Just this week the President of the United States fired the CEO of a publicly traded U.S. corporation. He did so without consulting the company’s board of directors. He did so without consulting the company’s stockholders. And he did so without ANY authority.
Now the media is lobbying against Mr. Wagoner getting his separation pay. Monday night while being interviewed by Greta Van Susteren, Rick Kline of ABC news suggested (actually more like dreamed of when) public opinion would force Obama to reconsider paying the ousted CEO, Rick Wagoner’s $21 Million separation contract. Never mind that this individual was a 32 year employee of GM or that this money was legally earned and GM is contractually obligated to pay it; Kline, seems to believe that public outrage should over rule legal contracts. Kline cited the public outrage surrounding the AIG bonuses and Congress’ actions to place a retroactive tax on that legally earned money. In case you missed it, and I can see how you might have since the media didn’t bother to report it, that Democratic action turned out to be UNCONSTITUTIONAL. Whooops!
Folks, this is the French Revolution with the tax code as the guillotine! This is open class warfare being egged on by the press. Two weeks ago a group in Connecticut organized a bus tour of the homes of the AIG executives. This is a community organizing group in action – in case you were still wondering what that entry on our President’s ever so thin resume was all about. Stirring up the masses against their fellow citizens is their specialty and it is extremely dangerous.
Maybe you don’t have any sympathy for AIG or GM executives. That sentiment is understandable. But, you must ask yourself where it will stop? This week the House Financial Services Committee led by everyone’s favorite lunatic, Barney Frank, has approved legislation that would impose government controls on the pay of all employees (not just top executives) of companies that have received capital from the U.S. government. Yet again, the Democrats are trying to impose a retroactive tax measure that would change the terms of legally binding compensation agreements already in place.
As usual, I’m left doing the usual stunned stare at the computer screen asking myself, “What the heck is wrong with people?” Unjust, illegal actions by our government should concern all American citizens regardless of their feelings about the individuals being targeted. Some day, that citizen may be you! Will it be ok if the government rewrites your employment contract ex-post-facto? Will it be alright if protestors march in front of your home because they think you make too much money?
Remember, the French Revolution began due to economic turmoil. Citizen’s unhappy with their financial status became determined to oust the ruling elite (read – upper class). At first, the King and other members of nobility were the targets of the outrage, but eventually some 30,000 people were executed as “enemies of the Revolution” many of them common citizens (people we’d today call middle class) who argued for reason and Common Sense, people who dissented.
Have Some Sense 