Executive wage limits may be extended to all US companies

[OCGuy]

Originally posted by: soccerballtux

Originally posted by: Ocguy31
It is all stuff that can be reversed when the GOP regains power. The pendulum will never stop swinging.

This is not true. The people that vote democrat are producing (babies) faster than the people that vote Republican. Further, when the baby boomers die, it won't even be close.

You are assuming people vote how their parents do?

 

[spidey07]

Originally posted by: marincounty
I think a better solution to this problem-of obscene pay with no accountability, is to return to a high tax rate for incomes over say $250k.

So 33% isn't enough for you thieves then is it? More than 25% HIGHER than one making under 77K.

Yeah, great idea...wonderful way to help the economy, kill those that can do something about it. 250K is NOT A LOT OF MONEY. Get that through your head. You will not be rich with that.

 

[Possessed Freak]

So, CEO's of multi billion dollar companies can't make as much as Pro Football players. Yep, makes perfect sense.

 

[Red Dawn]

Originally posted by: spidey07

Originally posted by: marincounty
I think a better solution to this problem-of obscene pay with no accountability, is to return to a high tax rate for incomes over say $250k.

So 33% isn't enough for you thieves then is it? More than 25% HIGHER than one making under 77K.

Yeah, great idea...wonderful way to help the economy, kill those that can do something about it. 250K is NOT A LOT OF MONEY. Get that through your head. You will not be rich with that.

Maybe not now but in 2 years it might be. But lets say that isn't the case, how about a Million a year?

 

[spidey07]

Originally posted by: Red Dawn
Maybe not now but in 2 years it might be. But lets say that isn't the case, how about a Million a year?

I'm not one to want to punish success. 33 and 35% are fine. Those making that kind of money are incented to invest instead of punished.

 

[StageLeft]

Hmm, like 911 gave the repuglifvcks an excuse to roll back some of the essentials of American justice now the recession can give the dimosh*ts an excuse to cause long-lasting damage to the economy. Lovely!

 

[marincounty]

Originally posted by: spidey07

Originally posted by: marincounty
I think a better solution to this problem-of obscene pay with no accountability, is to return to a high tax rate for incomes over say $250k.

So 33% isn't enough for you thieves then is it? More than 25% HIGHER than one making under 77K.

Yeah, great idea...wonderful way to help the economy, kill those that can do something about it. 250K is NOT A LOT OF MONEY. Get that through your head. You will not be rich with that.

I was suggesting this as an alternative to a pay cap. So you would prefer to have a pay cap?

I won't be rich with 250k, but I will be able to buy a house, a car, lots of toys, take a nice vacation, go to nice restaurants. However, $250K is A LOT OF MONEY to just about everyone.

There is no evidence that a tax increase on the wealthy would "kill those that can do something about it". The Clinton tax increase, opposed by all Republicans, did not hurt the economy at all, and led to a budget that was closer to balanced than we have seen in the past 28 years.

 

[spidey07]

Originally posted by: marincounty

I was suggesting this as an alternative to a pay cap. So you would prefer to have a pay cap?

I won't be rich with 250k, but I will be able to buy a house, a car, lots of toys, take a nice vacation, go to nice restaurants. However, $250K is A LOT OF MONEY to just about everyone.

There is no evidence that a tax increase on the wealthy would "kill those that can do something about it". The Clinton tax increase, opposed by all Republicans, did not hurt the economy at all, and led to a budget that was closer to balanced than we have seen in the past 28 years.

I prefer neither.

A cap goes against everything the country stand for - to build your own success without limits, enjoy the fruits of your labor, etc.

If I had to choose between (and I don't agree with it, BUT if I had to choose one or the other) a cap or increased tax on making more than 250k a year I can live with a few extra points tax wise.

I'm pretty sure we're gonna see both though. Obama promised both, frank wants both. The last thing you do in recession is discourage growth.

 

[frostedflakes]

When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

 

[LegendKiller]

Originally posted by: Harvey

Originally posted by: LegendKiller

Originally posted by: glenn1

I hope they do it. Many of those high paying executive jobs are located in blue states and cities. New York City is already reeling from the loss of thousands of high-paying jobs in the finance sector, this would hurt them even worse and that will provide no small amount of schadenfreude to see them bring the pain on themselves.

So you're a socialist?

Why not prevent the situation through correct fixes, such as larger amounts of investor rights and oversight?

Unless I missed something, if the TARP provisions were extended, the only companies it would affect would be those doing business with the Feds. If so, maybe they, meaning our representatives, don't appreciate subsidizing golden parachutes for companies who are supposed to be supporting our nation's defense, infrastructure etc.

There's a balance, somewhere, but we're already living in the nightmare result of allowing unrestrained greed.

Which is garbage, not all companies WANT to deal with the Fed. However, they are forced to because there is no other option. It isn't because they ran their business poorly, but because the capital markets aren't working properly.

For example, the CPFF facility. It's Fed sponsored and tons of companies are using it, mainly because the ABCP and Corporate CP markets aren't functioning properly.

