Pay czar to cut CEO's Salaries

why does the government lost funds have to be made up, they have plenty of slush funds, proxy agencies ect. to borrow all the money they want (even though their constitution forbids this)!
In plain simple words, NY States problems cut far deeper than the pay of the top exuctutives of a few companies!

Because the liberals and communists will not stand by and let that money slip through their greedy little fingers.

I could have came up with a better answer than that.

people have been moving out of NY in droves for a few years. the environment up there is inhospitable to the working class! the taxes are killers! This is just my opinion after living there for a few decades!

their tax base has been dwindling, their spending just keeps growing, and yes, it is against the constitution for them to borrow money, but well they found ways around that using such agencies as the NY Port Authority.

to suggest that them losing the taxes from a decrease in these few ceos will harm them in any significant amount as compared to how much they have harmed themselves through their own policies is just plain laughable!

I live in Virginia now, and well, this state has had little rainy day fund that they've been drawing from to help them get through this tough time. All NY had was a bunch of debt already stacked up that they had to pay interest on.

debt, dwindling tax base, high taxes, high unemployment, decreasing home values, out of control costs in the welfare, medicaid, medicare, ect....

The point is that since the CEO's will be paying less taxes, that shortfall will have to be made up from everyone else's taxes.

Simply put.... if they don't generate the tax revenue from other sources, then the only option left is state bankruptcy.

What part of that do you not comprehend?

the point is, they have lost more revenue, alot more, just by your average working class people relocating to escape the decades of disasterous policies that basically have coddled the poor, and the rich, while severely neglecting their needs.

ya know, they could always cut their spending spree to make up the lost revenue. they won't though...

they could always cut their spending spree to make up the lost revenue. they won't though...

That is the point... same thing in the Federal Government as well.

They won't cut spending, so they will either borrow to oblivion or raise taxes... or most likely do both.

The one's who remain will bear the brunt of either option.

and, this was destined to happen regardless of weather 50 or so executives get their extravagant bonuses and salaries.
which is what my point was.

Who are you to determine whether or not someone's bonuses are extravagant or not.

It is frankly non of your business and does not affect you in any way.

Which is what my points are all about.

gee ya know, I don't know what you go through to get your money, or what these guys go through to get their million dollar bonuses!
but I go through 8 hours of PAIN to get my measly little paycheck! Every penny I manage to stash, is a penny closer to taking care of the cause of that pain!
It's so nice to know that these guys having their lush little vacation retreats and oh so generous bonuses is so much more important to our government, and to you, that my money has to go to providing it for them!!

now, you answer your question...
why is it your business if they get them or not?

I never claimed it was... I think they probably deserve them for the jobs they do... especially when compared to the bonuses that the Fannie and Freddie execs got in the process of destroying our economy... and THAT does affect everyone.

How would you feel if someone complained about the money that you make, regardless of the amount?

That would be no one's business either.

Too complain about these bonuses is to engage in class warfare... which is a tool of the liberals in order to divide us.

I earn my money through employment with a little independant businessman....
no tax money is being fed into the company for it to run. it doesn't deal with the necessities of life, so there's no problem there if they decide to charge a little more for his products. heck, the guy is even practically debt free!! It IS no one's business how much he pays us....
and, the bosses don't even make a million dollars...

now, let's look at those business that are being affected by the gov't...

they helped fannie and freddie along with a whole slew of others to collaspe the world government. there are cities, counties, non-profit agencies, retirement funds, ect, ect, ect, that have lost their shirts through the scheme we are calling the "housing bubble"! I bet that the amount that has been swindled from the State of NY, it's cities, it's counties makes the amount the state will lose in tax money because these people will make less in their bonuses seem as insignificant as my little paycheck would look compared to their salaries and bonuses!
It is my business because bush, the treasury, the fed, they all came to us citizens, begging for money, telling us how we're facing the greatest depression in history if we didn't come up with a few billion to bail them out! Millions of people have lost their jobs because of their scam! Hundreds of thousands of those millions have had their unemployment expire on them! Cities far away in other countries have gone bankrupt because of their scam! Where are their bailout? Na, they don't get a bail out, just the ever increasing risk that hyperinflation is gonna be kicking in or the interest rates are gonna skyrocket on them. And, them, their children, and their children's children will end up paying for this life support that we have attached to these "too big to fail" companies!
That is what makes this my business! Ya know, little ole me, going to work every day, inflicting pain and injury on myself, fretting over how the heck I am gonna pay for the operation I need so I can continue working, husband out of work, gee, guess what....
we've had to incorporate all this crap into our budget, cut the spending way down!!!
but, or course, it's way too much to ask that these companies that have brought our nation, the world, my household to it's knees to do the same!!!

