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Mr. President: Capping Salaries Is A Big Mistake
By Mark Dement
While the recent dicoveries that the same companies we bailed out with our tax money recently to the tune of hundreds of billions of dollars and that billions of those dollars went out the door to huge commussions and bonuses, make us ache to find a way to punch them all in the head. Maybe shaking some sense into them might help. Or worse. We all know we can't take the law into our own hands. So we are frustrated and want revenge. We are angry and mad as hell. While the President wants to set executive salary caps on all companies who took Federal money, at first, a rise of applause rippled through the nation. Good. Right. Stick it to 'em. However, after we took off the mental shackles of revenge on the brain, the dust settles and the light goes on. And, so, here it is: We must not let this happen. If the brokers or executives at companies who received our tax money are capped at 500K, then what will prevent them from staging a massive walkout to other companies with no restrictions. And I really believe that is exactly what they are going to do. When they walk out then their entire company will cave in and the money we invested in their company will be gone for nought. More massive failures and the support personnel will end up in the unemployment lines. While other companies will absorb the heavy rollers there will not be much room for many support people. It will be kind of like an unofficial merger without paying any money for the people they absorb. They win huge and America loses. We must also consider our free enterprise system. Private enterprise has been, in most cases, completely seperate from the Federal government. When we lend money but then take an ownership position in a company in exchange for a loan, we have, in effect, partially nationalized that company. And, so...the ability to use the rule of law to put caps on private citizens salaries is an extension of the nationalization. So we must, for the sake of our democracy, encourage our lawmakers, that the Federal government not take any ownership of any company in America for any reason. The seperation between business and government must be separate to preserve the Republic. Something needs to be done but this cap on salaries is not a soluition. Our freedoms and rights as American citizens are at stake. We must defend the US Constitution. We must defend the Republic. E-mail President Obama to drop his plan. Thank you and God Bless America. God Bless Our President.
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Contributor's Note
To Send President Obama a message to drop his plan to cap wages: http://www.whitehouse.gov/contact/
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