I really don't like the idea of instituting the plan retroactively. I am not sure why someone would suggest that.

bulldg4life: I really don't like the idea of instituting the plan retroactively. I am not sure why someone would suggest that.

No kidding. We can be more responsible without being draconian.

have

I am Jack's complete lack of surprise.

Wow just like his new lobbyist and torture rules

Lobbyists, taxes, exec pay...Oh those wacky democrats and their loopholes.

Some bankers and compensation consultants said they worry the plan will prompt an exodus of talent from companies with regulated pay to other firms.

Oh yea, good luck with that. Everyone is hiring now.

On another note, thank you for the WSJ article and not the opinion page whargarrble.

This was purely a move to earn some political capital by Obama.

Throw this on the news and the general public will think it's great. Look at the actual details and the restriction has no real teeth.

This just in: everything has loopholes if you look hard enough. Let's just hope it's someone's job to close up the holes.

are any credible sources saying the same thing?

Step 1, release plan to media.
Step 2, wait for story to explain problems in plan
Step 3, fix plan.

Takes a lot of gall to critize working folks for making a profit when you are proposing a trillion bucks in deficit spending and eating those 100.00 wagyu steaks.
What an ass. And he just surrendered to the Iranians.

Don't worry Comrades! Fearless leader has 7 step plan to make sure no one uses loopholes.

Step one: Place $500K limit on executive pay of companies accepting bailout money.

Step two: After recession ends (as it will regardless of what we do), announce that executive pay limits will be permanent for any business that took bailout money so as to avoid another recession.

Step three: Reclassify stock grants and options as ordinary income, thus no longer qualifying them for capital gains taxation. This prevents corporations that took bailout money from skirting the 500K salary rule by giving executives equity in lieu of higher base pay.

Step four: In order to prevent executives and investors from profiting on companies that took government money, change the length needed to hold to 5 years in order to qualify for long term capital gains tax on any investment in a company that took bailout money. All other previous stock purchases and investments are grandfathered in at the old holding length.

Step five: Once it becomes apparent that steps one through four are hurting the companies who once needed the government's help with their ability to recruit and retain qualified executives, announce that it is unfair to place these restrictions on only the companies who took bailout money. Implement steps one through four on any US based company, including LLC, S-corp, etc., and sole proprietors.

Step six: It will become evident that since investors were able to purchase large amounts of stock during the recession when stock prices were distressed, they will sell them after their grandfathered long term capital gains period is over, thus potentially creating a mini-recession as stocks devalue again. To prevent this, abolish long term capital gains and tax all investments as ordinary income in order to prevent investors from causing another economic slide. All previous and future stock purchases and investments are covered under this new change.

Step seven: Finally, to prevent executives, owners of private businesses, and sole proprietors from making more than 500K and to ensure that investors are not selling stock in a manner that could create future fluctuations in the market, pass a law revising the tax code to add a new tax bracket to anyone making more than 500k (625K if married). The tax for this bracket should be 100%. Anyone who works for the government, in the music/entertainment (film/tv) industry, or is a professional athlete is exemp

mediaho:

On another note, thank you for the WSJ article and not the opinion page whargarrble.

I thought WSJ lost all credibility when you-know-who bought it. Not that I believe it did, but there are others. Like this guy.

Headso: are any credible sources saying the same thing?

Headso: are any credible sources saying the same thing?

Last I checked, the WSJ is completely credible when it comes to devious shenanigans on Wall Street.

BTW,

4. Bonus - You don't have to PAY someone with gov't money to fix plan

Satan_Sunburn: Takes a lot of gall to critize working folks for making a profit

Now that's a funny simulpost. Kudos to bhcompy.

Headso: are any credible sources saying the same thing?

This isn't the Opinion Journal. This is the actual news section of the WSJ. Are you saying the WSJ is not a credible news source? If it is not, what do you consider a reputable source for news?

tortilla burger: This just in: everything has loopholes if you look hard enough.

