I knew it was just a matter of time before Barack Obama pontificated his radical, unconstitutional, leftist agenda. Seriously, how arrogant is he to think that he can tell the private sector how much it can pay employees? The socialist edict was broadcast without any evidence of public outrage.
For Obama to state that companies cannot pay their CEOs more than $500,000 a year is brazen to say the least, and above all unconstitutional. Trust me, CEOs will get their money in some way, shape or form. I am as angry as most Americans about CEOs running companies into the ground inside of 12 months, only to get a seven-figure separation package. Why shareholders enter into such agreements escapes reason. However, it is their choice, and we are free to not do business with such companies. Obama should use some of his smarts that he allegedly received at Columbia and Harvard to bring people up rather than dictating who can make how much, which eventually hurts the poor.
Here's a story: Recently, Wall Street cut 88 percent of bonuses paid to workers, resulting in $1 billion less tax revenue for New York state, and $265 million for New York City. If the country does not rise in unison and call Obama's power-hungry declaration an act of resentment and jealousy, Georgia may feel a pinch too - perhaps not as much as New York, but we will feel it nonetheless. Less tax revenue, at the end of the day, leads to cuts in tax-funded programs that traditionally benefit the poor and disabled.
Keep the change, Barack. And for you readers who know better, it took Carter to get Reagan.