Should our law makers follow in the steps of the Auto CEOs
February 17, 2009 1:49pm CST
Auto CEOs changed their pay to $1.00 a year in order to save money and help their companies survive. This is not just a one year thing for them. It is until the companies are solvent again. True they did it to get bail out money for their companies. But still they did it. They are super rich, they can afford it. Our country is in a crisis. Memebers of house and senate are super rich. This country is in an economy crisis. Should they change their pay to $1.00 til this mess is fixed? I think it would send the right message. Plus it would give them an incentive to fix it as fast as possible so they can get their regular paychecks again. Heck Obama is rich. He wants us to sacrifice. How about if he changes his pay to $1.00 until this is fixed. He would not be the first (he would be the second) to do this. How much money would that save us? Would it help? Would it encourage them to fix this mess? Senate Leadership Majority Leader - $193,400 Minority Leader - $193,400 House Leadership Speaker of the House - $223,500 Majority Leader - $193,400 Minority Leader - $193,400 The current salary (2009) for rank-and-file members of the House and Senate is $174,000 per year Presidential salary $400,000 ( it was only 200,000.00 but right before clinton left office, congress raised it or rather doubled it) Tell me what you think.
2 people like this
• United States
17 Feb 09
I think their salaries need to be slashed drastically. I remember when John McCain was discussing his plans for cabinet members he had said that many of them would work for $1.00 a year and that was before this bailout mess. I don't think every member of congress is rich, but the majority certainly are. At the very least I think their pay should be cut in half. Seriously, they have a job that requires no physical labor and it's probably the only job where there is zero penalty for not showing up. I've never had a job that allowed me to job hunt on the clock while completely ignoring my duties the way presidential candidates do.
• United States
17 Feb 09
All good point and we can take it a step farther, how much taxpayer money does lawmakers spend on "government" trips. Nancy Pelosi has her own private jet purchased by the taxpayer. Lawmakers get per diems and living stipends when they are in Washington D.C. They have personal office budgets. 174k for the average lawmaker is a lot of money, but if one could find all of these other taxpayer expenses I am sure the number would be much more high than 174k. Chalk this up in the category of don't touch my money. There are those that love to make it an issue of what others have, yet when it come to what they have that should not be discussed. Same goes for Congressional pay, we hear from those like Democrat Rep. from Mass. Barnie Frank loves to talk about limiting CEO pay, yet I have never once heard him say anything Congress votes itself a pay raise. Shareholder should be the one's deciding the pay of the companies' CEO, but so to should the voters of America should have the say rather or not law makers deserve a pay raise or not. Every four years but it up as a vote on the ballot on a Presidential election year. We are the shareholders of this country, and we should have final say on a pay raise.
• United States
18 Feb 09
It is just ridiculous to watch these gov't types lecturing the bankers and car execs about running a business. Meanwhile these guys have been wasting our money recklessly and running deficits worse than any company out there. But evidently the reps have a never ending flow of money from out tax dollars and debt sold to China and other foreign nations. How hypocritical. Take a look at a site called fortune535.com (100 senators + 435 congress people) I keep typing about a local rep from Florida named Adam Putnam. When first elected in 2000 his net worth was estimated at around $890k. Six years later it was $8.9M. How did he do it on a congressman's salary and a decline in the S&P 500 during that time? Who knows but if he can do that why hasn't he fixed the economy and deficit in a similar manner? Is he spending too much time on his personal net worth and not enough on issues facing regular Americans? Of course, they all do.