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Slicing the Ham

We're hearing a lot of squealing from some of those who wallow around in the financial sector on behalf of the executives whose fat, make that bloated, compensation has been cut.

We're talking about the leaders at companies that needed to feed at the public trough to avoid going belly up. They received billions upon billions to help make sure they didn't finish crushing the economy. Now the government is weighing in and slashing their pay.

What is being herd on Wall Street, first of all, is the usual clamor over government interference, as if the bailouts were not. But just as widespread is the threat that the most talented will simply leave these corporations and lard over greener pastures elsewhere.

It's a strange argument, considering many of those whose salaries, stock packages and perks are being cut, are the very same ones who almost brought their companies to ruin. They got rich dragging the rest of us into a barren future. So many will ask "What's the big deal? Let 'em leave!"

For the moment, however, let's assume they can scamper away to enterprises out of the reach of the "Pay Czar" and the other awakening regulators...that they can continue to feed their greed, while so many others are struggling to feed their families.


Is there any other policy change that might bring more fairness, decency and simple common sense? Perhaps there is.

Has the time come to take a hard new look at the tax system and in the process, rethink the country's priorities?

For starters, should we debate whether there should be much much higher brackets for the super-rich, nearly confiscatory rates for income above some lofty threshold?

The concept is not new: The House of Representatives is considering a surcharge on the top earners to help finance health care reform and the shrieks of "Socialism" have already begun.

It's a much larger issue. Perhaps, the time has come to collectively ponder whether anyone really needs to make eight and nine figure annual pay? Is it appropriate when so many others are barely able to survive? Does an individual really need more than that to get the creative and productive juices flowing? How many mansions, boats and trophy spouses does any one person need?

What does such a gap between rich and poor really say about us as a nation? What it says is we can't hold together if we continue to be torn apart by the disgust of those struggling for a few scraps, while they watch a select few hogging everything else. We will rip apart in tatters. Because you reap what you sow.


This page contains a single entry from the blog posted on October 23, 2009 10:21 AM.

The previous post in this blog was The Washington Wrongman.

The next post in this blog is Obama and the Media: It's Not a Sing-Along.

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