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I don't post much on the political front but this just scares the crap out of me.  I mean it's one thing to control the expenditure of public $$$ given to bail out a private company.  They agreed to take it, we should have a say in how it gets spent.  

But this is just completely round the bend.  Federally mandated pay limits for all companies?  Come on.  Your worth to a company should be based on a free market.  Not the federal government.

Socialism here we come.

-Dennis-

As long as we let them, that's where we're headed.

I hope I live long enough to see the second American Revolution.

Brew wrote on Feb 4^th, 2009 at 10:37pm:

I hope I live long enough to see the second American Revolution.

I'm afraid that this is exactly what it's going to take to stop this crazy train.

-Dennis-

I've gotten to the point where it's mostly amusement for me. America has rolled over. Our founding fathers went to war against the king over a miniscule increase in taxes.

I now focus on the things that mean the most to me, pass those values on to the next generation, practice my marksmanship, and keep my powder dry.

Quote:

Treasury Secretary Timothy Geithner said last month that he might try to extend to all U.S. companies a restriction that prohibits bailout banks from taking a tax deduction of more than $500,000 in pay for each executive.

Oh noes!!  Companies may lose tax deductions (government subsidies) for paying their CEOs anything above half a million ... if we don't defend such excesses,  capitalism as we know it is doomed!!   What is next?  Limiting the number of yachts each person can write off as a legitimate entertaining expense? Will Uncle Sam no longer pay 1/3 of the cost of $1400 per plate meals used to 'develop business'??  No more getting a write off for spending 1.2 million to redecorate an office, complete with a $68,000 credenza?  Woe upon us all.

What a great country. We're both entitled to our opinions.

Yes, and talk radio is entitled to (mis)translate a proposed change in tax deductions into a Soviet styled ban on capitalism.  Freedom of speech must allow for exaggeration, hyperbole, and hysteria.

It's all good kids... not to worry... the evil plan is unfolding according to schedule...

soon the USA will be officially dubbed Ultimate Sovereign Amusements.

The powers that be wanted to shift this country into a service oriented society... and we've worked very hard to get Casino's in every state. Let's just call it like it is... and turn the whole country into a giant resort for every other country to enjoy.

Then... we can all enjoy the same wage... live off the benevolence of the CEO's of Amusements Inc..

Naturally there will be  a huge admission fee and everyone will have to sign a release upon admittance.

hmmmm... just a thought.

with warm regards,
Tony

Tony - That sounds better than any solution proposed so far in my adult life.

Where do I sign?

Brew wrote on Feb 4^th, 2009 at 11:23pm:

What a great country. We're both entitled to our opinions.

Allow me to amend that.

I get the feeling that it won't be long before I won't be entitled to mine.

Socialism--plain and simple. That is where we're headed. Americans can't say they weren't aware.

WOW!!!  Now this is just downright frightening!  Federally mandated salary limits.  There's an incentive measure for ya!

I agree.  All those bankers and all those automaker employees should go fuck themself.  THe entire airline industry and aircraft manufacturers can go fuck themself too.

Those companies who can remain in business will remain.  Those companies who are bankrupt and need tax money to survive can close.  Granted, this will probably mean millions and millions of more unemployed people, but that's capitalism.

If US companies can't remain in business, we'll have to depend on other countries for our stuff.  That's capitalism.  

The god damn socialists want to change this country and change the principals that this country was built on.  

$87.50 fart tax per cow.  I make about $60-80 a cow.  I'm seriously done son.  Where is the food gonna come from?

             pissed on Potter

That's right.  That's what's made this Country excel for so many years.  Perform or fail.  Incentive to excel.

Now we're moving toward everyone slacking off and going on the Government handout programs.

At least other countries will have a large pool of US Executives to hire away.

Of course if you confine your reading to only sources of "news" that make you squirm in your pulled up bootstraps; you'll buy into idiocy dispensed by radio screechers and such thoughtful bloggers. Ooooh: Scary stuff.

It applies to TARP-like systems and newer federal bailout receivers that are incredibly tone deaf like Wells-Fargo yesterday. Somewhere along the line it has to stop. These guys are unpatriotic.

Nothing says you have to take federal money. A perfect example of capitlaism. You want no government interference? Fine. Your geniuses that got us here in the first place, are welcome to show the way.

Charlie

BMoneeTheMoneeMan wrote on Feb 5^th, 2009 at 10:51am:

I agree.  All those bankers and all those automaker employees should go fuck themself.  THe entire airline industry and aircraft manufacturers can go fuck themself too. Those companies who can remain in business will remain.  Those companies who are bankrupt and need tax money to survive can close.  Granted, this will probably mean millions and millions of more unemployed people, but that's capitalism. If US companies can't remain in business, we'll have to depend on other countries for our stuff.  That's capitalism.   The god damn socialists want to change this country and change the principals that this country was built on.

Wow.

