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Obama XXI: Kenyan Muslins are ruining this country!

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Rimbaud said:
Impractical? It's seems pretty simple to me. If you want to earn X, your employees must earn at least Y. The average pay of CEOs last year in S&P 500 companies was 11M, I think they could trickle that down a bit to their workers, and still live a pretty average lifestyle. I guess tying it to the average salary of the workers from the bottom to anyone without a C behind their name could be more practical.
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It's a moral issue. Our Captains of Industry will eventually render an accounting of their stewardship to the Supreme Judge.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

LynahFan said:
That's easy. Just wait 50 years until the cost of bunker fuel for container ships makes sailing vessels the international shipping mode of choice again...
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Yes, if transportation costs and time increased significantly, it would make it less viable to have all those jobs overseas, assuming the United States is even a viable entity by that point that people would want to ship things to.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

joecct said:
It's a moral issue. Our Captains of Industry will eventually render an accounting of their stewardship to the Supreme Judge.
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What's he supposed to do about it? Isn't it possible that we'll be rendering an accounting of our own failures? Maybe we should try something while we're on this side of the ground? :)

I do not enjoy the blessing of faith, so there's no common ground to be reached on that issue. That aside, is law *not* a moral judgment? Something to chew on.
 
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Re: Obama XXI: Kenyan Muslins are ruining this country!

Rimbaud said:
Impractical? It's seems pretty simple to me. If you want to earn X, your employees must earn at least Y. The average pay of CEOs last year in S&P 500 companies was 11M, I think they could trickle that down a bit to their workers, and still live a pretty average lifestyle. I guess tying it to the average salary of the workers from the bottom to anyone without a C behind their name could be more practical.
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Please. 11M *500 = 5.5B out of a 14T economy. Or out of a 1.5T deficit. Tax their pay at 100% and it's not even a rounding error. Or, take 100% of it and divide by the millions of employees that work for F500 companies, and it's still not even a drop in the bucket.

Going after CEO pay is not a serious solution for anything.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

LynahFan said:
Please. 11M *500 = 5.5B out of a 14T economy. Or out of a 1.5T deficit. Tax their pay at 100% and it's not even a rounding error. Or, take 100% of it and divide by the millions of employees that work for F500 companies, and it's still not even a drop in the bucket.

Going after CEO pay is not a serious solution for anything.
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He's not talking about taxing the income, he's talking about the CEO taking a little less in pay so his employees can earn more. Doesn't go very well with the "I got mine and the rest of y'all can go *uc* yourselves" mentality that rules the country these days.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

President Obama declared Mississippi a disaster today.

And the flooding is bad too.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

ScoobyDoo said:
The problem isn't the income disparity. The problem is the CEO is paying so much money in taxes he can't afford to hire anyone.
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And the impact of this would be dire for the illegal immigrants clamoring to be his housekeeper and gardener.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

Priceless said:
He's not talking about taxing the income, he's talking about the CEO taking a little less in pay so his employees can earn more. Doesn't go very well with the "I got mine and the rest of y'all can go *uc* yourselves" mentality that rules the country these days.
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I know - that's why I pointed out that dividing $5.5B among millions of employees wouldn't really change the employees' salaries very much. I'm not doing the research to find out exactly how many, but with many companies around the 100,000 employee level, there are easily many millions of people who earn their livings from F500 companies, especially if you include consultants, contractors, part-time workers, etc.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

LynahFan said:
I know - that's why I pointed out that dividing $5.5B among millions of employees wouldn't really change the employees' salaries very much. I'm not doing the research to find out exactly how many, but with many companies around the 100,000 employee level, there are easily many millions of people who earn their livings from F500 companies, especially if you include consultants, contractors, part-time workers, etc.
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To clarify, the $11million is in salary or total comp?

The key in this arena is that corporate boards need to be responsible and be aware of the new rules for exec comp. There have been wild abuses in the past, nobody can deny that. However, if comp is delivered according to the new rules and the stock of the corporation increases in value, the CEO will benefit. Trying to tie that to the annual salary of a non-exempt employee would mean that the guy cleaning the floor at Microsoft would have to make $300k a year during a good year.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

pirate said:
Trying to tie that to the annual salary of a non-exempt employee would mean that the guy cleaning the floor at Microsoft would have to make $300k a year during a good year.
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Some of them do. Employees back in the day were given the option of being paid straight salary or getting a percentage of their compensation in stock. The people who took the cash went to court (and lost) in an effort to get those stock options retroactively. If you meet a guy who has been cleaning the floor at Microsoft for 25 years, they're probably a multimillionaire.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

The financial crisis crime beat has picked up over the past few weeks. Last month's conviction of Lee Farkas, the mortgage swindler responsible for $2.9 billion worth of damage in the financial crisis and the first major white collar scalp for federal prosecutors, now sounds like an opening shot the ensuing legal battle for more scalps after Senator Carl Levin delivered his 650-page autopsy on the financial crisis to the Department of Justice. With representatives from big banks like Goldman Sachs featured prominently on the to-be-subpoenaed list, the report shifts focus to the U.S. attorneys general to take action.

