hypocritexposer
Well-known member
WASHINGTON -- Turns out there is a problem with limiting the pay of highly compensated bankers: the Wall Street high flyers pay taxes, too.
Imagine this: Capping top bank executives at $400,000 a year, as the Senate version of the $800-plus billion economic stimulus had called for, would have cost the government $11 billion in lost tax revenue by 2019. That's more than $1 billion a year, according to an estimate this week by the Congressional Budget Office.
Ouch.
Eager to lower the price of the stimulus package, congressional negotiators working on the final bill made the pay cap disappear.
http://www.foxnews.com/politics/2009/02/13/executive-pay-caps-disappear-stimulus/