Currently, the Obama Administration is seeking to create a law which would cap executive pay at $500,000 per year. That sounds good and dandy, especially to us who can only expect a meaningless paycheck now with the dwindling economy, but here’s the rub.
It’s a cap. Is that really moral, Obama? Should we tell companies, “No. You don’t really work as hard as you think andyou definitely do not deserve this amount of money, that you’ve earned.”
http://www.truthdig.com/report/print/20090202_who_knew_bankers_were_this_stupid/
TruDig.com reporter Eugene Robinson disputes, “the average CEO makes 344 times as much as the average worker, as estimated last August by the Institute for Policy Studies and the nonprofit group United for a Fair Economy.”
Does no one else believe that this “cap” is just a cutesy word for “communism.” I know, this is coming from a pretty liberal student, whose financial aid this semester is what those CEOs eat for breakfast. What do I know about money problems? But seriously, is this the kind of lesson we want to teach our impressionable youth? “Oh, sweetheart. You can be whatever you want to be! …Just don’t make too much money or the government will take it away from you.”
Yes, we all think those big industry bimbos are scoundrels who make profit from torturing their laborers, but that’s because we’re poor and bitter. Do you think the “average American” who may have not gone to college, who probably has a blue collar job deserves the pay of an executive? You’re going to say “yes” because you think it’s more moral, but if you’re like me, you’re in college for a reason, youngster. If you think otherwise, you’re a hypocrite.
But that’s not also to say that people who do not go to college are not successful. Many college grads work for these companies (whose leaders, such as Bill Gates, only finished high school). But they’re successful, hard driven, geniuses too. Now, be honest. Do you think the “average” American is Bill Gates?
Should CEOs and company executives be held accountable for their money, instead of given tax breaks? Yes. Should they be more humble, maybe do some real charity work instead of that BS fundraiser nonsense? Absolutely.
But should the government limit executive pay? No. Should America send that message that “we are a people of hardworking individuals who would rather lower the standards for executives, than raise the standards (and work ethic) of our middle and lower working class.” The Obama administration is not closing the gap between the rich and the poor, but rather, increasing hosility between them.
Another article:
http://caffertyfile.blogs.cnn.com/2009/02/04/should-government-limit-executive-pay/