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Executive pay caps, disappear?

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/
 

Tex

Well-known member
hypocritexposer said:
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/

That is about the dumbest logic I have heard of. Just don't give them any money, let the bank fail, look for the money they got while fooling everyone and creating the crisis, confiscate it and let them know what it feels like to most Americans.

These people are unbelievable and so are their spin miesters. Perhaps they will claim by not giving them millions of dollars, they will have to fire their house cleaner and that will take the unemployment figures up.
 
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