Wednesday, February 25

In Britain, No Maximum Wage Law, yet 

Phew! That was close. Jolly ol' England almost passed legislation, gasp, limiting executive pay. Good thing no one in the U.S. is passing this story around:

"The government today decided against imposing legislation to curb executive pay, even when companies underperform.

The trade and industry secretary, Patricia Hewitt, said that recent examples of increased activity by institutional investors, and the promotion of best practice, had the potential to resolve the 'rewards for failure' row.

'I have considered very carefully the question of whether to introduce further legislation in this area, and have concluded that this is not necessary at this stage,' she said in a statement."

Thanks you, Hewitt.

People might get ideas and institute a "Maximum Wage" to go along with the "Minimum Wage" here. People might get the idea to say no one can earn more than $1,000 an hour. Geez, that sounds so high, people would vote for it. That would be awful. All that money freed up and spread around for , gasp, anyone to use? Never!

Most of my pals make more like $20,000 a minute, so this would be viewed by the 1,000 or so of them as really extreme.

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