And those tax cuts have been in effect for over a decade now. And we were promised that these cuts would cause the "job creators" to create job and that prosperity would abound. Didn't happen.
Now the chorus is singing that if we roll back those tax breaks, we'll lose jobs and prosperity.
Crazy. And many fools believe it.
Showing posts with label rich bastards without a clue. Show all posts
Showing posts with label rich bastards without a clue. Show all posts
Monday, July 25, 2011
Wednesday, February 4, 2009
Executive Pay Limited to $500K? Poor Babies.
President Barack Obama imposed tough new rules on Wednesday to rein in corporate pay, capping executive compensation at $500,000 a year for companies receiving taxpayer funds as he seeks to put the struggling U.S. economy onto a new foundation.
"In order to restore our financial system, we've got to restore trust. And in order to restore trust, we've got to make certain that taxpayer funds are not subsidizing excessive compensation packages on Wall Street," Obama said, calling such lavish compensation packages "the height of irresponsibility."
If these companies are going to take tax-payer money, then they should have to live by rules like these. Kudos to the president for trying to implement some controls around these "bailouts." Of course, some are whining about it. For example, as reported in the New York Times: “That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Oh, poor, poor babies. You ran an entire industry into the ground and now you have to squeak by on only half a million a year. Wah, wah, wah, you fucking whiners!
"In order to restore our financial system, we've got to restore trust. And in order to restore trust, we've got to make certain that taxpayer funds are not subsidizing excessive compensation packages on Wall Street," Obama said, calling such lavish compensation packages "the height of irresponsibility."
If these companies are going to take tax-payer money, then they should have to live by rules like these. Kudos to the president for trying to implement some controls around these "bailouts." Of course, some are whining about it. For example, as reported in the New York Times: “That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Oh, poor, poor babies. You ran an entire industry into the ground and now you have to squeak by on only half a million a year. Wah, wah, wah, you fucking whiners!
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