Interestingly enough.... just an hour before I saw another article that said Obama was going to seek a limit of 750k max for executives. I guess someone told him that would not go over too well.
I would love to know though.... where exactly in the constitution does the Pres or some Czar appointee who is not elected by anyone, have the power to start tinkering with someone's pay? Where is the Supreme Court here? Will no one make a consitutional challenge on this one?
If the govt has the right to set a private companies executive pay, then they also have the right to set anyone's pay that they choose. It can be argued whether exec pay is fair or outrageous, etc. But I would think it could not be argued that legally this govt move is illegal, and without precedent. I just want to hear the Supreme Court try to justify this one.
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"An official said the administration will appoint a "special master" to oversee compensation at firms receiving large amounts of government assistance. The pay overseer would have the power to reject excessively generous pay plans."
Maybe those affected will go to another company. Wouldn't that be the lesson if there was a flight of those people to other companies or start their own. Then the remaining janitor takes the head job and the government heralds it as a Horatio Alger story.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
Ah, the Romanoffs have taken up residence in the administration. Welcome to Mother Russia. Is there a proposed cap on the pay for all this high powered administration help, perhaps they should work for performance pay.
I guess whoever appointed the first Tsar, which IIRC was the drug Tsar, set a bad precedent. Hey, so far no Tsarinas.
All these Tsars are way too much. Good thing is that since I and DW retired, federal taxes are way, way down, so are my state taxes. So my direct cost for all these Tsars is negligible.
__________________
There must be moderation in everything, including moderation.
I'd like to propose a czar czar. This individual would regulate creation of new czars and regulate pay of the current czars. After all, we have to monitor closely the ever-increasing czar population. Please spay/neuter your czar.
Uncontrolled expansion of the czar supply can lead to hyperinflation of czars. And if there is anything I fear more than the current czars, it is mounds upon mounds of worthless czars in the future.
"An official said the administration will appoint a "special master" to oversee compensation at firms receiving large amounts of government assistance. The pay overseer would have the power to reject excessively generous pay plans."
Maybe those affected will go to another company. Wouldn't that be the lesson if there was a flight of those people to other companies or start their own. Then the remaining janitor takes the head job and the government heralds it as a Horatio Alger story.
Yup.... that is about the way I see it. Like I have said before.... it is only a matter of time until you start seeing the govt begin to say things like... "You will not be allowed to quit.... for the good of the country you will be forced to (fill in the blank).... and so on..."
The belief in a utopian like society must be abandoned if we are to survive. That is what is really driving most of this nonsense. The prevailing wisdom (if you want to call it that), is that "if only all the people would do XYZ, then everything would be great for everyone..." And then comes the inevitable... "Well if there are some people that will not go along with the program then (as the govt), we will force them to comply!... after all it is for their own good!". This is the theme that I am seeing about to be played out.
Cars are not fuel efficient enought? No problem... we will just FORCE the automakers to build a more fuel efficient car. What... people are not buying those cars because they do not like them for some reason? No problem... we will make the import taxes on foreign cars so high that no one can possibly afford to buy other than what we tell them to.
This is exactly the sort of thing that the founding fathers tried to protect the country against when it was formed...
It appears this thread is drifting towards a purely political discussion which will result in the thread being closed. Please keep this in mind as you get back on a FIRE related topic.
__________________ Numbers is hard...
90% of building a retirement nest egg is just showing up. The other 10% is half the battle.
I'd like to propose a czar czar. This individual would regulate creation of new czars and regulate pay of the current czars. After all, we have to monitor closely the ever-increasing czar population. Please spay/neuter your czar.
Uncontrolled expansion of the czar supply can lead to hyperinflation of czars. And if there is anything I fear more than the current czars, it is mounds upon mounds of worthless czars in the future.
Yup.... that is about the way I see it. Like I have said before.... it is only a matter of time until you start seeing the govt begin to say things like... "You will not be allowed to quit.... for the good of the country you will be forced to (fill in the blank).... and so on..."
The belief in a utopian like society must be abandoned if we are to survive. That is what is really driving most of this nonsense. The prevailing wisdom (if you want to call it that), is that "if only all the people would do XYZ, then everything would be great for everyone..." And then comes the inevitable... "Well if there are some people that will not go along with the program then (as the govt), we will force them to comply!... after all it is for their own good!". This is the theme that I am seeing about to be played out.
Cars are not fuel efficient enought? No problem... we will just FORCE the automakers to build a more fuel efficient car. What... people are not buying those cars because they do not like them for some reason? No problem... we will make the import taxes on foreign cars so high that no one can possibly afford to buy other than what we tell them to.
This is exactly the sort of thing that the founding fathers tried to protect the country against when it was formed...
Your turntable appears to be non-functional.
__________________ You should not assume that I have a clue about anything I post. If you need a lawyer, go get your own.
So in a nod to FIRE relating this thread before the overlords lock it, anyone in the financial sector worried about their incomes being capped? It seems like a few folks that post here make multiple hundreds of thousands of dollars in finance related careers. Those that are still employed, are you worried that your fast track to FIRE is about to have the brakes applied?
While I'd love to be earning enough to have that concern (I'd be FIREd already, I hope), unless it's a company that (a) takes taxpayer money AND (b) has a choice to refuse it, the feds have no business setting a "maximum wage."
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
Interestingly enough.... just an hour before I saw another article that said Obama was going to seek a limit of 750k max for executives. I guess someone told him that would not go over too well.
I would love to know though.... where exactly in the constitution does the Pres or some Czar appointee who is not elected by anyone, have the power to start tinkering with someone's pay? Where is the Supreme Court here? Will no one make a consitutional challenge on this one?
If the govt has the right to set a private companies executive pay, then they also have the right to set anyone's pay that they choose. It can be argued whether exec pay is fair or outrageous, etc. But I would think it could not be argued that legally this govt move is illegal, and without precedent. I just want to hear the Supreme Court try to justify this one.
Does using the word "fascism" invoke Godwin's Law?
I think the Supremes can't just willy-nilly decide that something is unconstitutional. Someone must challenge it in court first...
Quote:
Originally Posted by FUEGO
I'd like to propose a czar czar. This individual would regulate creation of new czars and regulate pay of the current czars. After all, we have to monitor closely the ever-increasing czar population. Please spay/neuter your czar.
Uncontrolled expansion of the czar supply can lead to hyperinflation of czars. And if there is anything I fear more than the current czars, it is mounds upon mounds of worthless czars in the future.
This is bi-czar...
Quote:
Originally Posted by REWahoo
It appears this thread is drifting towards a purely political discussion which will result in the thread being closed. Please keep this in mind as you get back on a FIRE related topic.
Quote:
Originally Posted by Gumby
Your turntable appears to be non-functional.
No, it's the record that's broken...
__________________ Have Funds, Will Retire "...but do feel free to assert your duly noted opinion on this subject again without benefit of reference or provision of additional information..."
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