Selective Salary Caps.

[kyzr]

First of all...what right do they have to tell anyone what they can make?

Secondly...yes they have proposed that all bank positions maintain a max salary of $500k in Congress.

Personally I don't think you or anyone else has the right to say what anyone can make.

If you are playing with your own money, I agree. As soon as you sell stock to the public, you don't get to play God. Tell me if I'm the CEO and and you are on the compensation committee that you won't give me what I tell you I want? If you don't you're gone. Same with the Board of Directors, they are all part-timers glad to get lots of money for doing very little. As an investor I'd like to see top execs get government oversight. Tell me that $500,000 a year for doing banking isn't a good salary? Every dollar over $500,000 should be paid in dividends to the investors, who actually put up the money that the execs play with.

 

[kyzr]

Barney Frank and Chris Dodd caused the banking crisis.

Now they control banking in this country.

Unions caused GM and Chrysler to almost go bankrupt...so now they control them.

The Democrats now control the Health Insurance industry.

Next is the Big Oil.

After that...everyone else including you and me.

Er, what happens when the dems lose in 2010 and 2012? You sound like the dems whining about Bush, how he was going to declare martial-law and stop elections. The DC clowns only have as much power as the voters agree with.

 

[theDoctorisIn]

What are you talking about? When has anyone suggested capping anyone's salary except for bailed out companies? If a company is so deep in the weeds that they will go bankrupt if not propped up, they sure as hell don't need to be paying their executives 7 figure salaries. I just don't understand how you "conservatives" reconcile that.

First of all...what right do they have to tell anyone what they can make?

Secondly...yes they have proposed that all bank positions maintain a max salary of $500k in Congress.

Personally I don't think you or anyone else has the right to say what anyone can make.

Prove it.

 

[mudwhistle]

First of all...what right do they have to tell anyone what they can make?

Secondly...yes they have proposed that all bank positions maintain a max salary of $500k in Congress.

Personally I don't think you or anyone else has the right to say what anyone can make.

If you are playing with your own money, I agree. As soon as you sell stock to the public, you don't get to play God. Tell me if I'm the CEO and and you are on the compensation committee that you won't give me what I tell you I want? If you don't you're gone. Same with the Board of Directors, they are all part-timers glad to get lots of money for doing very little. As an investor I'd like to see top execs get government oversight. Tell me that $500,000 a year for doing banking isn't a good salary? Every dollar over $500,000 should be paid in dividends to the investors, who actually put up the money that the execs play with.

I think if you ever start to earn more then that you should have to give it to someone else....same for Congress and especially Obama.....it's only fair. We must have Social Justice in this country.

I wonder how only making a limited amount will effect productivity in this country? Nobody will be able to afford to by a sports franchise. Nobody will be able to start a restaurant chain. No McDonalds, Burger King...none of that because nobody will be allowed to make enough to afford the overhead or even purchase the company. No cars, no name brand products. Everything will be locally owned and operated. All products will be hand made not manufactured.

How does that sound? Anything else won't be fair. One group cannot be singled out just because you don't like them.

 

[Joe Steel]

Personally, I don't have any trouble with people earning a zillion dollars a month - provided they pay taxes accordingly with an escalating tax rate directly proportional to income.

That's a good start but we should take another step.

In addition to steeply progressive tax rates, we should tax income from some sources at higher rates than from other sources. For instance, a million dollar taxable income for an athlete or other entertainer should be taxed at a higher rate than for a doctor. Such a policy would generate higher tax revenue without significant risk attributable to any tax rate disincentive. If an athlete decided he didn't want to pay higher taxes, who cares? Let him quit and flip burgers. We'll find someone else to throw a ball around. We wouldn't want to treat a doctor that way, though, so we let them pay lower taxes.

 

[mudwhistle]

What are you talking about? When has anyone suggested capping anyone's salary except for bailed out companies? If a company is so deep in the weeds that they will go bankrupt if not propped up, they sure as hell don't need to be paying their executives 7 figure salaries. I just don't understand how you "conservatives" reconcile that.

First of all...what right do they have to tell anyone what they can make?

Secondly...yes they have proposed that all bank positions maintain a max salary of $500k in Congress.

