Of course this is populist rage, but it goes to show you how angry folks are about how out of whack the pay is right now; especially when it come to corporations that receive bailout money.
American voters say 81 – 16 percent that the government should limit executive compensation at companies receiving federal help, and say 47 – 44 percent that boards of directors and top managers at these companies should be forced to resign, according to a Quinnipiac University national poll released today.
Support for income limits is strong among Democrats, Republicans and independent voters and in all income groups, but the call for forced resignations drops as income rises.
So a sign of socialism spreading across the country? No, not really, as the followup question proves…
And voters oppose 64 – 30 percent trying to limit compensation at firms which do not receive federal bail-out funds. Low-income voters oppose such a move 56 – 35 percent.
Here’s the thing…I don’t think caps should be put on corporations in general, but do I think they need to wise up and realize that giving somebody a $20 million bonus for running the company into a ground is grossly irresponsible? Of course.
Do we need to legislate that? Probably not at this point, but it would have been nice to tie executive compensation to real performance instead of perceived. Because when you get to that level and you have so much responsibility for the livelihoods of others, some common sense regulations might not be a bad idea.
What do you think?