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 ...
Yea, stupid retards. They shot themselves in the ass. However, that being siad, it is still laws passed by CONGRESS that created it to begin with. Going back as far as 1977 and the CRA. The whole house of cards was set up to fall in such a way as to CREATE the NEED for Socialism, and a guaranteed income for lazy bastards that won’t work for a living. To do that they have to decapitate those at the top so they can give that money to those at the bottom.
The idiot supporters of this who are among the current rich are the first targets, and are sitting there wondering why the dog they just fed is ripping out their guts now. Fools.
He should be in prison or under the death penalty for Treason.
Sorry, had to do that :)
Salary caps never apply to the political class.
In all countries where something like this has been enacted, the political leaders became a ruling class with no salary limit, yet the power to give themselves as much of a salary they wish.
It is the ultimate caste system, with the political power versus the rest of us.
In every case where this has been tried, production comes to a halt as there is no incentive to achieve. Everyone becomes poorer as the baseline of income drops. These actions don’t build up the poor, they only hurt the achievers. This will hurt the poor most as the achievers will have to cut back, obviously, and when they stop spending and producing, the jobs that everyone has will be hurt.
Of course, when that happens, Big Brother will need to step in and ‘fix’ that problem and you’ll end up having a 100% government defined employment and wage system. Of course, Big Brother is always exempt.. it is the ultimate power grab..
Call attention to it!
USE it...
To turn as many people as possible. Make it hit home with folks and RADICALIZE them into action.
We cant keep patching things up and inching further into marxisim. Its time leave that behind and create a new nation of free states. We can use this manufactured “crises” to achieve our goals. We can use their own monster against them..
Yes we can.
Indeed it is. I'm more than ready to show these a$$hats who has the real power in this Country.
I don't know how this is all going to unfold but I wish it would happen soon. It's draining my business as well as my temper.
I believe that is a dangerous way of thinking, although I understand it. A second revolution would not end so well, I fear. It’s more likely to resemble the French Revolution.
Gee, shouldn’t we also be setting salaries for Washington? Not to mention term limits and pension qualification service/
These clowns go to Washington, make millions and retire on our nickel. Barney is a dangerous and stupid man.
When are the sheeple going to see it? There is NO LIMIT to the extent to which the ignorant, brutish, leviathan govenment seeks to control our lives. NO limit whatsoever.
No, “investment” and operating revenue from contracts are exactly the opposite in one sense. Investment flows from principals to the corporation. Operating revenue flows from customers to the corporation, thence to the original investors, either in the form of equity or dividends. Hospitals and places that get grants, you might be right.
It comes down to this:
WE ARE THE LIMIT.
Those in power now, quake at the thought of us rising up and throwing them out. It is the ONLY thing they fear.
democrat=socialist=progressive=fascist=communist
Good thing we aren’t French then eh?
Oh yes we can.
Really we are a Nation of Thomas Paine’s. Time to walk the talk.
I disagree. The Socialists in power are COUNTING on us not fighting back.
I am not down with that.
To the people who laughed when I said “communism.” I’m the one laughing now. This is pure communism. The #1 dogma of communism is that the collectivity controls all the means of production. #2 is there is no private property.
A corollary of that is that the government is the only employer.
I expected that much from BHO.
What really disgusts me is that the American public is acting like nothing more than sheep.
Take back all the TARP money, all Federal Reserve special transactions, let these banks fail and I am all for free enterprise. Until then, take federal bailouts and get stuck with salary caps. Don't like it, don't fail.
Understatement of the year. Disgusting pigs in DC setting salaries of people who actually do honest work for a living. This idea does not even pass the laugh test-- things must be desperate in DC for anyone even to contemplate it seriously. If this passes, the next bill will be to control the massive civil unrest that will certainly follow and protect Congress from the people they allegedly serve.
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