Saturday, March 21, 2009

Jump on the Bandwagon

Now that the US Congress is after AIG, other government parties are getting in on the act. I just read this morning that a bunch of other politicians are weighing in on restraining compensation of top executives of such outfits.
Now, on the surface this sounds fine, maybe even a great idea, but think about it a minute. If the government can regulate how much a a professional money manager (or money mis-manager) makes a year, what is coming next? Will a lawyer who rakes in a multi-million dollar fee for a major case be next? Is a doctor who uses highly developed skills to cure in line also? How about an auto worker, steel work, police officer, fire fighter, material handler...? We're headed right down the path toward regulated wages. That would be another part of socialism. It doesn't bother us when the proposed regulations are on them, but we'll realized the problem when it begins to effect us.
If the politicians wanted to reign themselves in first, maybe the industries would follow suit, but that's something we'll likely never see since those in power are not likely to ever pass meaningful salary restraints on themselves.

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