USA Today is furthering an ideal that’s more socialist than American – penalize the executives because they make more than everyone else.
“To say the pay gap between Wall Street’s top titans and average Americans is widening would be an understatement,” wrote Adam Shell in the August 30 USA Today.
The USA Today article was about a study by the Institute for Policy Studies (IPS) and United for a Fair Economy criticizing the compensation of private-equity and hedge-fund manager executives.
Their solution: Government involvement to prevent the “pay gap between CEOs and workers” from widening.
Sarah Anderson, an IPS director, “wants Congress to close the loophole allowing private investment managers to pay lower tax rates than ordinary Americans.”
“[W]hat we are talking about though in terms of proposals in Congress is allowing shareholders to vote every year on these pay packages and also fixing the loopholes that are in our tax policies that actually encourage excessive CEO pay,” said Anderson on CNBC’s August 29 “The Call.”
But the problem with Anderson’s solution is that it is undermining the free market, as David John of the Heritage Foundation pointed out. “[T]he question is what are you getting for [higher executive compensation] and that is what this report doesn’t show,” said John, also on CNBC’s August 29 “The Call.” “I’m willing to pay someone 10 million bucks if he’ll earn me a hundred million bucks.”
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Corporate Robber Baron Hogs
August 30, 2007 - 18:05 ET by Lame CherryInstead of the USSR Today complaining about the robber barons who make billions for corporations and earn millions, they should have said why doesn't Congress hire these hogs to run America with the context that all Americans have to earn 6 figure salaries and our prices have to be at 1950 levels.
Without inflation, that would make America an even better place to live with moral values included.
Why these comrades always complain about the successful instead of askin why Congress has with liberals screwed up America is typical socialism.
It is nobody's business what a corporation pays it's big shots as it is their money and their property.
Since Bush seems intent on Rockefeller free money printing gearing inflation and the devaluation of the dollar. So just let Americans not pay income tax for a decade and print money to fund things. Americans can certainly deal with doubling their wages as that is exactly what Americans pay in taxes.
*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS
Hey, that outrageous CEO
August 30, 2007 - 19:33 ET by jdhawkHey, that outrageous CEO compensation stuff has got to stop. And where better to stop it then reducing Douglas McDorkindale's pay, the CEO of Gannett Corporation, USA Today's parent company.
McDorkindale made 14.7 million dollars in 2004 according to Forbes magazine.
Funny Sarah Anderson of the Institute for Communist Studies didn't point this out.
Meanwhile, one of our posters said it best, "liberals read Karl Marx; conservatives understand Karl Marx."
Hey if half of our "poor"
August 30, 2007 - 20:35 ET by VT Con ManHey if half of our "poor" own their own home in the US, it can't be that bad can it? And, if a Football player can make mega millions, why can't a CEO managing a multi billion dollar company?
Oh, sorry, I was being logical...
Noticde that...but...
August 31, 2007 - 10:44 ET by TheDeuceA full 36% of them own dishwashers.
DISHWASHERS? The 'poor' have dishwashers.
Good Lord, this is sad.
Why is it that lefties believe that 'the people' noted in the 2nd are not the 'the people' mentioned elsewhere in the Bill of Rights?