Americans for Prosperity and Maximum Wage laws

[nadinbrzezinski]

The time for half-measures is over. Corporate tycoons have proven that they cannot be trusted to properly run their own businesses. Unnecessary largess at worker and stockholder expense must come to an end. It is time for a corporate maximum wage law. This law must be directed at the top five percent of American earners. It must be broadly written to include hedge fund miss-managers, automotive executives and financial CEOs. Multi-million dollar birthday parties, private jets that escort executives to beg for taxpayer money and golden parachutes for retiring moguls all prove that the time has long since come for Congress to rein in corporate compensation. America needs full-scale government protection against corporations.

I’m kidding of course, but don’t be surprised if you hear this drumbeat in the very near future.

Instead of allowing firms that endanger their viability by engaging in this type of behavior to fail, and thus suffer the punishment of their mismanagement, the government is bailing them out. By removing the natural negative incentive from the marketplace, Congress is going to be forced to install an artificial one; one that they can dictate and manipulate.

This is the problem with socializing risk by providing taxpayer money to bailout failing private industry: there is no longer a justification for not allowing government to control companies for the ‘good of the taxpayer.’ The automotive bailout bill that recently passed the House of Representative but died in the Senate, contained several such artificial negative incentives. They included: limiting bonuses for the top 25 highest paid employees, banning large retirement payouts and in the most petulant of provisions, barred recipient companies from owning private jets.



Read more: http://www.americansforprosperity.org/020409-next-maximum-wage-laws#ixzz1bivpkV00

I have been saying this is where they want to go...back to the past...but from proverbial horses mouth.

[Riftaxe]

1. December 19, 2008 is the date on the op-ed

a 3 year old opinion piece alking about current events then is not unusual.

[Vincardog]

2. How about this? Don't allow any compensation that exceeds 100 times the average company wage from

being deducted as expense from the taxable income of the company.
That way we might get them to pay SOME taxes, even if it is on the couple of billion they lavish on their chosen golden ones.

[nadinbrzezinski]

3. But watch this go back to historic realities

Where those maximum wages should be for you and me.