Obama to Appoint Pay Czar

According to a Wall Street Journal article, Obama is set to appoint a Pay Czar.  The responsibilities of this person would be to oversee the executive-compensation guidelines for firms receiving aid from the Troubled Asset Relief Program (TARP).  By doing so, Obama takes us another step closer to socialism.  Previously, salaries for some employees were capped while bonuses for others were nixed.  As we saw with the AIG Bonus fiasco, what was rightfully promised to employees was taken away to serve a political purpose.

When the government steps in and tells us how much we can earn, that’s just wrong.  The market should be allowed to determine what is acceptable.  When someone works hard, they should be rewarded appropriately.  While many blame the Wall Street Banks for the downfall of the financial system, they are not the only ones.  There are many parties to blame, including, “We the People.”  Because we always want things our way, we caused this mess.  The Government did one better by forcing the banks to participate in the Community Reinvestment Act.  This basically forced banks to make bad loans.

By allowing the government to regulate pay, we invite them to regulate other things in our lives.  Obama’s already taken the next step by telling us that we can only drive a certain type of car.  One that gets 35.5 miles per gallon.  Next thing you know, Obama will be telling us what to wear, what to listen to, and what to watch on TV.  Obama will then tell us what we can look at on the internet.  Government should stay out of our personal lives.

Pay should be determined by the free market.  If you do a poor job, you get paid less.  If you do well, you get rewarded.  If someone will do the same job as you, but for less, that person will get the job.  It’s as simple as that.  That is the way the United States has operated in the past, that’s the way we should continue to operate.

Obama is acting like the Union, but in reverse.  Instead of demanding a “minimum” wage, he’s limiting it.  It’s bad enough that he wants to take all of our money through taxes.  Obama is dumb.