I would like every person to raise their hand if they believe that $500,000 a year is a rip off. Even for a stressful and “important” work position. Today, President Obama announced a salary cap of ½ a million dollars for executives in companies that receive a lot of taxpayer bailout cash. Of course, some people on Wall Street went crazy when they heard this news. While others, including myself, cheered. This seems like a perfectly reasonable request, especially for the time being. Perhaps, if the executives end up being profitable and contribute in making American and global society profitable, sustainable and reputable again then the cap can come off.
Considering the fact that U.S. residents are helping them out, they should really appreciate having a job at all. That’s what people tell me, even though I had my hours cut by 20% and therefore my pay. Not to mention that I was underpaid in the first place. Why should I get on board to hand out money to corporate fat cats for yachts, larger homes, sport cars and vacations? (The last one really gets me angry because travel is the luxury I truly envy) Seriously, can anyone give me a good reason?
By the way, if any executives are reading this and want to quit there job because of the salary cap, I'll take you job for a year at $500,000.
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