just don't count on my family paying for this outrageous heist of the citizen's money!! because if at all possible, we'll be living outside of your country!

The government caused the economic mess... not these businesses... many of whom were FORCED to take the bailout money.

Just exactly what World Government are you referring to?

I am a citizen of the US... not of the world.

It is none of your business what CEO's make... nor does the government have the authority to dictate salaries or bonuses of any business.

As for you leaving... the sooner the better... don't let the door hit you on the way out.

Destiny, don't you get sick of being WRONG? Please show me FACTS that prove that most of the businesses that took bailout money was "forced to"? No one FORCED AIG, BofA, and Citi to take bail out money, they all needed the money to survive. Please also explain to me where congress FORCED these banks to use CDS's, or insure mortgages with AIG so they can take on more debt, which caused them to lose so much money. I will be waiting Tiny.

it was supposed to be world economy.
you are wrong about the innocence of these companies.
and, well, it's the taxpayer's money that is keeping these companies afloat, I am a taxpayer, a citizen of this country.
if I told you there was a women I know, who was using the money in her welfare check to treat her boyfriend on a nice weekend vacation to some luxurious mountaintop cabin in Tennesee...would you have something to say about that one???

it's the same in both cases as far as far as I am concerned! only the women is only wasting a small amount of taxpayer money, these companies are wasting lots more!
if you want to gripe about the legality of the bailouts to begin with, hey, I am with you there...
if you want to gripe about SOME of these companies being forced to take those bailouts, fine, with you there.
if you want to gripe about some of these companies not being allowed to repay the money, I am with you there!!!

if you want to gripe about the employees of these companies having the right to recieve millions of taxpayer money in salaries and bonuses.....I am sorry, I am not with you on that one!!! that money is gonna come from some people who are struggling to pay their rent, put food on the table, sick people struggling to come up with funds for medical care, ect......I think their needs are more important than thousand dollar shower curtains and the like!

Louseydebater.... you are a moron... the FACTS were widely reported in the news... are are still being reported from time to time... and no, I am NOT going to do your homework for you. The banks were forced to take the bailout money even if they did not want it... where the hell have you been that you don't know this FACT?

Kariana... The government has NO Constitutional authority whatsoever to interfere in the affairs of the private sector. The fact that you think they do shows you ignorance of our laws and your socialist tendencies.

Both of you are idiots and need to get over yourselves.

Then...
there should never have been a bailout!!!
but, there was, wasn't there???
just like alot of other things that the government does SHOULDN'T BE DONE!!
so, well, let's just agree, they've thrown out the constitution!!!
shall we also justify throwing out lady justice with it??

it is unjust to take money from the citizens who are struggling to get buy, so some rich people can obtain more riches!!!
that's my opinion, call me an idiot it you want.
don't really care!
that injustice will come kick you in the arse sooner or later also!

Of course there never should have been a bailout... ever!

Yes they have thrown out the Constitution... What do you think the TEA Parties and the march on DC, and the protests at the Townhall Meetings were all about?

90-some% of the people were against the bailouts... TARP 1 had been defeated, and then Bush and Reid brought TARP 2 out of the SENATE which was illegal, because the Senate does not do appropriations.

The government has a very limited role as defined by the Constitution, and bailouts, healthcare, and all of the other social engineering schemes are not part of that role.

Neither is interfering with the private sector and business.

That is why people are pissed at both the democrats and the republicans... because they no longer represent the people.