Personally I don't think you or anyone else has the right to say what anyone can make.

Prove it.

They're changing banking regulations to force them to comply. They demanded the records of several banks that didn't take TARP funds so they could declare they were in trouble thus fall under new regulations. If the Obama Administration declares you're failing you come under the thumb of the government.

In coming months, President Barack Obama and Congress will pick winners and losers in tackling the biggest overhaul in financial regulation since Franklin D. Roosevelt and Congress created the Federal Deposit Insurance Corp. and the Securities and Exchange Commission in the 1930s. It’s part of the price the industry must pay after a $700 billion bank bailout.
?Failed? Wall Street Forces Biggest Rewrite of Rules (Update2) - Bloomberg.com

It's funny but even the cap you think will nail the ones that took money has too many exceptions that allows them to avoid the cap.
Why the CEO salary cap is a joke - MSN Money - Jubak's Journal

 

[editec]

I was thinking today about the $500K ceiling that Democrats want to put on CEOs earnings.

I wonder who's idea this was?

I also wonder why it's confined to only CEOs. Why not Hollywood actors. Why not sports athletes as well.

Some CEOs do make alot of money...but for someone on the "A" List in Hollywood they demand $20 million a picture.

Some basketball players are signing $100 million contracts. It seems that each time we hear about one it's the highest in history.

Why is it that CEOs are the only people being singled out? Why not actors and athletes too?

Do you think Obama is gonna demand that Tim Duncan spread the wealth...give that money to the needy....only earn $500k? Figure the odds on that.

Personally I think it's a sneaky form of racism....but that's just me.

That cap is only on companies which exist because of the largess of the US taxpayer.

Did you NOT know that?

 

[Nosmo King]

In the first place it shouldn't be the governments policy to bail out these business' either. I would hate to see anyone lose their hard earned money, but this should serve as a wake up call to everyone who has money invested into this banks, car companies, etc... Free Market System is survival of the fittest. And if a company pays its exec's to the point of bankruptcy then down the drain they go. Its always been that way in the US until recently when the government decided they needed to get involved and save everyone. My argument may have some faults, I admit that, but you get the gist of what I am saying.

Hence the need for regulation! Gee! How come that scheme to privatize Social Security fell like a lead canoe?

Because people know that an unregulated market is the province of greed and thieves.

Why do conservatives believe an unregulated market is the safest place to put the retirement security of millions?

 

[Lonestar_logic]

I was thinking today about the $500K ceiling that Democrats want to put on CEOs earnings.

I wonder who's idea this was?

I also wonder why it's confined to only CEOs. Why not Hollywood actors. Why not sports athletes as well.

Some CEOs do make alot of money...but for someone on the "A" List in Hollywood they demand $20 million a picture.

Some basketball players are signing $100 million contracts. It seems that each time we hear about one it's the highest in history.

Why is it that CEOs are the only people being singled out? Why not actors and athletes too?

Do you think Obama is gonna demand that Tim Duncan spread the wealth...give that money to the needy....only earn $500k? Figure the odds on that.

Personally I think it's a sneaky form of racism....but that's just me.

Meanwhile congress keeps giving themselves raises.

 

[Lonestar_logic]

I was thinking today about the $500K ceiling that Democrats want to put on CEOs earnings.

I wonder who's idea this was?

I also wonder why it's confined to only CEOs. Why not Hollywood actors. Why not sports athletes as well.

Some CEOs do make alot of money...but for someone on the "A" List in Hollywood they demand $20 million a picture.

Some basketball players are signing $100 million contracts. It seems that each time we hear about one it's the highest in history.

Why is it that CEOs are the only people being singled out? Why not actors and athletes too?

Do you think Obama is gonna demand that Tim Duncan spread the wealth...give that money to the needy....only earn $500k? Figure the odds on that.

Personally I think it's a sneaky form of racism....but that's just me.

You would. I suppose you think that only whites are CEO's, huh?

Only white? No. Mostly white? Yes.

 

[Lonestar_logic]

What are you talking about? When has anyone suggested capping anyone's salary except for bailed out companies? If a company is so deep in the weeds that they will go bankrupt if not propped up, they sure as hell don't need to be paying their executives 7 figure salaries. I just don't understand how you "conservatives" reconcile that.

