So, Alan Grayson's bill passed the House today, after a hilariously incoherent debate by the Republicans. They are determined to stand up for the right for wealthy people to loot the public treasury.
I realize that it is a fundamental tenet of their philosophy -- they really believe that wealthy people are morally superior and that when the economy sputters due to their ineptitude and greed, average working people should step up and dedicate a portion of their income to ensuring that the rich don't suffer the loss of their well deserved compensation. That's what serfs are for.
Still, it just strikes me as being a tad politically impractical, all things considered:
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.
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.
American voters say 51 - 45 percent that President Barack Obama's new budget, which doubles the national debt in 10 years, is needed to fix the economy and address issues such as education and health care, the independent Quinnipiac (KWIN-uh-pe-ack) University poll finds. President Obama's budget wins 80 - 16 percent support from Democrats and 50 - 46 percent support from independent voters, while Republicans say 76 - 20 percent it is too costly.
Executives at failing companies are victims of circumstances, 14 percent of voters say, but 39 percent say these executives are incompetent and 35 percent say they are guilty of fraud.
"President Barack Obama may be trying to dampen the populist rhetoric, but the American people are mad as hell and aren't taking it anymore. They want to vent their anger on the wealthy and on business. They think the folks who got the country into the financial mess are both stupid and crooked and want the government to burn them at the stake," said Peter Brown, assistant director of the Quinnipiac University Polling Institute.
You can certainly understand why the Republicans have decided to back the billionaires. They're just that good.
h/t to bill