Charlotte Tea Party Headquarters

Abraham Lincoln- 1864 “Property is the fruit of labor…property is desirable…is a positive good in the world. That some should be rich shows that others may become rich, and hence is just encouragement to industry and enterprise. Let not him who is houseless pull down the house of another; but let him labor diligently and build one for himself, thus by example assuring that his own shall be safe from violence when built.”

Be careful when the Left stokes the flames of outrage over bonuses paid to people operating in the private sector. I fear the class warfare that may ensue if we continue to allow people like Harry Reid, Nancy Pelosi, and Barney Frank to stick the Government’s nose where it does not belong. It starts with regulating the salaries and bonuses of companies that received bailout funds, and I know most people think that is a good thing. The problem with Government has always been that once a power is granted they continue to expand that power because a precedent has been set. Barney Frank is in the background, slowly starting to show his intentions to regulate pay from ALL industries, especially those in the financial sector. He will start there because the Left thinks they can drum up enough hatred against the financial sector, pretending they were the only player in the economic downturn in late 2008. Most of us know that Government had a large role, especially in the housing crisis, but what about the masses that are so devoid of original thought and information?

And there will be people, smart people that think it is OK to regulate the pay of companies that received bailout funds, it’s OK to regulate those evil Wall Street guys, but not OK to regulate private industry. They think that once Government punishes bailout and financial sector executives they will leave the rest of the private industry alone. Do they not realize that all industry is next in the progression? Shortly the Pay Czar can find an excuse to expand their new power to regulate all industry. Can you imagine how many businesses would pick up and move to Ireland, Australia, or Germany? Even France or England would be a safer place to operate a business.

Some do not believe that regulating the pay of all industry could not be the goal of a Government official with so much power in the United States. But, Frank has said, “the federal government should play a role in setting executive-pay rules for public companies to reduce incentives that lead to excessive risk-taking,” and when talking about regulating pay and bonuses he has also stated, “the rules should extend to non-financial companies as well.” Go back and read the quote from Abraham Lincoln…read it very slowly.

Don’t you think that someone like Barney Frank would disagree fervently with Honest Abe? Barney might say something more like, “Property is gained by luck and screwing your fellow man… property is evil… it is the cause of a lot of evil in the World. That some may be rich means that others must be poor; the rich stand tall on the heads of their fellow man.” This message is being touted to the lower class, the lower middle class, and especially to minorities in poor neighborhoods. So rather than be inspired by the wealth created by private citizens and striving to one day have the things they have earned, the Left is convincing a large portion of society to tear down the homes and the earnings of their fellow man. No one can be safe from the violence that will produce. Be careful when you start allowing the Government to regulate what someone in the private sector can be paid. I promise you they will not stop until they have power over everyone’s wages, including your own.

And I know that defending bonuses and salaries for the bailed out is unpopular.... But check this out:

Employees of bailed out companies can no longer earn a base salary of more than $500,000. At least half of that salary would have to come in the form of company stock.

And Fannie and Freddie, who have already received $110 billion and only God knows how much more Government assistance under the table, what about their CEO's? Well, both of them may earn over $6 million dollars this year...despite Fannie and Freddie costing the tax payers over $100 billion dollars.  I would type something eloquent here about free markets vs central planning, or government corruption, or what our founding fathers might say.

I just cannot muster the strength and we all know that words cannot properly describe the situation we are all in. Why won't the Republicans in office speak up?

I apologize if this subject is boring or if people think I am way off base on this...but I just cannot get over it.  More stories continue to leak out about the Cental Planners in our government regulating, taxing, and punishing banks. Now, Prez-BO wants to impose a "Bank Fee" on any financial firm with assets over $50 billion. This is whether or not the banks accepting TARP money, or if they paid the TARP money back with interest!

I know it is not popular to support the evil, disgusting, rich and greedy bankers. But we either live in a land ruled by law, or ruled by popular opinion. If we live in a land ruled by popular opinion these bankers will get soaked. These banks will most definitely pass all of their taxes onto consumers, or will edit their lending rules to where they hold less than $50 billion in assets to avoid the tax! That is bad for you, for me, and for whatever recovery you might hope to have in the next several years.

Biggest problem I have? Listen to what a Republican, David Camp, a member of the House Ways and Means Committee has to say, "It’s going to be a tough bill politically to oppose." This is because he knows it is popular to be angry at the banks. He, and other Republicans, will go along with this because they are afraid that they will be accosted for being in bed with Big Business, Big Banking, Big Whatever. They know that this is harmful to the economy, to consumers, and deep down they know it reaks of Central Planning straight out of "Atlas Shrugged." But, this is an election year, so you'd better pander to the masses.

We are not supposed to be a democracy. As my guy Neal Boortz is fond of saying, "A Democracy is two wolves and a sheep deciding what's for dinner tonight." We have to uphold the law, as defined in the Constitution, or else we will have a dwindling number of sheep, and a growing number of starving wolves.

And no, I don't work for a bank. Just a 26 year old patriot wondering what has happened to his country

I tend to side with you. I don't work for a bank either. But I believe in free markets when it comes to distributing income and profit. If you haven't read my blog post take a look. I think you'll find it agreeable. http://www.charlotteteaparty.org/apps/blog/entries/show/2599113-taxing-bonuses-is-flawed-policy-and-bad-precedent