Wednesday, February 4, 2009
Obama Sets $500,000 Cap on Executive Pay
...for companies receiving bailout money, that is. A brilliant scheme; it's a liberal program of income redistribution, a populist proposal that capitalizes on the anger against Wall Street, quite reasonable (the claims of a compensation exec in the article that "$500,000 is not a lot of money" are patently ridiculous; it's way above the top 1.5% of households in the United States, and is not sending anyone into poverty), and justifiable (don't want your pay limited? Don't take the bailout money). It also shows that Obama is quite willing to employ an expanded governmental role in the market. Quite a difference from his predecessor...
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While it should go without saying that even a legitimate President’s “ordered” $500,000 pay cap is an unenforceable intrusion into the private sector, as if that weren’t enough, Obama LACKS EVEN OSTENSIBLE AUTHORITY to issue the order UNTIL HE OVERCOMES “RES IPSA LOQUITUR” BY SUPPLYING HIS LONG FORM BIRTH CERTIFICATE AND PROVING HIS ELIGIBILITY TO BE PRESIDENT UNDER ARTICLE 2 OF THE US CONSTITUTION.
This Ted is not your Maximum Leader.
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