A Modest (Salary) Proposal

[Cheshire Figment]

I am not taking any political stand on this.

Any interpretation that I want to increase the minimum wage is reading something into my post; my only statements about minimum wages were some pure facts.

Federal minimum wage is $6.55/hour. I know it doesn't change the thought process at all, but I wanted to clear that up.

My error; I had not realized it went up less than two months ago. I am changing the amount in my original post.

And I am stating this should apply to any company which receives a governmental bailout. I am not stating it should apply to all companies.

 

[What the Heck]

So, let me understand this...

There are actually people here promoting raising minimum wage and imposing a maximum wage.

You know, there was a time where Communists in the US had to hide behind closed doors.

Now, they're out in full force and actively promoting their agenda in the good ol' US of A.

Thats not how I understood it. What I understood was the proposal ONLY for those companies that are bailed out. Those companies that are run into the ground would no longer get the golden parachutes for the current (or, in my case previous to at least a year) CEO. If the company is being bailed out, then part of the deal is that the government is the largest shareholder of that company and no government worker should make more than the president.

 

[dmslush]

Completely unrelated - state funds v. federal funds.

Okay, well you go and explain that to the state employees who have lost their jobs because federal funding to states has been drastically cut.

 

[DISUNC]

So, let me understand this...

There are actually people here promoting raising minimum wage and imposing a maximum wage.

You know, there was a time where Communists in the US had to hide behind closed doors.

Now, they're out in full force and actively promoting their agenda in the good ol' US of A.

Well now that WE own, many companies...WE get to say!!!!!

Any CEO who gets a Golden parachute for driving their company to ruin is nothing more than a THEIF in my book! ANY Board who gives CEOS golden parachutes are flippen MORONS!

 

[MrsPete]

I wholeheartedly agree that there shouldn't be any salary in this country higher than that of the President. Athletes and CEO's of these companies in dire straights would have to go back to living as normal people, but they do not deserve millions and millions for what they do.

The government has no business telling private companies what to do -- including how to pay their employees. BUT if those private businesses are begging for our tax dollars to bail them out of trouble, THEN I can see that such limits would be reasonable. The majority of businesses in America -- the ones that aren't trying to put their hands into Uncle Sam's pockets -- should be able to pay their people whatever they like.

 

[Golf4food]

If we are spending hundreds of billions of dollars to bail out these firms, we DO have a say in compensation packages.

We should, since we are all now part owners via our tax dollars bailing them out. In essense, we have all bought the company. As such, I say we should all get to vote on compensation packages for them...

 

[Papa Deuce]

I wholeheartedly agree that there shouldn't be any salary in this country higher than that of the President. Athletes and CEO's of these companies in dire straights would have to go back to living as normal people, but they do not deserve millions and millions for what they do.

....

How about Bill Gates and Steve Jobs? They created their companies... IMO, if they made TRILLIONS ( not in one year of course ) I would be fine with that.

Now, people who are just HIRED as CEO's shouldn't be making many millions a year, IMO.... unless they increase the value of their companies....

Can you tell that I am a capitalist?

 

[tinatark]

This thread, and so many like it, is downright scary. If you want your income limited by the government, go to a country where they do that! We bring students over from Poland, Russia, etc. - in those countries degreed professionals make a couple of hundred dollars a month. But they dang sure have "free" health care and university education. Luxuries like brand name jeans, tennis shoes are over double the prices here. Electronics are even more money. So, while the govt. is restricting the average Joe's income, SOMEONE is making a whole lot. They come here, make several years' salary over the summer, and go back to finish their education, hoping for another way out.

I understand the bailout as a division of the treasury department is buying the notes - it will cost a lot at the outset, but most, if not all, of the funds should be repaid eventually.

I can't wait to see what kind of garbage legislation is added to the bill by congress.

 

[What the Heck]

This thread, and so many like it, is downright scary. If you want your income limited by the government, go to a country where they do that! We bring students over from Poland, Russia, etc. - in those countries degreed professionals make a couple of hundred dollars a month. But they dang sure have "free" health care and university education. Luxuries like brand name jeans, tennis shoes are over double the prices here. Electronics are even more money. So, while the govt. is restricting the average Joe's income, SOMEONE is making a whole lot. They come here, make several years' salary over the summer, and go back to finish their education, hoping for another way out.

I understand the bailout as a division of the treasury department is buying the notes - it will cost a lot at the outset, but most, if not all, of the funds should be repaid eventually.

I can't wait to see what kind of garbage legislation is added to the bill by congress.

So you are ok with CEO's of the companies we are bailing out with our tax dollars walking away with 10's and hundreds of millions of dollars? They failed at their jobs.

Companies that are not being bailed out is fine. But when we bail them out and take over, AIG for instance is almost 80% owned by the government, making them government employees. They shouldn't be making more than the president.

 

[What the Heck]

How about Bill Gates and Steve Jobs? They created their companies... IMO, if they made TRILLIONS ( not in one year of course ) I would be fine with that.

Now, people who are just HIRED as CEO's shouldn't be making many millions a year, IMO.... unless they increase the value of their companies....

Can you tell that I am a capitalist?

I've got no problem with them making however much they want. They aren't asking to be bailed out.

 

[RNMOM]

I think this is a great idea. I have always felt the salaries are way out of line.

I often wonder how these people at the top can live with themselves knowing many people at the bottom of the ladder have to struggle so.

 

[rayelias]

I think this is a great idea. I have always felt the salaries are way out of line.

I often wonder how these people at the top can live with themselves knowing many people at the bottom of the ladder have to struggle so.

Would you be ok limiting and reducing your salary so others making less can earn more?

Or, do you just want OTHER people to limit their income?

If you're offered a raise, do you decline and request it's given to people making less than you, or do you happily accept it because you worked hard for it?

Sort of the same thought process that it's OK to overly, unfairly burden those making $250k a year with more taxes, but don't you think of raising taxes on me. It's ok to take from others, as long as you don't take from me.

 

[JimFitz]

We need to let free markets trade.

 

[golfgal]

So, let me understand this...

There are actually people here promoting raising minimum wage and imposing a maximum wage.

You know, there was a time where Communists in the US had to hide behind closed doors.

Now, they're out in full force and actively promoting their agenda in the good ol' US of A.

Well now that WE own, many companies...WE get to say!!!!!

Any CEO who gets a Golden parachute for driving their company to ruin is nothing more than a THEIF in my book! ANY Board who gives CEOS golden parachutes are flippen MORONS!

You don't own any of these companies. Buy stocks in these companies, pump up the price of those stocks and the government won't have to bail them out AND you get a vote on who they hire for the CEO.

How about Bill Gates and Steve Jobs? They created their companies... IMO, if they made TRILLIONS ( not in one year of course ) I would be fine with that.

Now, people who are just HIRED as CEO's shouldn't be making many millions a year, IMO.... unless they increase the value of their companies....

Can you tell that I am a capitalist?

No, not really. Sounds a little more socialist or communist to me.

The free market has a way of equalizing these things. CEO's get fired all the time for not turning a profit, not adhering to company guidelines, etc. The AIG mess is a totally different situation and it really is for the good of the country that the government is bailing them out. Merrill Lynch, different story though and no bail out from the government there. Fannie Mae/Freddie Mac have always operated under the guidance that the government would bail them out if it became necessary--like now.

The nice thing about our country is that people can go from zero to 60,000,000 in no time. There isn't another country in the world that has this kind of upward mobility. I look at some local success stories about companies going from nothing to being a fortune 500 company and see nothing wrong with those companies paying top dollar to secure top management because without most of them our economy would be in far worse shape.

 

[Cheshire Figment]

Again, my proposal was only those companies that the government is bailing out would have salary restrictions. This proposal does not apply to anyone else. And more than likely they should also look at getting rid of top management based on their performance.

 

[golfgal]

Again, my proposal was only those companies that the government is bailing out would have salary restrictions. This proposal does not apply to anyone else. And more than likely they should also look at getting rid of top management based on their performance.

AIG, Freddie Mac and Fannie Mae are NOT the one that passed the subprime lending bill and because of the nature of the industry Freddie Mac/Fannie Mae had no choice but to accept subprime candidates for home loans. Insurance companies have been long time investors in the real estate market and because of the subprime lending issue, housing market slump really couldn't have done anything different. AIG bailing out of their investments for a loss would have put them in an even worse state. Their current conditions were really beyond the control of their management and more a result of the current economy.

 

[What the Heck]

AIG, Freddie Mac and Fannie Mae are NOT the one that passed the subprime lending bill and because of the nature of the industry Freddie Mac/Fannie Mae had no choice but to accept subprime candidates for home loans. Insurance companies have been long time investors in the real estate market and because of the subprime lending issue, housing market slump really couldn't have done anything different. AIG bailing out of their investments for a loss would have put them in an even worse state. Their current conditions were really beyond the control of their management and more a result of the current economy.

But, can you please explain what a CEO could do that is worth $90,000,000 in one year? In a 2080 hour year, that is $43,269.23 per hour. Or, if he was a robot and worked 24 hours a day, 7 days a week, it would be $10,273.97 per hour. Or $1,730,769.23 per week. Or $7,500,000 per month.

Those numbers are obscene. As long as the company is making money, though, the numbers are none of my business. However, once the company needs to be bailed out with my tax money, I should have a say in them.

 

[crazyforgoofy]

We need to let free markets trade.

Sure we do. This free market just about brought the financial health of the entire world down. Now McCain has turned from a huge fan of deregulation into a guy who can't wait for the bailout. Bull feathers.

BTW, I vote a huge YES. If you want my tax money to bailout your company because of your failure to run it with sense and honor then I get to have a say in what you make.

 

[npmommie]

I think there are lots of people who would change their tune very quickly when they were coding and they had a choice between Missy Palin and Dr. Delilah conducting their code and managing their subsequent medical care. I guarantee that you have about a 1,000,000 fold greater chance of surviving if I or somebody with my training, experience and expertise do it.

I just have to ask........who is MISSY Palin?? or do you mean SARAH Palin? cuz referring to her as "missy" is a bit .......umm odd., maybe a bit disparaging

 

[Charade]

I think this is a great idea. I have always felt the salaries are way out of line.

I often wonder how these people at the top can live with themselves knowing many people at the bottom of the ladder have to struggle so.

Including registered nurses?