OPINION: Big executive welfare slobs
Republicans who haven't figured out that their party is in ruins should consider this: Democrats - far left big government types such as Harry Reid and Nancy Pelosi - have taken to protecting citizens from corporate welfare. And who's criticizing them for it?
The Republican White House! It's all upside down and inside out.
CEOs of the Big 3 United States automakers flew to Washington in their private jets, hoping for a heapin' helpin' of failure welfare. They had their heads handed to them by Democrats, who wanted to know why they didn't fly commercial. They wanted to know why three ultra-rich men, who clearly can't make simple, cost-effective travel plans, were sitting before Congress with their hands out.
Proving that the world is upside down, Republicans said nothing. Except for the White House, which complained the men weren't given a check and sent on their way.
"It is appalling that Congress decided to leave town without addressing a problem that they themselves said needed to be addressed," White House press secretary Dana Perino said.
It's appalling to Republicans that Democrats were troubled by three arrogant, overpaid entitlement brats - failed CEOs who've played a part in ruining our nation's auto industry - showing up in private jets to ask for $25 billion in federal funds?
That pretty much says it all about the state of the Republican Party. All of the criticism about entitlement fat cats asking for handouts came from the left.
CEOs don't get that taxpayers are tired of giving money to multimillionaires who have no intention of living in reality. They're tired of bailing out insurance executives who flaunt their wealth with lavish resort parties, only days after receiving corporate welfare checks.
They're tired of bailing out CEOs who receive multimillion dollar salaries, and million-dollar bonuses, despite the fact their companies are failing and broke. Taxpayers certainly aren't in the mood to write welfare checks for CEOs who show up in Washington to request welfare after taking corporate jet rides that each cost roughly $30,000 round trip.
These three welfare CEOs were all traveling from Detroit to Washington on the same day for the same meeting to plead the same case. Yet they couldn't even share one jet, let alone stoop to something like first-class seats on a commercial airliner.
Here's a message for welfare seekers such as the CEOs of our country's Big Three: The party is over.
And here's an idea for Congress. Rescue no company without appointing a trustee to oversee it, instructing the trustee to eliminate lavish parties and other forms of wasteful spending. Sell the corporate jets, limousines and swank leather chairs and use the cash to help with the bailout. Congress can do what it pleases, so Congress should make all bailouts contingent upon an understanding that the bailout money negates whatever contracts the CEO and other top executives have with a company. Let the CEOs decide whether to take or leave the bailout money, knowing that acceptance of the gift negates all compensation contracts, including the golden parachutes most unemployed, foreclosed-on taxpayers would rather not fund. Instruct the trustee to lower all executive wages to $75,000 a year, where the wages shall remain until the taxpayers' money has been repaid in full. CEOs unhappy with their new compensation packages will be free to leave. The amount saved likely wouldn't make much real difference in the companies' bottom line, but such measures would send a message about responsible spending.
Government has no business soaking the rich with high taxes. Likewise, it has absolutely no business telling private corporations how much to pay their CEOs. All that changes, however, when CEOs ask government to fund their companies.
With bailout funds, these companies are no longer private. They're living on the public dole, so they effectively belong to the taxpayers and their representatives. That means the CEOs and their executive staffers can learn to live more like the public that's forced to feed them.