Today, news broke that the DOJ can expect another set of actionable items featuring some of the biggest players in the financial crisis. According to The Huffington Post's Shahien Nasiripour, a series of confidential federal audits accuse America's top five mortgage lenders of defrauding taxpayers out of billions of dollars. The Department of Housing and Urban Development carried out five separate investigations which all concluded in violations of the False Claims Act, which Nasiripour describes as "a Civil War-era law crafted as a weapon against firms that swindle the government. The types of crimes committed should sound familiar by now:

The audits conclude that the banks effectively cheated taxpayers by presenting the Federal Housing Administration with false claims: They filed for federal reimbursement on foreclosed homes that sold for less than the outstanding loan balance using defective and faulty documents.

Two of the firms, including Bank of America, refused to cooperate with the investigations, according to the sources. The audit on Bank of America finds that the company -- the nation’s largest handler of home loans -- failed to correct faulty foreclosure practices even after imposing a moratorium that lifted last October. Back then, the bank said it was resuming foreclosures, having satisfied itself that prior problems had been solved.
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It's difficult to express not only the scale of the investigation--representatives from all 50 states participated--but also the impact the banks malfeasance allegedly had on American taxpayers. Should federal prosecutors choose to act on the accusations Bank of America along JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial will face the consequences of immeasurable damage. State and federal officials turned down the five banks' offer to settle out of court for $5 billion in damages. As only 2,800 home loans were reviewed over the course of the audit, one official said it could take years to review just how many homeowners were cheated and out of how much.
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"I think the problem is solved."
'How did you fix it?'
"We didn't do anything."

Good plan.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

Priceless said:
"I think the problem is solved."
'How did you fix it?'
"We didn't do anything."

Good plan.
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Go to jail
Go directly to jail
And stay there.

The penalty for fraud in Gulliver's Travels was death.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

From the US Secret Service:

0518_secretservicenew.jpg
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

bronconick said:
So, two days from now we'll start leaving Libya......right?

http://www.washingtonpost.com/opini...rs-act/2011/05/17/AF3Jh35G_story.html?hpid=z5
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This seems like a pretty big deal:

Make no mistake: Obama is breaking new ground, moving decisively beyond his predecessors. George W. Bush gained congressional approval for his wars in Afghanistan and Iraq. Bill Clinton acted unilaterally when he committed American forces to NATO’s bombing campaign in Kosovo, but he persuaded Congress to approve special funding for his initiative within 60 days. And the entire operation ended on its 78th day.

In contrast, Congress has not granted special funds for Libya since the bombing began, and the campaign is likely to continue beyond the 30-day limit set for termination of all operations.
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It would be interesting to read the administration's argument for why they don't think they have to.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

Bakunin said:
It's an executive branch power grab, plain and simple.
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Pretty much. And it'll be used as precedence going forward. Instead of getting approval for an action, the onus will now shift onto Congress to draft specific legislation ending appropriations for it. Needless to say, such an act makes you "against the troops" and will never occur.
 
Re: Obama XXI: Kenyan Muslins are ruining this country!

bronconick said:
Pretty much. And it'll be used as precedence going forward. Instead of getting approval for an action, the onus will now shift onto Congress to draft specific legislation ending appropriations for it. Needless to say, such an act makes you "against the troops" and will never occur.
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Every president since JFK has been angling for more and more executive power. Congress and the Court are supposed to be checking and balancing like mad. At least they might this time just for pure blind partisan reasons (when Dubya put Alito and Roberts on the Court, he wasn't talking about a Democratic unitary executive!!!!).

I would think the administration was in a perfect position to request Congress for an extension of funding. If the GOP approves it then they shoot their "rabble rabble Libya rabble" rhetoric down. If they deny it, then Obama can say "sorry, guys, I tried," and then blame anything bad that happens from then on on "that tragic missed opportunity blah blah blah."

If Dubya did this I'd say it was awful so, Obama having done it, I'd say... it's awful.

Kos rips them on it.
 
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