It was nearly two weeks ago that the House of Representatives, acting in a near-frenzy after the disclosure of bonuses paid to executives of AIG, passed a bill that would impose a 90 percent retroactive tax on those bonuses. Despite the overwhelming 328-93 vote, support for the measure began to collapse almost immediately. Within days, the Obama White House backed away from it, as did the Senate Democratic leadership. The bill stalled, and the populist storm that spawned it seemed to pass.
But now, in a little-noticed move, the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the “Pay for Performance Act of 2009,” would impose government controls on the pay of all employees not just top executives of companies that have received a capital investment from the U.S. government. It would, like the tax measure, be retroactive, changing the terms of compensation agreements already in place. And it would give Treasury Secretary Timothy Geithner extraordinary power to determine the pay of thousands of employees of American companies. Read More
Big Government power grab is what Obama is after and the Democrat controled congress is giving it to him. We The American People is the only ones that can stop this take over of our country. The Tea Parties are great, but there are other issues that need to be addressed in the protest besides big spending. The take over of our country, our guns, our businesses and most of all our rights. America is being ruled by crooks! Do you want government to Set Your Salary?
Please take time to check out The Washington D.C. Tea Party Project 912
(2) GS 1600