Enter the maximum wage

The Obama Administration, known for never letting a crisis go to waste, used the popular outrage over the $165 million in executive retention bonuses paid out by AIG, as the perfect segue to introduce the idea of imposing a maximum wage in the United States. Citing the “Arrogance, Incompetence and Greed” that purportedly represents the ethos of AIG and other Wall St. firms, Mr. Obama has had little trouble inciting incendiary hatred toward executives among America’s larger corporations.

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I find it curious that Mr. Obama is so “outraged and angry” over the bonuses, when they were grandfathered into the much vaunted Stimulus Bill that he signed into law on Feb. 18th. Did the President or his minions not know what was in the ‘‘American Recovery and Reinvestment Act of 2009’’ before he signed it into law? Or is it possible that public disclosure of the bonus payments presented Mr. Obama with an ideal opportunity to advance his radical agenda? In a piece penned March 9th, Bloomberg News columnist Kevin Hassett mused about Mr. Obama’s apparent declaration of war on business, citing the perverse consequences of many of the president’s initiatives. As I did in these pages back in October of last year, Mr. Hassett wondered whether Barack Obama was a ‘Manchurian Candidate’ planted by some malevolent foreign power to destroy the United States by forever crippling the American economy.

Policy initiatives are driven by ideology not interest in an economic recovery

One sure way to achieve a permanently handicapped US economy is by limiting the amount of money Americans are allowed to earn. Similar experiments in other countries have had disastrous results. The case of Sweden comes to mind when individuals like film director Ingmar Bergman and actress Bibi Anderson were forced to flee the country because of annual income taxes in the 140% range. A maximum wage law would result in the flight of talented executives and entrepreneurs out of the United States to other jurisdictions that did not limit one’s ability to earn. Such a law would be a boon to countries like Canada, Australia, Ireland and New Zealand as American businesses and their executives would relocate in droves. It would also result in America becoming a Third World nation, as its wealth would literally disappear overnight. I no longer believe that Mr. Obama and Congressional Democrats are interested in an economic recovery. I believe that the administration’s policy initiatives are driven by ideology because it isn’t possible for college educated lawyers, such as Barack Obama and Harry Reid not to realize that going into debt for trillions of dollars will eventually destroy the American economy. But then, there is a slight possibility that the Democrats are living in blissful ignorance, given that they have chosen a retarded person to serve as Speaker of the House, a position that’s third in the order of presidential succession. The current economic crisis has presented a radical regime in Washington with an opportunity of a lifetime. Without realizing what is happening Americans are seeing their country change before their very eyes; from a nation with a proud tradition of innovation and entrepreneurial spirit to a drab and sclerotic bureaucracy where equality of outcome is guaranteed, regardless of effort. The biggest and most devastating loss the current recession is likely to inflict on Americans is the loss of their freedom.