EMPLOYEE SALARIES THE NEW DEMOCRAT TARGET
In the aftermath of the self righteous and false anger displayed over the AIG bonuses the House passed an unconstitutional bill taxing 90 to 100% of the bonuses for any company receiving bailout money. As the story faded from headlines the support for the unconstitutional legislation also faded and disappeared in the Senate.
Letting an unconstitutional bill die was not satisfactory for House Financial Services Committee Chairman Barney Frank. So quietly and quickly the Massachusetts liberal introduced a measure that doesn't just stop at bonuses but gives authority to tax evading Treasury Secretary Timothy Geithner to determine whether ANY employee of ANY company receiving TARP or other bailout bucks, is taking home either an, "excessive," or undeserving salary.
This measure does not stop at the CEO or upper management level it includes every employee in all companies from the CEO to the janitor. The legislation is called the, "Pay Performance Act of 2009," designed to, " "prohibit unreasonable and excessive compensation and compensation not based on performance standards." This measure begins crossing a fine line between taking over management of companies who recieve bailout funds and the ability to go after ANY company or employee and ALL American business, nationalizing business and business practice.
It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give tax evading Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies, including regular pay, bonuses, everything paid to every employee would fall under the auspices of this also unconstitutional bill.
Once again we are seeing the government move in and take over the day to day management of business including determining the viability of employees and whether they are worthy of compensation being received for their job performance. One more step in the complete government take over of business under the socialist agenda of the Obama administration and Democrat counter parts in Congress.
Nowhere in the Constitution is Congress, the President or any of the Cabinet members allowed the authority to manage private business, determine employee salaries or decide the future dealings of any company in this country. Yet this illegal take over of business continues and is escalating at an alarming rate.
This coming from a Congress and an administration who cannot manage their own business. In fact news has come out of yet another Obama appointee who like so many others have tax problems. The most recent nominee for House and Human Services Secretary, Kathleen Sebelius like previous nominee Tom Daschle and a long list of other appointees, has had to pay back taxes that were evaded until being nominated and then miraculously the, "simple mistake," was corrected.
Setting aside the obvious inability of Obama, his appointees and the Congress to manage their own affairs, the audacity and illegality of government take over even to the point of managing the day to day affairs of private business is being treated with little concern for the unconstitutional and illegal moves by this administration and the nationalizing of American companies. A move like any other government entity advertised as temporary, only to become permanent as time goes by as the news moves on and the people forget. It is this forgetfulness and short attention span of the American people that Obama and clan are counting on to complete their socialist coup.
Ken Taylor
Letting an unconstitutional bill die was not satisfactory for House Financial Services Committee Chairman Barney Frank. So quietly and quickly the Massachusetts liberal introduced a measure that doesn't just stop at bonuses but gives authority to tax evading Treasury Secretary Timothy Geithner to determine whether ANY employee of ANY company receiving TARP or other bailout bucks, is taking home either an, "excessive," or undeserving salary.
This measure does not stop at the CEO or upper management level it includes every employee in all companies from the CEO to the janitor. The legislation is called the, "Pay Performance Act of 2009," designed to, " "prohibit unreasonable and excessive compensation and compensation not based on performance standards." This measure begins crossing a fine line between taking over management of companies who recieve bailout funds and the ability to go after ANY company or employee and ALL American business, nationalizing business and business practice.
It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give tax evading Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies, including regular pay, bonuses, everything paid to every employee would fall under the auspices of this also unconstitutional bill.
Once again we are seeing the government move in and take over the day to day management of business including determining the viability of employees and whether they are worthy of compensation being received for their job performance. One more step in the complete government take over of business under the socialist agenda of the Obama administration and Democrat counter parts in Congress.
Nowhere in the Constitution is Congress, the President or any of the Cabinet members allowed the authority to manage private business, determine employee salaries or decide the future dealings of any company in this country. Yet this illegal take over of business continues and is escalating at an alarming rate.
This coming from a Congress and an administration who cannot manage their own business. In fact news has come out of yet another Obama appointee who like so many others have tax problems. The most recent nominee for House and Human Services Secretary, Kathleen Sebelius like previous nominee Tom Daschle and a long list of other appointees, has had to pay back taxes that were evaded until being nominated and then miraculously the, "simple mistake," was corrected.
Setting aside the obvious inability of Obama, his appointees and the Congress to manage their own affairs, the audacity and illegality of government take over even to the point of managing the day to day affairs of private business is being treated with little concern for the unconstitutional and illegal moves by this administration and the nationalizing of American companies. A move like any other government entity advertised as temporary, only to become permanent as time goes by as the news moves on and the people forget. It is this forgetfulness and short attention span of the American people that Obama and clan are counting on to complete their socialist coup.
Ken Taylor
posted by The Liberal Lie The Conservative Truth | 9:56 AM
3 Comments:
I really do not understand your position. The government is not intruding on any private firm that does not take public taxpayer money.
If you are the CEO of a company that needs government money but you don't like the rules, you have a choice. Take the money and accept the restrictions, or don't take the money.
As a taxpayer, it seems prudent to put in restrictions to ensure that people are not just enriching themselves at taxpayer expense.
So Rob, you are in favor of a tax evading Treasury Secretary, dictating to any company that uses TARP money what to pay their janitor ?
It is only a fine line between TARP business and any business becoming a controlled by government.
When have you known government to give up anything that it latches onto. Never, and that is what will happen to these comanies even when TARP is used up. Then the power grab will expand until all business becomes nationalized and controlled.
This is not restriction Rob, controlling saleries at all levels and Geithner having control over whether any employee is being paid to much is a power grap and not watching out for tax payer dollars.
Mark my word this will expand as they see that the ability to get away with it continues!
No Treasury Secretary is going to waste his/her time worrying about what a janitor makes. He/She wouldn't be Treasury Secretary very long given the enormous problems he/she has to deal with.
You are worrying about nothing.
I have no issue with any firm that takes taxpayer money being subject to reasonable compensation rules.
Are you telling me you thought the AIG bonuses were acceptable and deserved? How about the millions that Merrill Lynch executives paid themselves after they got their billions in TARP funds?
Putting a $500,000 cap on annual compensation for any firm receiving a bailout is prudent and seems reasonable to me. That is Congress just protecting the American taxpayer.
If Congress mandated salaries for private enterprises that did not take federal bailout money, I would agree with you, but that is NEVER going to happen.
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