Hey, welcome back again, B$.    :)

Charlie wrote on Feb 5^th, 2009 at 11:14am:

It applies to TARP-like systems and newer federal bailout receivers that are incredibly tone deaf like Wells-Fargo yesterday. Somewhere along the line it has to stop. These guys are unpatriotic. Nothing says you have to take federal money. A perfect example of capitlaism. You want no government interference? Fine. Your geniuses that got us here in the first place, are welcome to show the way. Charlie

Charlie, they are not just talking about those companies taking federal $$$.  They are looking to put limits on executive salary for all US companies.  

Today they are just asking for a tax change.  However I think it communicates the Socialist intent of the new administration very clearly.  We're talking about the redistribution of wealth through the federalization of US compensation structure.  That is the Holy Grail.

-Dennis-

Especially ironic to hear it from the guy who was in bed with Fannie, or in his case Freddie, and helped lead us to the sub-prime housing disaster!

Bob P wrote on Feb 5^th, 2009 at 1:17pm:

Especially ironic to hear it from the guy who was in bed with Fannie, or in his case Freddie, and helped lead us to the sub-prime housing disaster!

You say "ironic," I say "treasonous."

Let's call the whole thing off.

Writer's cramp is I guess old fashioned, but we may need to sticky tips for carpal tunnel to cover the next eight years.    ;)

Brew wrote on Feb 5^th, 2009 at 11:22am:

Wow.

What?

BMoneeTheMoneeMan wrote on Feb 5^th, 2009 at 3:13pm:

Brew wrote on Feb 5th, 2009 at 11:22am: Wow. What?

Nothin'.

Just wow. Sometimes it's really difficult to tell when you're being sarcastic. Like now.

Nice to see you back, though, my friend.

I'm not being sarcastic.  I do not think corporate America should be bailed out with the exception of catastrophic events such as 9/11.  I can agree with lending money to airlines in 2002 due to the event.  
I can not agree with giving money to corporations that only planned for perfect economic conditions.  The Big 3 cant turn a profit even though they sell millions of units.  Banks and commercial banks got blown up due to bad business decisions.  I can not agree with reaching in to my (empty) pocket to bail them out.  I am a capitalist, and therefore take the good times with the bad times.  I am not a fair weather capitalist, meaning I only like capitalism in good times and believe in government safety nets in bad times.  Government safety nets for corporations are not capitalism.

So, if the government is going to volunteer MY hard earned money, I think its only fair for ME to set limits on how they can spend the money.  

Plus, it seems bass-ackwards that I drive used cars and eat ground beef while I am paying the executives that failed at their jobs to eat caviar in limosines.  

We've been listing SOOOO heavily, that just being upright seems like crazy talk.  People have lost sight.

Good to see you too, Bro.

;)

Sorry B but Obama is a huge Socialist--the voters knew it but the media captured the soul of this country painting a picture that just wasn't true of him. You were from Eastchester so you know that Tim was from Larchmont, and he lived less than a mile from me. I saw him right after the holidays at Aroma Coffee in Larchmont. I asked him being that he was in the NY Fed --why he didn't see this forthcoming??!?!?! He just glanced my way and the owner of Aroma was pissed off at me so I dropped it. I simply do not understand why there wasn't more pressure on this guy before he was approved.The thought of Nancy Pelosi, Barney Frank, Chris Dodd running the economics of this country is freakin mind boggling!

I feel I only need to correct one thing you stated, and I'm sure it was an oversight due to your obvious enthusiasm:


Quote:

So, if the government is going to borrow money, which means volunteering MY children's and grandchildren's hard earned money...

The idea that everyone should be regulated is so absurd that it makes no sense. Everyone knows that won't fly. Nothing from Obama and his braintrust makes me believe than non-TARP etc. recipients were part of it other than as a suggestion. Obama may not be your cup of tea but he's not stupid. It wouldn't be a bad PR move but of course it gets countered with the ridiculous BS that smaller salaries ....for now.... won't attract the best and brightest......just like those best and brightest geniuses that got those bonuses. Idiocy that the Joe the plumbers of the world is supposed to swallow.

No. Bush was the big socialist. If the GOP allows the biggest socialist experiment since FDR, you know it has to be a great idea.

Obama isn't a socialist. He's the Messiah.

Charlie

Charlie,

Bush presided over the largest expansion of government in history, and he signed into legislation some of the most socialist policies we have ever seen.  Obama is simply continuing in Bush's footsteps.  So, again I find myself agreeing with you on some points.

Hope and change, baby.  Hope and Change.

God, I hope I have some change left when it's over.

I guess we should tune in Lou Dobbs!

He's a goof but he has it about right here.

We do all right and we can only hope :-/

Charlie

Nixon froze ALL wages and prices in 1971 - the goal was to break a wage-price spiral.  Thank you, Comrade Dick; thank you, communist Republicans!

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I agree, Obama is on the same level as Nixon.

I am enjoying watching liberals of all types embrace this spending plan. Make it your own. All I can do is laugh to keep from crying.

Borrow and spend our way out of the hole. Just like GWB, only bigger. Much bigger. He set the table, now it's time to eat.