What he said. And plus, these guys are already millionaires, I"m sure they can survive a year or two making 1/2 a million dollars.

Ever gotten a job from a poor man? Who are you to say how much money a man can earn?

 

[Care4all]

Hording, or keeping much more than necessary, hurts the economy and society....we need these rich guys to stop hording and SPEND SPEND SPEND....on yard workers, construction work, on clothes, on cars, boats, on building the community a new center, or on a football stadium....THEY need to start spending so jobs can be created.....at this point they have withdrawn and are holding on to their money tightly....

 

[DiamondDave]

What are you talking about? When has anyone suggested capping anyone's salary except for bailed out companies? If a company is so deep in the weeds that they will go bankrupt if not propped up, they sure as hell don't need to be paying their executives 7 figure salaries. I just don't understand how you "conservatives" reconcile that.

What he said. And plus, these guys are already millionaires, I"m sure they can survive a year or two making 1/2 a million dollars.

I am sure you could survive on half your salary as well.. but in a free society, the government should not be telling you or them what limits they have on their earnings...

Quite frankly, the government should NOT be bailing out any private company.. there is no such thing as 'too big to fail'... This is nothing more than a selective power grab by those in government who want to assert more power in areas that they have not had it before

 

[Lonestar_logic]

Hording, or keeping much more than necessary, hurts the economy and society....we need these rich guys to stop hording and SPEND SPEND SPEND....on yard workers, construction work, on clothes, on cars, boats, on building the community a new center, or on a football stadium....THEY need to start spending so jobs can be created.....at this point they have withdrawn and are holding on to their money tightly....

Who are you to say how much is necessary? You know rich guys would probably spend more if they weren't taxed to fucking death? I'm willing to bet that I paid more in taxes than you make in a year! You do know that the rich guys pay most of the fucking taxes, don't you? So when you get rid of the rich guys, your sorry ass will be picking up the tab.

 

[Care4all]

usmb Board members have no problem telling government workers, that they make too much money, have too many benefits etc etc etc.... why not tell ceo's that failed and had to take gvt money to prop them up after they made their own mistakes.....?

 

[Nosmo King]

Hording, or keeping much more than necessary, hurts the economy and society....we need these rich guys to stop hording and SPEND SPEND SPEND....on yard workers, construction work, on clothes, on cars, boats, on building the community a new center, or on a football stadium....THEY need to start spending so jobs can be created.....at this point they have withdrawn and are holding on to their money tightly....

The vast majority of Americans are not the rich. The vast majority of Americans are far more capable of stimulating the economy by consumer spending than the rich.

Why do Conservatives think that by only giving the rich tax breaks the economy will suddenly spring to life? Give everyone making $50,000 or less tax breaks and the spending will happen.

Sometimes I think conservatives are like the New York Yankees and their fans. If the Yankees can continue to buy championships in a league without salary caps, they are happy. With salary caps comes parity. More teams have a real chance at winning the World Series. Everyone then gets interested in baseball. Not just the richest teams and their fans.

Apply the baseball paradigm to the economy and suddenly coddling the rich seems silly when the big picture is considered.

 

[chanel]

Are there caps on the Fannie/Freddie people? How much do they make or have the potential of making?

BTW mud - the highest paid state employee in NJ is the Rutgers Football coach - 2 mil package. How about caps on govt workers? Oh wait... NOT FOOTBALL!!!

 

[Nosmo King]

Are there caps on the Fannie/Freddie people? How much do they make or have the potential of making?

BTW mud - the highest paid state employee in NJ is the Rutgers Football coach - 2 mil package. How about caps on govt workers? Oh wait... NOT FOOTBALL!!!

The same logic that says a CEO is worth multiple millions due to her ability to make profit is to be used when looking at a major college football coaches salary.

Oh. I'm sorry. I pointed out logic to you. My bad!

 

[Care4all]

the cap on salary is a good incentive for the ceo to do good and make his company well enough to pay the gvt back!

 

[Care4all]

yes, there are caps on fannie and freddie chanel!