This was classic Cavuto and I’m thankful someone like him is watching out for us, the taxpayers and wage earners in this country. The whole “capping pay” is so anti-American it’s unreal. Plus, where does the government expect to earn their tax revenue from when they cap everyone’s pay? It’s fact that a small percentage of the top wage earners pay 95% of the taxes so where do we go when congress caps their salaries?
Anyways, enjoy this, I know I did:
Think it’s crazy? The incompetent Barney Frank already stated he thinks that salary caps could extend to all businesses, not just those receiving bailout funds:
Congress will consider legislation to extend some of the curbs on executive pay that now apply only to those banks receiving federal assistance, House Financial Services Committee Chairman Barney Frank said.
“There’s deeply rooted anger on the part of the average American,” the Massachusetts Democrat said at a Washington news conference today.
He said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.
That is insane. We’re living in the twilight zone when our so-called government wants to regulate pay at private companies. So much for our capitalist founding.
I’m waiting for someone to tell me this is a good thing and we should all rejoice.
Think it doesn’t apply to you? Only the “big shots” will get hosed? Remember, first they came for them, then they’ll come for you and you can bet money on it if you have any left when they’re done.