How greedy are the richest CEO's in America?
A proposed house bill would limit executives' tax-deferred pay packages at $1 million a year. What did the business community think of that?
"Still, even Bush's words on pay were met with complete silence from the business crowd he addressed." (article linked in title, USATODAY 1/31/07)
Here's another quote for you...
"President Bush can deliver all the economic pep talks he wants, but the fact remains that his failed leadership has led to the worst job recovery on record, stagnating household incomes, a rise in poverty and record deficits," said Stacie Paxton, spokeswoman for the Democratic National Committee.
The President says it's not the governments role to limit CEO's wages, I agree. Yet he fails to take responsibility for an ever growing NAFTA strength that promotes offshore banking, job-exporting, and a pay scheme that is remeniscent of the three-musketeers (in referece to dollars) "one for all (the workers), and all for one (CEO)."
Bush's solution comes down to increased transparency for stockholders. If I can find it I'll post todays JSonline article about the new democrats ignoring big businesses greedy demands. Maybe they'll win Kansas over after all.
This is a class blog for the students of POLSCI 426: Congressional Politics at the University of Wisconsin–Milwaukee.
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1 comment:
What job is it for the federal government to interfere in what CEO's are paid? I know they make an obscene amout of money, but as Calvin Cooledge once said, "The business of business is business." I say the government should stay out of it, or raise the income tax on incomes over however much the powers that be deem necessary.
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