…to a point.
Currently, many companies that do business with the Federal government can get Uncle Sugar to pick up as much as $763,000 of their executives’ pay—a cap that, in today’s world of the Evil Sequester, is going to go up to $950,000 at the start of the new fiscal year this October. And it will be retroactive for all of the current fiscal year of 2012. That’s your and my money going into a paycheck that companies in the private world cover entirely out of their own revenue flows. President Barack Obama wants the cap lowered to $400,000.
I agree. Cord Sterling, Vice President of the Aerospace Industries Association, does, too:
Arbitrary caps are not the best approach and do not account for competition among all hi-tech industries in the market for talent.
Indeed, and to that point: why are we taxpayers subsidizing any part of these guys’ pay? This is a subsidy that needs to be eliminated altogether.