That is why Congress has such a low approval rating, and the is why I get so pissed when people like you want to defend the idea of government dictating business decisions.

It is not the governments job or business to interfere in business or individual lives and decisions.

Just what part of that do you not understand?

ummmmm......
I think it's the part where you find it more just for them to take money from struggling families and hand it to those companies with no strings attached, let them go spend millions on nice luxury getaways, outrageous bonuses, ect,
as opposed to attaching some strings to that money!

after all, there's strings attached to the funds welfare is throwing around, I mean, I can't use food stamps to go out and buy a big screen tv....
and there's strings attached to college aid, can't use that to buy that big screen either.
and there's strings attached to much of the small business aid that's available out there. in ny, I can get empire state aide, only if I agree to have my business in certain areas of the state. ya know, things like that....
there is always strings attached when one is taking money from another, the oldest example of this would be the "traditional family"! where dad earns the money and momma depends on dad for here necessities, but like the Koran says, because you are dependant on him, obey him!!!

let's put this another way, these businesses had all the freedom in the world, just like that child predator that got pick up last week. but well they abused that freedom, collasped the world's economy by doing so....just like that child predator ruined some kid's life....
so, are you griping because society moved in and took that child predator off the street? found them a nice cell to live in for awhile, took away their freedom???? is that socialism to you???

well these financial companies destroyed the world's economy!!

"Let's hope we are all wealthy and retired by the time this house of cards falters."
from an internal email from an S&P employee.


but don't worry, wall street's next big money maker???

you're life!!
oh yes, let's start buying up people's life insurance, slicing and dicing, making a nice salad out of them, and betting on when these people will die!! hey maybe we can get the help of those nice mafia hit men, or better yet, the gov't is taking over the healthcare system, hey this should be a breeze!! faced with economic calamity, the gov't will just give the word, and all the doctors can just well, mess up on the medication that is given, and wall street will never have another worry again!!! until...the living people run out!!!

the ordinary common everyday criminals are taken off the street.....
while those white collar criminals are allowed to retain their freedom and continue on to develope bigger and better scams....
heck, they are even given taxpayer money to help them along.

I can see that you are confused.

It was government interference in business that caused the problems in the first place.... the same financial institutions are big donors to Comrade 0bama and the democrats... in fact they are quite cozy bed partners.

This mess was created by the FED, the government overegulation of business, and the demand by the liberals, ACORN, and Comrade 0bama that unqualified, ineligible, and uncreditworthy people be given mortgages despite the known risk and certainty that a great majority of those mortgages would be in default.

That created the Housing Bubble and the collapse of Fannie Mae and Freddie Mac... which escalated into what we now see. By the way... the folks at Fannie Mae got huge bonuses... bonuses that far exceeded their actual salaries... and you are bytching about Wall Street?

Franklin Raines was a big 0bama adviser in the early days... and 0bama sued the banks on behalf of ACORN to force those mortgages... so 0bama inherited what he created.

Here is an article to help your ignorance... if you have the capability to understand plain English ....

http://www.mercatus.org/u...

and here's a video, that gives you the other half of the story!!!

http://www.cnbc.com/id/28892719

I watched much of the video. What I didn't see was the Community reinvestment act. I did not see the lawsuit against CITI Bank by ACORN in which CITI Bank was threatened with the Alinsky style protest. Do what we want or we will have 1000 people open accounts in the morning and then close them in the afternoon and then repeat it the next day or PC Blackmail.

As I watched the video I noticed that everyone was a hard working family that was cheated by the bank. What about the people who bought because they thought they could make a quick buck. What about the Government changing the rules on the banks? Requiring them to have a higher reserve to loan ratio, which forced the banks to foreclose to reduce their loans. What about the government spending that took money that could have been available to private business to keep and create jobs. The government spent the money and got no return on it.

