Salary Cap for Corporate Pigs

Amid public outrage and condemnation, the Obama Administration plans to set a maximum wage and limit the amount of bonuses for corporate and bank executives who work for the recently “bailed-out” companies.

This decision is an unexpected federal intervention, even though it makes complete sense. Why should U.S taxpayers reward corporate executives for years backward thinking, intentionally stunted innovation and bad (outright unethical) business practices? Corporate Pigs received over $18.4 billion US in bonuses in 2008 – confirming widespread expert opinion that current economic degeneration was partially engineered as a ‘cash grab’ by wealthy elites.

"This is America. We don’t disparage wealth," said Obama. "But what gets people upset and rightfully so is executives being awarded for failure. Especially when those rewards are subsidized by U.S. taxpayers, many of whom are having a tough time themselves. For top executives to award themselves these kinds of compensation packages in the midst of this economic crisis isn’t just bad taste; it’s bad strategy, and I will not tolerate it as president. We’re putting a stop to these kinds of massive severance packages we’ve all read about with disgust. We’re taking the air out of golden parachutes."

And this is how it should be: a leader making strong decisions for the benefit of the populace. Citizens should insist on strict oversight of these companies, and demand an end to the culture of entitlement and luxury that elites believe to be their right.

Info: Source