Don’t Fall For It
"President Obama threw a temper tantrum yesterday over corporate bonuses. His populist rhetoric may have even gotten a few conservatives to nod approvingly, but don’t fall for it, my friends. It was nothing more than the typical liberal appeal to class warfare, and an invitation to Big Government control over the economy that all of us will regret.
Railing against corporate bonuses in an economic downturn makes for great sound bites, but it ignores reality. Here are a few facts the liberal media won’t tell you.
"President Obama threw a temper tantrum yesterday over corporate bonuses. His populist rhetoric may have even gotten a few conservatives to nod approvingly, but don’t fall for it, my friends. It was nothing more than the typical liberal appeal to class warfare, and an invitation to Big Government control over the economy that all of us will regret.
Railing against corporate bonuses in an economic downturn makes for great sound bites, but it ignores reality. Here are a few facts the liberal media won’t tell you.
- A lot of people on Wall Street receive relatively modest salaries, but get most of their annual income through year-end bonuses. That is true for employees from the boardroom to the mailroom. In fact, the $18 billion covered over 165,000 people! Did President Obama mention that or were you left with the impression that a handful of “Wall Street fat cats” laughed all the way to the bank? And not all companies paying out bonuses are getting government bailouts either.
- It is the height of hypocrisy for this president to rail against $18 billion in corporate bonuses while he is pitching an $800 billion bailout of Big Government and billions in “bonuses” to leftwing special interest groups.
- President Obama complains about excess and extravagance on Wall Street. This is coming from the man whose inaugural celebrations were the most expensive in our nation’s history, costing taxpayers well over $100 million in the middle of an economic downturn.
- President Obama says there will be a time for profits and bonuses, but this is not it. Really? Now would be a great time for profits. How does he think the economy is going to turn around without corporate profits? I guess companies will now have to wait for his permission before they can earn a profit.
- The salary structures of private companies are none of the government’s business. That’s up to the shareholders. Do we really want the government policing and dictating salaries in the private sector? It already impacts your standard of living enough when it comes to the amount of withholding in your paycheck. Wait until some bureaucrat knocks on your door and says, “Sorry, but we think you’re paid too much.”
- Citi’s $50 million corporate jet – The jet was ordered in 2005, not last week. The company was scheduled to take possession of the jet in a matter of days, but under pressure from the government Citi cancelled the contract. What about the service and maintenance jobs Citi would have supported with the purchase of that jet? Don’t they matter? This is how Big Government intervention crushes free enterprise and stifles the economy.
Since we’re railing on “shameful bonuses,” try this: The Democrat Congress is going to give itself a $4,700 pay raise this year AND that’s in addition to a whopping $90,000 increase in the budgets for each congressional office! According to the Capitol Hill newspaper Roll Call, “In recent years, the [office budgets] have increased each year by about $25,000-$30,000 per office, several sources said, making this year’s increase remarkable.”
There are no layoffs, cutbacks or belt-tightening for Big Government, but there are plenty of harsh words for Corporate America, which actually creates jobs. A wise man once said, “Government is not the solution to our problem; government is the problem.” Liberal Democrats have it backwards."
Gary Bauer
Campaign for Working Families
Be sure to listen to Gary on Sirius:
New Radio Show
"Along with my colleague Tom Rose, I am co-hosting a new 2-hour Sunday show on Sirius XM radio. You can listen from 11:00 AM until 1:00 PM ET on Sirius Patriot 144 or America Right XM 166. It is lively and timely, combative and entertaining, in my humble opinion. We encourage phone calls, and we are getting a lot! This week, we will be talking to “Joe the Plumber.” Give us a listen and give us a call at 1-866-95-PATRIOT."
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