 

[bozack]

Originally posted by: Red Dawn
Funny that's the same reaction I got when I first read one of your posts. I guess the Massholes of his district think he's doing a good job for them.

He represents snootn Newton....Barney Frank is a joke, he sounds like a mumbling slobbering moron because he is one...

Why he isn't being investigated for his involvement with Fannie and Freddy is beyond me.

 

[spidey07]

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

 

[frostedflakes]

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

Yes, accountability for companies who have accepted government money. I don't think he's ever suggested caps for all US corporations, though.

 

[LegendKiller]

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

That's interpretive, not factual.

 

[spidey07]

Originally posted by: frostedflakes

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

Yes, accountability for companies who have accepted government money. I don't think he's ever suggested caps for all US corporations, though.

I posted a thread probably in the summer about him wanting to limit executive compensation - this was before the first bailout. It's a running theme with BB.

He veiled it as "accountability" but make no doubt about it. That bastard wants to limit success.

 

[spidey07]

Originally posted by: LegendKiller

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

That's interpretive, not factual.

True, but is the interpretation not coming to fruition? Baby steps he's making, but his end goal is clear.

 

[LegendKiller]

Originally posted by: spidey07

Originally posted by: LegendKiller

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

That's interpretive, not factual.

True, but is the interpretation not coming to fruition? Baby steps he's making, but his end goal is clear.

Again, your "goal" is interpretive, not factual.

 

[cliftonite]

This is a McOwenesque title.

 

[feralkid]

Originally posted by: spidey07

Originally posted by: marincounty
I think a better solution to this problem-of obscene pay with no accountability, is to return to a high tax rate for incomes over say $250k.

So 33% isn't enough for you thieves then is it? More than 25% HIGHER than one making under 77K.

Yeah, great idea...wonderful way to help the economy, kill those that can do something about it. 250K is NOT A LOT OF MONEY. Get that through your head. You will not be rich with that.

Sorry, they can't and they don't.

Still chuggin' down that old trickle down Reaganomics Kool-aid, FTL.

 

[frostedflakes]

Originally posted by: spidey07

Originally posted by: frostedflakes

Originally posted by: spidey07

Originally posted by: frostedflakes
When did Obama promise executive pay caps for all US corporations? I'm sure he was only referring to those who receive government assistance.

Campaign speeches. He veiled it as "accountability", but the tone was very clear. He wanted to cap executive compensation.

Yes, accountability for companies who have accepted government money. I don't think he's ever suggested caps for all US corporations, though.

I posted a thread probably in the summer about him wanting to limit executive compensation - this was before the first bailout. It's a running theme with BB.

He veiled it as "accountability" but make no doubt about it. That bastard wants to limit success.

This thread? I don't see anything about him proposing a cap on exec pay.

 

[fskimospy]

Hey look, it's Specop off to the races with paranoia based upon poor understanding of an article! I saw nothing in it that talked about a $500,000 hard cap on executive compensation. I'm not sure if you people know this, but that cap affects shockingly few of the companies being bailed out anyway. Only those who get 'extraordinary governmental assistance' are subject to it, if you just get a standard bailout, even under TARP, you aren't.

As for the other banks getting cash, they can get around the $500,000 cap by disclosing to their shareholders how and why they wish to pay their executives more. More transparency? Sign me up! Limiting the tax deductions companies get for executive pay? Sounds great to me. If they want to pay their executives a ton of cash, I don't see why that should be government subsidized.

Simply put, you have no clue what provisions are in the bill, yet you assume some sort of cap on executive pay for all US corporations is coming, based on a highly generalized statement. This reminds me exactly of the other wonderful Specop "HURR THEY'RE COMING FOR OUR GUNS" and other threads.

Ie: stupid.

 

[Vic]

Don't like executive wage limits, don't take bailout money. It's that simple.

Otherwise, the OP is trolling FUD for the benefit of those execs whose companies did take bailout money. IOW, he's the socialist, he just doesn't know it. Spidey too.

 

[halik]

Barney Frank's wet dream... and that's all that it will be.

 

[palehorse]

wait, isn't Hollywood supposed to receive some of the money allocated in the new Stimulus package? I wonder how the directors, movie stars, studio execs, and other media moguls will react to a 500k cap!

Or, will they be considered an exception?!

This is getting completely out of hand... all of this government interference in the market is going to bring down the entire house of cards. All they needed to do was implement some smart oversight, establish accountability, and pass some stricter regulations governing a few important industries. Instead, they ended up kicking off an avalanche of viral "bailouts" and "stimulus" packages that may eventually bury us deeper than we ever could have imagined.

I truly hope that Obama puts a stop to this. I voted for him because I believed in his character and his ability to make an educated decision. Thus far, he's not done much to live up to those expectations. I sincerely hope and pray that Obama thinks Franks' ideas are as crazy as I think they are!

bah... :|

 

[halik]

Originally posted by: Skoorb
Hmm, like 911 gave the repuglifvcks an excuse to roll back some of the essentials of American justice now the recession can give the dimosh*ts an excuse to cause long-lasting damage to the economy. Lovely!

NAIL ON THE HEAD!