Wow, apologist.

stolibro: Don't worry Comrades! Fearless leader has 7 step plan to make sure no one uses loopholes.

Step one: Place $500K limit on executive pay of companies accepting bailout money every company and employee (new window).

FIFY.

PowerSlacker: Now that's a funny simulpost. Kudos to bhcompy.

Indeed, sir. Well played.

IXI Jim IXI

enoxo: stolibro: Don't worry Comrades! Fearless leader has 7 step plan to make sure no one uses loopholes.

Step one: Place $500K limit on executive pay of companies accepting bailout money every company and employee (new window).

FIFY.

Step 5

welcome to the CONservative WallStroke Journal:looking out for the rich crony capitalist pigs of america who rightfully own america's government too!

ain't freedom great?

tortilla burger: This just in: everything has loopholes if you look hard enough. Let's just hope it's someone's job to close up the holes.

"effective Feb 14 (happy valentines day) no employee, of any title or job desciption at a company that is currently receiving monies from the govt bailout, or will receive future monies from this or future economic bailouts, can be compensated in excess in value of 500K dollars. Compensation will include salary, cash bonuses, stock options, and any and all covered benefits including health insurance, transportation, hookers, and blow."

/wow, that was easy.

Wait... WSJ thinks this is good or bad?

oh, add commissons to the language of my new bill. thanks.

xtragrind: This was purely a move to earn some political capital by Obama.

Throw this on the news and the general public will think it's great. Look at the actual details and the restriction has no real teeth.

yea, he REALLY needs the political capital. too funny!

Satan_Sunburn: IXI Jim IXI

They can't be working too hard. Some executives of one company find plenty of time to serve on other boards.

the biggest loophole is in Bush's brain.

rga184: /wow, that was easy.

But you have to define employee.

stolibro: enoxo: stolibro: Don't worry Comrades! Fearless leader has 7 step plan to make sure no one uses loopholes.

Step one: Place $500K limit on executive pay of companies accepting bailout money every company and employee (new window).

FIFY.

Step 5

Oooh. See, I pulled an Obama and stopped reading after something found my interest. Mea Cupla.

Linux_Yes: the biggest loophole is in Bush's brain.

That's Texas' problem now.

7of7: rga184: /wow, that was easy.

But you have to define employee.

Step 7 - no definition needed.

7of7: But you have to define employee.

ah, so you mean they might hire out their executives as "freelance consultants" of some type?

I suppose they could do that. But I think that's in the "too cute" category. All you need is a couple of watchful people to keep track of that shiat to spew it all over the news outlets to get them to rethink those strategies.

NPR reported on this extensively yesterday. WSJ spins them into loop holes.

So what is the conservative line on this? Is this plan too weak and ineffective or is it Stalin in blackface?

ilambiquated: Wait... WSJ thinks this is good or bad?

they sound concerned.

stolibro: Step three: Reclassify stock grants and options as ordinary income, thus no longer qualifying them for capital gains taxation. This prevents corporations that took bailout money from skirting the 500K salary rule by giving executives equity in lieu of higher base pay.

This should be the case anyways. Personal income is personal income is personal income.

Linux_Yes: the biggest loophole is in Bush's brain.

You are like the Anti-Darconix, huh.

Just Quit BOA yesterday. Sick of opening up the newspapers and reading about these greedy a-holes.

Satan_Sunburn: Takes a lot of gall to critize working folks for making a profit when you are proposing a trillion bucks in deficit spending and eating those 100.00 wagyu steaks.
What an ass. And he just surrendered to the Iranians.

The stupid is overpowering.

stolibro: Don't worry Comrades! Fearless leader has 7 step plan to make sure no one uses loopholes.

Step one: Place $500K limit on executive pay of companies accepting bailout money.

Step two: After recession ends (as it will regardless of what we do), announce that executive pay limits will be permanent for any business that took bailout money so as to avoid another recession.

