Limiting Executive Salaries
By bobmnu
@bobmnu (8157)
United States
February 7, 2009 1:30am CST
There was an interesting discussion on the radio tonight about the limit on Executive Salaries. Some one brought up the fact that most Stadiums are built with tax payer dollars so are the Players going to be limited to $500,000 per year in pay? Our Elected and appointed government officials are receiving tax payer money so are they going to be limited in what they receive for speaking and books etc? Even Former presidents and Vice Presidents receive protection, paid for by taxpayer money so should they be limited to $500,000 per years also? Are the perks they receive taxed such as the cheaper restaurants, barber shop, health club and parking? Do they claim and pay taxes on their trips home, I have to pay my way to work and back home.
If the policy is good for Business Executives then it should be good for our leaders. Leadership sometimes calls for leadership by example.
2 people like this
2 responses
@thegreatdebater (7316)
• United States
7 Feb 09
I would agree with on this one Bob, But I am sure that George W. Bush, and D!ck Cheney would have the FBI give you a visit if they were still in office. Both men are going to make millions this next year on speacking engagements, and would see their personal wealth go down dramaticly. But, I agree that if you are personally taking public tax dollars then your personal income should be limited, or you should be able to pay the taxpayers back. I am sure that Bush and Cheney would be more than happy to pay the American people back for the cost of their protection, instead of losing millions of dollars. In all honesty, I don't know how republicans can feel sorry for these CEO's of these banking companies that make millions a year, Vikram Pandit only made $100 million last year, maybe we should all take up a collection to help him make it through the next three years?
1 person likes this
@anniepa (27955)
• United States
7 Feb 09
I think this is like comparing apples and oranges. I personally think some athletes are way overpaid but they're not being paid directly from out tax dollars. You're right, some stadiums are built in part with tax dollars but these things are usually brought to a vote and they do usually bring a good bit of money into the community where they're located. The athletes aren't paid directly from what's brought in to one particular stadium. Regarding government officials, none of them make over $500,00 per year from their government salary, do they? I'll agree with you on the perks and travel expenses, though.
I agree it was disgraceful for those Wall Street bankers to pay themselves a total of over $18 billion in bonuses after getting bailed out by the taxpayers. At least the professional athletes who are paid the big bucks have a talent and ability few others have. I'd say anyone can take a business and run it into the ground!
Annie
@bobmnu (8157)
• United States
9 Feb 09
When you look at the bail out you may find that the government money is only a small art of their overall budget. Some banks reported that they had no choice and were forced to take the bail out money. I even red one report where the government, through the regulatory process, forced one bank to pay more for a company that failed than it wanted to. If as reported the government is a shareholder in a company , by purchasing stock then there is a way to make those changes. You do it at the stockholders meeting. As I understand it the government purchased preferred stock (stock that has a higher value, no voting rights and is paid after bonds and before common stock in the case the company goes bankrupt) as opposed to common stock. This is a bad precedent to allow the government to make a deal with a private company and then after the fact to change the rules. How would you feel if you bought a car and after you started making payment on it the Car Company sent you a letter telling you that you could not drive the car more than 10,000 a year and you could not take the car out of the state until you paid the loan off?
Since President Obama issued the order limiting executive pay several companies have said they will not accept government money. One side effect of this action is the Democrat party may not get as much money from Wall Street in the next election. They gave much more to the Democrats than the Republicans.
