Paul Cooper

Obama’s Pay Czar Thinks No One Should Make More Than $500k

Posted on February 6 2010 2:34 pm
Paul Cooper is a husband and father above all else. With a wife and 2 daughters he could use a dog, but sadly he only owns a cat – a female cat no less. Paul is also a pastor, blogger, and business owner. Find him on Twitter.
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These Obama Czars keep outdoing themselves.  Czar after czar seems to promote socialism and communism every time they open their mouths.  Now Pay Czar Kenneth Feinberg has joined the fray.

Feinberg, a lawyer and former Chief of staff to Ted Kennedy, was appointed by the President as a czar over compensation packages for companies the government has bailed out.  He took criticism by conservatives for forcing companies to slash the pay of individuals in privately owned companies.

Last Wednesday on Fox Business Channel, Feinberg appeared to be saying no one in America should make more than 500k dollars a year in base pay.

Neil Cavuto: What connotes excessive compensation…in the back of your mind, no matter how well someone is doing – it’s obscene, what is the level of what you think, just anybody borders on obscene?

Feinberg: Here’s what I’ve said, publicly in my pay determinations, nobody should receive more than a base cash salary of $500,000 maximum…that is sort of the figure that is the benchmark.

Thankfully some of the panel on Fox News understood how atrocious this statement is.

“This is pure envy, Bolshevist, Orwellian nightmare – what we’re hearing from Ken Feinberg…People should earn as much as they can earn…this is just crazy.” – Ben Stein

Stein is right.  The American dream is that anyone in our country can succeed.  Rags to riches is the heartbeat of our free enterprise system.  To promote a salary cap for all wages is a journey to socialism.  It’s really ironic that  Feinberg would say this just after President Obama told Republicans in Congress that his policies are not Bolshevik.

Another interesting tidbit of information is to look at what Kenneth Feinberg has made in his career as a lawyer who went after big business lawsuits.  Check out this quote from a Time Magazine biography on Feinberg when discussing work he did on a big Agent Orange class action suit for Vietnam vets:

“Feinberg after just six weeks on the job was able to reach a $180 million settlement between the toxic defoliant’s manufacturers and its victims. Some critics noted, however, that although veterans sometimes waited years for their payouts, Feinberg earned an immediate $800,000 for his work.” – Time Magazine

I guess $800k is okay as settlement money, since it isn’t a base pay salary.  How convenient. And I guess $800k is okay while veterans waited years for their money.  People who make all their money suing others should not be given the power to limit the pay of those who actually create both wealth and jobs.

Hopefully America is waking up to the real change that Obama is trying to bring.

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