ya, well, I didn't see much about a certain president wanting two wars, and tax cuts for his buddies. About that president cutting the funding but not cutting the mandates, that put a bunch of states in a bind. Didn't see much about how this caused the states to raise the taxes to a point where tax rebellion was a possibility. ya, it did say a little about that president, greenspan and the crew coming out and encouraging these arms as good financial products, fueling a housing bubble, that would raise the values of the homes, that would give the states more revenue so that they could come back the next year with great surpluses either.
rebellion averted, at least for a time.....
that time is up, back to the rebellion!!!

blame the banks, blame the gov't.....but one thing is for sure, many of those who are paying for it had absolutely nothing to do with it!! maybe the banks and real estate industry should take part of the cost of this, the gov't the other part... they can pay use back but cutting their budgets to raise the revenues!!
but, one thing that I am finding completely unacceptable is the idea that my grandchildren will be paying for it. one thing I know for sure, not one hair on their head can be blamed for this, and in no way have they benefited from it....since well, they aren't even born yet!
there is no way in hades that money they haven't even earned yet should be used to pay million dollar salaries and bonuses to employess of companies who's management (and them) ran not only their businesses into the ground, but also the world's economy!

Koriana... You make no sense... you just rant with no logical thought behind your insane claims... you seem to be arguing from many different directions with your statements.

Try picking ONE.

Here are some facts for you....

http://www.wnd.com/index.... http://www.wnd.com/index.... http://www.aim.org/aim-co... http://www.washingtonpost... http://www.onenewsnow.com... http://townhall.com/colum... http://www.bloomberg.com/... http://online.wsj.com/art... http://www.wnd.com/index.... claim about Bush and 2 wars is bogus.

We were already involved with Iraq long before Bush was elected.

Check your history before you make silly claims.

Lets see. Tax cuts for the "wealthy" and a 4% unemployment.
Cut the bonus for CEO's and we have 9+% unemployment. I guess that the more we take from the rich equals higher unemployment.

umm...let's see, cost of bush's war on terrorism...
let's cut low, and say it was at least $600 billion...
cost of the gulf war......the article I found that gave a price tag was much closer to $700 billion...
cost of the gulf war....
article says....$60 billion...
cost of just that nice new embassy in iraq....$592 million!!!

ya, we've been involved with Iraq for a long time, heck, we're involve with haiti too....and japan, and mexico, and......

but, usually you can't have two wars and cut taxes without big, big deficits!! bush tried to avoid those big deficits by shortchanging the states when it came to all the programs that federally mandated, particularly medicaid/medicare, which healthcare costs increase something like 400% during the 8 years that bush was in office by what I understand. this forced the states and counties to up their taxes a little too extremely....which caused unhappy taxpayers to have one heck of a fit.
so, along comes bush, greenspan and the rest, with the solution!! ya, hyper inflate that housing bubble, the property values rise, the property is worth more, so the counties can make up their deficit through property taxes, ya! they come on tv, with their great talk about the "ownership society" saying just how great these new arms are.... yes, we should all just go out and buy a house, using these great new financial tools!!
well, the people bit, they bought homes, they took out the equity in their homes, and they spent!! on faulty overpriced home values that were intentional over inflated! of course the economy boomed!! on money that really wasn't real! ya, there were jobs, catering to this boom!!!
but, like that video said, anyone with a pulse could get a loan. they didn't care if the people could pay it back, since well, they were gonna dump the loan onto the market as soon as possible anyways.
well, the people couldn't pay!!! but it bought us a little time. the housing bubble burst, and now we are worse than we were before it all began.
two very expensive wars we can't fund, an over priced healthcare system, all of which like you said, the money's got to come from somewhere.....so, we are arguing over just who should be paying the taxes!! and all the jobs that bush "created" through that scheme are going, along with millions of others!
well, since no one wants to be forking out all this money obviously, maybe they shouldn't be spending it to begin with...and those ceo's, upper management in those finacial institutions are being paid at the moment with that money!!

oh, and I bet ya ten to one, you can add citi on the list of businesses that don't need to pay them back, they've gone and filed bankruptcy too!!

Bob... Yep, the higher the taxes go, the more the people tend to want to depend on the government handouts.

The liberals depend on that dependency for their voting base... most people are too stupid to realize that there is no such thing as a free lunch, and that all these social engineering and experimentation programs are ultimate destructive to the economy, and every American regardless of station.

