With today's proposal from Obama to limit bankers compensation to $500,000 per year, a whole new area of government regulation has appeared. If the government puts money into an industry, it now will want to direct pay levels. A few suggestions:
1. The government licenses radio and TV stations, so it has a big foothold in the entertainment industry. How about a pay cap of $500,000 for movie stars and studio execs. Chris Matthews and friends at MSNBC should be limited to $500,000 per year. Anything more is "shameful". Why should Tom Hanks make millions when people are losing their jobs? Again - shame, shame, shame!!
2. The lobbyist industry is directly dependent on government much more so than the banking system. Let's start with Tom Daschle. His $1,000,000 annual payment from Hindery should be cut to $500,000. The full salary -- again it is shameful. So too those of the chattering classes. I would love to see David Gergen's response to limiting him to $500,000. Better yet, Bill Moyers!!
3. What about doctors who get paid through medicare. those making over $500,000 should be shamed and limited.
The list goes on, but I am sure you get the picture.
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