Once upon a time there was a great nation built on free market and capitalism. The whole world knew you could come to America with nothing in your wallet and turn it into something prosperous. Many families of this nation have these stories of distant relatives coming from other countries with nothing and with a little hard work and some risk would make something of themselves. Well, I have to break it to you, those days are probably gone. The days of capitalism are dwindling as Washington D.C. is appearing more like Moscow in the late Soviet Union, than the United States of America that we knew and loved as under administrations like President Reagan. With big government taking control of most of the large corporations in the U.S. they are now finding it acceptable to regulate pay too. This idea is surely making our founding fathers roll in their graves!

Just recently the pay czar, Ken Feinberg, authorized the pay cuts of 50-90% for many CEOs who’s companies participated in the government bailout. This didn’t include all the companies that participated, no, it was only seven certain ones: Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial. The two big ones who’s CEOs will not receive pay cuts are Goldman Sachs and GE. The reason being because these companies are going along with every major policy decision of the Obama administration.

These bought out, er, I mean bailed out companies are not the only targets though. This is also to include any business that the government, the treasury, or possibly, the fed deems is too economically important to fail. That would mean small business too, or the Chamber of Commerce who represents over 3 million businesses that engage in the free-market system. This administration wants to control your right to make money! The Federal Reserve in correlation with Ken Feinberg, has also proposed to monitor pay packages at thousands of banks, including those that never received bailout money. And this proposal covers a huge scope of nearly 6,000 banks and a wide range of employees, everything from executives to traders to loan officers.

Excuse me, but I am most positive that there is no where in the constitution that gives the executive branch the authority to regulate what privately owned businesses should pay their employees. I know some of you might say that because these companies took buy out, I mean bailout money that the government has every right to regulate their salaries. However, if that was the case instead of the administration making these decisions it should be the people whose money was used for the stimulus, but even that is not constitutional.

So here we are again looking at the Obama administration making anti-capitalist decisions leading us down the road of socialism to the town of communism. Which in essence is when the government is in charge of the economy. Is this the true intentions disguised by President Obama? And is this really what those who voted him into office had in mind when promised a new kind of politics? I would like to think not.  Like it or not, capitalism is what has made this country strong. Like a family to be formed starting with a Mother and a Father, in a successful society there must be those who make enough money to pay those whom they employee. A classless society where there is no wealthy may sound Utopian to some, but it can not, has not, and will not ever work.

Capitalism- an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

Communism- a : a doctrine based on revolutionary Marxian socialism and Marxism-Leninism that was the official ideology of the Union of Soviet Socialist Republics b : a totalitarian system of government in which a single authoritarian party controls state-owned means of production c : a final stage of society in Marxist theory in which the state has withered away and economic goods are distributed equitably d : communist systems collectively. ( Like Health Care Reform)

Marxism- the political, economic, and social principles and policies advocated by Marx; especially : a theory and practice of socialism including the labor theory of value, dialectical materialism, the class struggle, and dictatorship of the proletariat until the establishment of a classless society.

Sources:

http://www.rushlimbaugh.com/home/daily/site_102309/content/01125114.guest.html

http://sweetness-light.com/archive/obama-to-slash-bank-ceos-pay-90

http://online.wsj.com/article/SB10001424052748704224004574489263857516126.html

Glenn Beck Show 10/23/09

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