According to the article,
"The Obama administration plans to appoint a "Special Master for Compensation" to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter."No big deal, right?
After all, if they are using taxpayer money (which the taxpayer's did not authorize) there should be some sort of oversight, right?
But why stop with firms receiving TARP money?
How about government contractors that supply goods & services?
Of course when you limit the pay of HCE's (highly compensated employees) you also limit the income tax collections. Guess the brainiac's in Congress never thought about that.
Health care has a bulls eye right now and the folks in Washington are looking to cut health care costs. Since they already cover roughly 40% of the population via taxpayer funded health insurance plans like Medicare (bankrupt), Medicaid (bankrupt) and SCHIP, controlling the salaries of health care providers seems a logical step.
They already dictate what they are willing to pay for medical services. If a medical provider serves M/M/SCHIP patients they must be willing to accept the dictated reimbursement schedule and are prohibited from balance billing the patient for any difference in what they actually NEED to cover the cost of services vs. what M/M/S are willing to pay.
So why not take it a step further and limit how much docs and hospital administrators can earn overall?
Of course in doing so that means income tax collections will dwindle. I don't suppose any of those eggheads in Congress considered that.
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