Korianna... You need to drop the whole it was Bush's fault routine... We were in Iraq long before Bush was elected, and Iraq ... and Afghanistan... was approved by Congress... including the democrats... who later opposed it when it became politically expedient.

Now your buddy Comrade 0bama is setting us up for an even greater fall...

http://www.onenewsnow.com...

http://www.politico.com/n... http://www.aim.org/don-ir... http://www.wnd.com/index.... http://www.wnd.com/index.... http://www.wnd.com/index.... close attention to that last one, because he played a large roll in our economic problems.

He makes his living betting and working against economies, and is an avowed enemy of the US and Capitalism, although he is a combination of capitalist and communist.

While Bush made mistakes, he also did a lot of good, and was not out to destroy America the way that your buddy 0bama is.

Destiny.....
you need to quite blaming the current administration, who wasn't even in the white house for the house of cards that fell, and weren't the first ones to force the banks to take the bailouts! Heck, I'm not even sure any were forced to while obama was in office. But I have found an article dating something like Sept or Oct. of last year...and well, IT WAS THE BUSH ADMINISTRATION DOING THE FORCING!

As far as more taxes leading people to want more handouts, well, gee...
the cost of living is going up, most people's paychecks (unless you are one of these upper managements enjoying you hundred thousand bonuses) have stagnated, gone done or just flew the coup to china or india.......
I would be more inclined to think that this is leading more people to the welfare line!

Produce your article or be quiet.

The present administration is destroying our country with his anti-American ideas... and the links that I provided prove that.

He is doing this intentionally.

I suggest that you grow a brain.

The New York information was based on what happened after the comments on the bonuses paid to management and how could they get that amount of pay when everyone was losing their job. When a person did not get their bonus they did not buy a new car and the car salesman did not get his commission and did not pay taxes on it.

The more important fact is what are the bonuses for. Many of the people at AIG who received bonuses after taking a government bailout received the bonuses in place of salary. AIG had billions in bad investments and hired people to sell off the bad investments. This person gets a percent of every bad investment he sells. The more he can receive for the bad investment the more money he makes and the less money the AIG loses. The type of person who takes on a job like this is driven by the idea of making money. Now if you limit what he can make he will simply work until he makes the $500,000 and then stop working and do something he enjoys. Why should he work more if he is not going to make any more money.

I like the idea of paying equal for hauling garbage... And hard working truck drivers would get paid?

Competitive rates can be a killer and many companies go under when the money isn't there, like being forced to pay for something that you can't afford. First the money has to flow, no flow= no go!

The CEO's have clogged the arteries just like road construction slows down the flow of traffic we have clogged arteries and as a nation we are all suffering... While somethings are working there is a culture that wants to undercut the nation for political gain.

The problem is that we are on life support and clogging our system or contracting another infection will certainly be the death nail to what was once living.

There are only two ways to recover and both are revolutionary...

One is to turn things upside down and make a flat economy...

The other is to remove all economic factors period...

Both are socialist, but we can still survive and be free or actually be more free...

I know a few CEO who make 6 or 7 figure incomes and receive big bonuses. I would not like their work schedule. A friend who is the head of Operations for a company has employees who are in charge of monitoring the emissions from the plant. At 2 AM when the police get a call about the smell guess who they call? Not the worker but the head of operations. He has an excellent safety record at his plant. The plant 400 miles away has had a rash of accidents. He was called to the home office (800 miles away) for a major meeting and is told that for the next 6 weeks he will be reviewing and implementing a new safety procedures for the poor performing plant. He was successful in improving safety and reducing accidents but he did not get to see his daughters last year in Volleyball or two concerts she was in her senior year. He lived out of a motel room and worked 12 to 16 hours a day (the plant ran two shifts and he had to check on both shifts). You are telling me that the guy who works the 8 hours shift and goes home should get the same pay as my friend?

