Assigned Reading: White House Set to Appoint a Pay Czar
(FROM: The Wall Street Journal)
It’s 1:30 a.m. and, for once, I’m actually writing this from my home office instead of at a laptop somewhere in the house. Therefore . . . hold on a second . . . I can reach my copy of The Communist Manifesto.
Of course, there’s the standard fare about how salary caps will inevitably chase away top talent and stifle any motivation for success. Yes, it’s just another step taken by this president and his administration to rein in American exceptionalism, but there’s more to it than just the standard, growth-stifling arguments.
The Obama administration’s planned appointment of an official tasked with ensuring that entities which were forced to take bailout funds abide by pay caps reinforces a fact already reinforced by the administration’s refusal to accept repayment of bailout money from companies in a position to do so — this has never been about fostering recovery and success, this has been about control from the beginning.
Just as South Carolina Gov. Mark Sanford and Alaska Gov. Sarah Palin have been arguing about their vehement opposition to accepting federal stimulus funds, anything that comes from Washington comes with strings attached.