If you think the government has already gone too far lately, apparently, they disagree. This latest outrage show just how extreme the Dems are and why they need to be stopped.
It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.
But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees — not just top executives — of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies.
So they not only want to be able to take over any business at any time, fire its presidents on a whim, but decide what you will be paid. And this is from people who have no experience running a company or even working in the private sector.
This is by no means the end of what they’ll be proposing. This just shows how extreme they are and how willing they are to burn the constitution, which they were sworn to defend.
All those anti-Bush paranoid theories seems quaint compared to what these guys are really doing.