Do you know why these Executives receive such big bonuses? Because many years ago (back in the 1970's) two presidents (Nixon and Carter) tried to control prices and wages. Two things we got as a result of their attempt to control the economy:
1. New Car Rebates - this is because if the car companies reduced the price to sell the car then they could not raise it later.
2. Bonuses in Lu of salary. A person working on commission or piece work could not get an increase in weekly wages but could get a bonus at the end of the year.

Several years ago there was an idea going around to pay for the work based on the value to society. A nurse would be paid more than a Bank Officer because the nurse saved lives. the garbage person would be paid the same as a stock broker. The idea was that some government committee would decide what was a fair wage for each job. Sounds like we are heading for this.

You heard about the big bonuses that were not paid, what you did not hear was that the no bonus also was felt by all the workers. In those companies and many others who did not want the bad press the no bonus meant no bonus for anyone. Even companies that made money and were profitable did not pay bonus. So the secretary and the janitor who worked hard every day did not get the extra money for their families. This meant that the workers in the stores where they would spend the money did not make the sale and lost money or were cut hours. It is called the trickle down effect.

gee, don't know, I've gotten a couple bonuses.....not million dollar bonuses, not even thousand dollar bonuses....but we're still not going out and buying much. and well, might as well forget about us buying a new car, don't matter how good the next bribe the gov't comes up with it....since well, hubby was laid off so I doubt if we could get the loan!!!


the fact of the matter is, anyone making millions a year should have managed to find a way to have a nice rainy day fund to help them get through this traumatic time!!
unlike the millions of your average working people who've been laid off of late.

and one thing is pretty sure, unemployed, and still overtaxed people aren't gonna be buying much of anything!

According to the article I read last year the CEO get a 1.5 million dollar bonus. The Federal government takes 38% or $570,000, the state gets 10% or $150,000. He now has $780,000 left of his bonus. Lets assume he spends it all and half of the cost of the goods and services he purchased goes for wages. The government would get (assuming they are in a lower tax bracket) about 24% or $93,600. As a result of that CEO not getting his bonus the state and federal government are out $813,600 or over half of the bonus goes in taxes either directly or indirectly. This example is only taking it down one layer It is often said that if you shop locally the money circulates 6 times. Think of all the people who had less because the CEO's did not get their bonus. What earned the President a few point bump in the polls cost the government at least 54% of the bonuses not paid.

It was reported by the NYC comptrolrller that the city would lose over 1 billion in tax revenue from the no bonus policy. Mayor Bloomburg stated that 10,000 people in NYC paid over 80% of the taxes for the city and each one that moved out would be a mojor blow to the city.

Remeber it was the Sect of the Tresure that Cheated the taxpayers out of several thousand in taxes.

"It was reported by the NYC comptrolrller that the city would lose over 1 billion in tax revenue from the no bonus policy."

Let me ask you something: If this money came from illegal activity then the state wouldn't get the money anyway, correct? So the state of New York made out when times were good, and they should suffer like the rest of us when they are bad.

"Mayor Bloomburg stated that 10,000 people in NYC paid over 80% of the taxes for the city and each one that moved out would be a mojor blow to the city."

Then HE should look at ways to keeping them, and if he has to give them tax incentives than he should. Those people are treated like royalty in New York, so maybe he should treat them like that when it comes to taxes. Bloomburg is one of 10,000, so I am sure that he knows how to keep them.

"Remeber it was the Sect of the Tresure that Cheated the taxpayers out of several thousand in taxes."

How many of 10,000 in New York cheated on their taxes? I'd put my money on all 10,000. Look at our former vice president who paid 9% in taxes when his net worth was in the millions. There are many people that cheat on their taxes, just look at the agreement that the US made with RBS, and all of the rich people flocking to tax lawyers before the government put them in jail.

First of all in this country we tax income and not wealth.

Second did the state of New York cut their budget or increase it? They increased it and every tax payer has to pay more.

In the end the CEO's lost some but every taxpayer lost too. I gues that is how you spread the wealth. Remember in NY the Governor gave every school age child money to spend on school supplies and he gave the people on welfare $300 when the gas prices jumped. You had to cut back but those on the government dole made money. Who do you think they will vote for the next election?