You are not going to believe this, but read it for yourself:
| Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said. “There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today. He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies. |
Yes, if you read all the way to the end of that clip, you saw the words: "to include all U.S. companies."
That's right. The Dems are now proposing Soviet-style control on how much money you could potentially make.
Think this is just some leftist idle chat? Read on:
| Mr. Frank seems to be in synch with the Obama administration in his plans for executive compensation. Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive. The Troubled Assets Relief Program legislation enacted in October seeks to give companies receiving aid under the $700 billion bailout a number of incentives to curb what it calls excessive executive pay. Mr. Geithner said he would consider “extending at least some of the TARP provisions and features of the $500,000 cap to U.S. companies generally.” |
Yes, our current tax-evading Secretary of the Treasury, Timothy Geithner, said that.
Any of you libs out there still want to whine about the Dems being referred to as "socialists?" Maybe you are right. This latest proposal puts them in league with the Marxists.
There is an old saying: "With the first link, the chain is forged."
This idiotic proposal the Dems are making is that first link.
Wake up, America!
You can access the complete article on-line here:
Barney Frank: TARP's Comp Curbs Could Be Extended To All Businesses
Neil Roland
Financial Week
February 3, 2009
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