Going Galt
October 22nd, 2009 - Written by Joey
Economics professor Alex Tabarrok on Obama’s Pay Czar’s idiotic move to cut bailed-out companies’ executives’ pay. (Yes, I said idiotic.):
“There is no way this will work as advertised. If the administration actually follows through, most of these executives will quit and get higher paying jobs elsewhere. Executives not directly affected by the pay cuts will also quit when they see their prospects for future salary gains have been cut. Chaos will be created at these firms as top people leave in droves. Will the administration then order people back to work?” [Heritage Foundation]
Let’s not give them any bright ideas, hmm, Professor?
This is just simple economics, folks. It’s just like the tax hike on those married couples making $250K per year. You don’t think that those couples are going to find a way (by either taking a lesser-paying job, or simply by one spouse quitting their job) in order to stay under the $250K cap?
LEFTISTS, WAKE THE HELL UP. Seriously. Most of you are employed by the government, are trial lawyers, trust-fund brats, work for a non profit, are college students whose boomer parents are paying your way, or are unemployed. Very few of you work for a private entity (or your own small business) that requires you to truly understand economics in a way that’s life-applicable and makes sense.
Yet here we are, with liberal bureaucrats–career politicians, attorneys and government employees who have never had to balance a P & L statement or make a payroll in their lives–making critical decisions that are affecting our economy while in its weakest state since the Great Depression.
Gosh, I feel better already.
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