Comrade Obama is setting maximum salary for employees of companies who are receiving bailout money. Salaries can no longer exceed $500,000. Seems responsible and fair doesn’t it? They are the ones who made the mess; they are the ones who should be punished right? And besides, $500,000 is a lot of money isn’t it? It’s way too much pay, right? Especially since CEO’s don’t do the actual work, right?
Companies compete for CEO’s, they compete for decision makers. Limiting CEO pay will be the end of these companies; all upper management (people who make more than $500,000 a year) will be recruited by other companies, leaving only people who are incapable of the strategic thinking necessary to successfully manage such large companies. These companies will become headless monsters run by politicians, and politicians are renowned for not being able to balance budgets.
But wait! We can’t let these people leave these companies! They need to fix what they did! They are the only ones who know how to manage these companies! We need to make it illegal for them to quit their jobs! Right? Wrong. The road to communism is paved with good intentions…..