Step three: Reclassify stock grants and options as ordinary income, thus no longer qualifying them for capital gains taxation. This prevents corporations that took bailout money from skirting the 500K salary rule by giving executives equity in lieu of higher base pay.

Step four: In order to prevent executives and investors from profiting on companies that took government money, change the length needed to hold to 5 years in order to qualify for long term capital gains tax on any investment in a company that took bailout money. All other previous stock purchases and investments are grandfathered in at the old holding length.

Step five: Once it becomes apparent that steps one through four are hurting the companies who once needed the government's help with their ability to recruit and retain qualified executives, announce that it is unfair to place these restrictions on only the companies who took bailout money. Implement steps one through four on any US based company, including LLC, S-corp, etc., and sole proprietors.

Step six: It will become evident that since investors were able to purchase large amounts of stock during the recession when stock prices were distressed, they will sell them after their grandfathered long term capital gains period is over, thus potentially creating a mini-recession as stocks devalue again. To prevent this, abolish long term capital gains and tax all investments as ordinary income in order to prevent investors from causing another economic slide. All previous and future stock purchases and investments are covered under this new change.

Step seven: Finally, to prevent executives, owners of private businesses, and sole proprietors from making more than 500K and to ensure that investors are not selling stock in a manner that could create future fluctuations in the market, pass a law revising the tax code to add a new tax bracket to anyone making more than 500k (625K if married). The tax for this bracket should be 100%. Anyone who works for the government, in the music/entertainment (film/tv) industry, or is a professional athlete is exemp

Wow, the sky must be all kinds of new and exciting colors in your imaginary world.

I'm surprised you're so shocked at this stuff, and just use it as another angle of zoOMG, OBAMA haz comuneest!!!

I thought considering these companies are receiving welfare at the expense of the american taxpayer, you'd be all bent out of hape crying:

PERSONAL RESPONSIBILITY
ACCOUNTABILITY

Like you brainded conservatives cry at every single farking thread that involves a poor person receiving help.

So I take it then, that the only people in the world who have to be accountable for their actions are the poor, or the middle class?

Sorry bub, you suck on the govts teat to the tune of 10 billion bucks, you're going to take a severe paycut until you pay it back. You don't like it? You can give us back our 10 billion and get whatever pay or compensation you were hired at.

/why is that so threatening to you?

lol



It's telling that the WSJ, favorite of Wall Street Crooks, instantly comes up with these outrageous ideas on how to skirt the rules. "Here, we're going to pay this 'janitor' (har har) $15 million in severance pay"

Nabb1: Headso: are any credible sources saying the same thing?

This isn't the Opinion Journal. This is the actual news section of the WSJ. Are you saying the WSJ is not a credible news source? If it is not, what do you consider a reputable source for news?

You just read the WSJ. Here is the NPR story (new window)on the same subject.

Which reads like news, and which reads like an editorial?

Shaggy_C stolibro: Step three: Reclassify stock grants and options as ordinary income, thus no longer qualifying them for capital gains taxation. This prevents corporations that took bailout money from skirting the 500K salary rule by giving executives equity in lieu of higher base pay.

This should be the case anyways. Personal income is personal income is personal income.

But at what value? If I'm granted restricted stock when the value of the stock is $5/share, but I don't sell it until its at $3/share.. Do you tax me on the $5/share price since that was when it was granted or the $3/share price since that's when I received cash?

/really hates being taxed on non-liquid events

If only these executives, compensation consultant's and attorny's used thier energy and knowledge to make their companies profitable as they do themselves.

PascalsGhost: Satan_Sunburn: Takes a lot of gall to critize working folks for making a profit when you are proposing a trillion bucks in deficit spending and eating those 100.00 wagyu steaks.
What an ass. And he just surrendered to the Iranians.

The stupid is overpowering.

Easy enough to fix: