Obama Defends Policies as Pro-Business

President Barack Obama has definitely taken some heat over his policies on business, his overall strategies to get us out of the worst economic slump in decades, and his proposed cap on executive salaries, which have become a major concern since the collapse of major companies that people felt gave their executives way too much pay and way too many fringe benefits. The problem with this, they say, is that it takes away the incentive to executives to do a great job, and it also detracts from company’s searches for top talent to make their companies run better.

I can sort of see some of their point there, but there does have to be some sort of common sense oversight of compensations that are just ridiculously disjointed when it comes to pay being directly related to how the company is doing. For example, a lot of companies that downright failed and had terrible numbers, their executives were STILL given stellar salaries and even bonuses.

That is unfathomable to be honest. They were still being rewarded for running their companies into the ground, that’s just not right, and that is certainly not incentive to make things go right when you know you’re going to be compensated at ridiculous levels no matter what you do to the company.

I do feel that this part of the Obama administrations financial policy is right, however, I think it needs to be adjustable per business and their unique circumstances. As any good business person knows, there is never a situation where a one size fits all approach is good, you have to take it case by case. If the companies numbers are terrible, no bonus, for example, if the companies sales are bad, then no bonus and less pay, common sense things like that, but you can’t just impose a broad, across the board limit on executive pay, that is boderline socialism in the end.