Salaries

Should the federal government regulate the salaries of private individuals?

Some people are suggesting the feds should look at the salaries CEOs earn and move to limit the amounts paid to CEOs.

Obama and Clinton and McCain have darkly hinted at some type of action by the feds to limit these salaries.

I say the feds should perhaps, and only perhaps, look at CEO salaries after the federal government has done the following things:

1. Balanced the federal budget and paid off the national debt.

2. Placed Congress - House and Senate members - on the same Social Security system that most Americans are forced to use and eliminated the special retirement system Congress established for itself.

3. Enacted terms limits for Congress to a period not to exceed 12 years of total service.

4. Limited the salaries of lawyers to no more than $100 per hour not to exceed $200,000 a year of total salary for any lawyer since the Chief Justice of SCOTUS makes less than $200,000 per year. AND, Lawyers cannot accept more than 10 percent of the proceeds of any lawsuit since the victims shall receive 90 percent of all compensation. However, the $200,000 limit applies to this also.

4. No Hollywood actor, director, producer, writer, or other person involved in the celebrity business shall receive more than $50,000 for any movie deal and shall not receive more than $200,000 in any year. All profits above these levels must be given to the federal government.

5. No baseball, football, basketball, soccer, race car driver, tennis player, golfer, or other person in the sports entertainment business including owners, stockholders, adminstrators, or others, shall receive more than $200,000 per year as salary.

6. No stockbroker, investor, hedge fund owner, broker, banker, union boss, retired politician, university employee, foundation employee, media personality (of all types) or other person in the United States shall be compensated more than $200,000 a year in total compensation from ALL sources.

After all of the above happens for a period of ten years, then Congress may look at the pay of corporate America.