Ah, we await the await the appointment of a "pay czar" by the Marxist administration that is in power in the United States. A local radio host (Lonsberry www.lonsberry.com) noted this and observed that totalitarian regimes have repeatedly under some pretext or other, killed hundreds of millions of people subject to them (Stalin, Mao, Pol Pot), and the person from whom the word is derived, the Russian Czar or Tsar, was a tyrant.
Why a pay czar? Well, the current regime has vilified executives. The regime wants to remove free market constraints and this is the first group to be targeted. Who is next?
The rationale for control of compensation of these executives is that they work for publicly traded companies. The Boards that oversee those companies are supposedly not competent to determine compensation in the open market.
Oh. Who is next? Well, since the "overreaching interpretation of the 'commerce clause,'" the door is open for unlimited expansion of federal intrusion into the lives of citizens (and non-citizens). Since a universal health care system is proposed (one which will not expand health care resources but might in fact limit them but which will allocate care according to the precepts and values of the central government), then doctors, nurses, and other medical personnel "should" have their compensation limited because their high pay levels would deprive beneficiaries of the health program of care.
We can go from activity to activity and industry to industry, from the financial field (banking and securities), to manufacturing (auto industry and suppliers to that industry), let your imagination be your guide but know that as wild as it is, bureaucrats will be at work providing ideas justifying eventual control of all sectors of the economy and compensation (except for the nonce probably entertainment and sports).
Goose step. Goose step. Finance., Manufacturing. Pay. What have you? You are living in an increasingly controlled economy, and one controlled by ideologues without any meaningful experience in the areas they control. The result will be immobilization and eventual total paralysis of industry. Why under Chavez in Venezuela, who observed Obama's success and rapid acquisition of control of the means of production in the U.S., with the substitution of political hacks in the Venezuelan oil industry, production has fallen some 30% with greater drops of course, inevitable.
Please remember to address "the authorities" with deference, respect, and love. Henceforth refer to Obama and successive members of his dynasty as "Comrade Dear Leader."
