Pearls Before Swine

Senator Durbin,

You have missed my point entirely. I hold that it is not the place of the Federal Government, or ANY government for that matter, to regulate how a private company disposes of its monies. How a private individual, company, or corporation manages their assets is entirely up to them and NOT the government. If you implement laws and regulations that direct private entities how to dispose of their income you have essentially declared property rights null and void and proclaimed that the Federal Government is the supreme authority with regards to property. This runs counter to the Constitution of these United States which clearly declares that private individuals or entities have supreme authority with regards to their own property. Please confine your activities and legislation to that which falls within your purview as a Senator. Leave private business to private entities and focus on your primary responsibility which is the defense of this nation's people and their Constitution. Good intentions are wonderful, however good intentions do not excuse one from following principle. The principle you took an oath to uphold is the principle of personal liberty and limited government as set forth in the Constitution.

Thank you,
Veritas Curator

Original Message:

Dear Mr. ________:

Thank for contacting me to share your concerns about efforts to restrict executive compensation. I appreciate hearing from you.

In recent months, public anger has grown as troubled financial institutions continue to provide large compensation packages to executive employees - particularly in companies receiving government assistance.

Supporters of limiting executive compensation note that the difference between worker pay and executive compensation has grown exponentially. In 1965, the CEOs of major U.S. companies earned an average of 24 times the compensation of the typical worker. By 2007 the difference in compensation had grown to the point where CEOs earned an astonishing 275 times the typical worker's pay. Even in the midst of the worst economic downturn since the Great Depression, and as people are losing their jobs, their homes, and their savings, executives have continued to award themselves lavish bonus packages.

Opponents of government limitation of executive pay argue that this form of regulation could prompt valued executives to leave troubled financial institutions when their talents are most needed.

I believe that we must address this ever-widening gap between employee and executive compensation. I have introduced legislation that would continue to allow companies to provide large packages but require shareholder approval before a company allows executives to receive more than one hundred times the average pay of the rest of the company's workforce. This approval would respond to taxpayers' legitimate concerns about bonuses paid by companies receiving taxpayer assistance, while leaving the ultimate decisions about bonuses in the hands of the shareholders, where it belongs.

Thank you again for writing.

Sincerely,
Richard J. Durbin
United States Senator

RJD/ms