement. In the second leg, the rats have another proposed law to force gender equity in compensation. This law will mandate the labor department to determine salary scales in almost every occupation. In the third leg, the rats will impose every kind of imaginable employer mandate including living wage, health care, workplace environment, racial quotas, disability, and family leave.
The transformation in the labor market will be profound. If you have a job in a protected industry, you will be satisfied. If you are not in a protected industry or seeking work, you are in for a rough ride. European levels of unemployment are waiting. The rat response will be to vastly increase unemployment compensation.
The only salvation may be self employment. The constraints on hiring will be so high that you will need to go alone. The IRS may curtail self employment using its onerous rules for contractors. Essentially the IRS forces many self employed into employee status.
Hey, they already set the minimum wage. Can they set the maximum wage?
“this is going to be the gateway of the government being able to set the salaries for just about anyone, based on public opinion. A very slippery slope.”
Franklin Raines and Jamie Gorelick have done just fine. Fine and dandy. Fuld, too. Johnson. Google it.