Home > Uncategorized > Washington University Breakthrough in Corn’s Geneitc Code Demonstrates Why Salary Controls Should Be Opposed

Washington University Breakthrough in Corn’s Geneitc Code Demonstrates Why Salary Controls Should Be Opposed

The St. Louis Post Dispatch reports that scientists at the Washington University Genome Center have decoded the genetic structure corn.  Researchers hope that this will allow them to develop corn that is sturdier and more efficient to grow.  The Department of Agriculture and National Science Foundation provided the 29.5 million dollars for the project. 

The findings are available for any scientist to use.  Here is an example of government spending that will lead to private sector benefit.

And that’s the problem.  Over the past year many in Congress and the administration have taken a punitive stance against executives of the large federally assisted financial institutions.  They demanded  retro-actively taxing 90% of the income of executives who received bonuses, holding that those payments were accountable to the TARP funding.  

The administration has also directed a pay czar to designate limits on executive pay in these firms.   The justification is that these executives are being benefitted by government money, there the government has the right to decide how much they are paid.

Many people, including some conservatives, agree with the pay limits because they resent te ideal of CEO’s making millions of dollars when they are being supported by taxpayer money.

We absolutely agree with that premise, multi-billion dollar investment banks should not be financially rewarded for poor performance.   The TARP bailout should have never happened.

However, the Washington University discovery is also a publicly funded project that will benefit highly paid individuals.  Farmers, food companies, and 150 researchers will be conduced by the nearly $30 million of federal spending.

Should we start reducing the salaries of professors, scientists, and administrators at Washington University.  We applaud the great work of the scientists, but we also point out that our tax money went to an institution where many students disrespected Phyllis Schlaffly, a woman we greatly respect.

The point is that if you use the notion that the government has the right to cap people’s salaries because it give them money, that opens the door for them to use that to control everyone’s salary.

What about if they spend money to put extra lighting for a dangerous store front, or conduct special infrastructure repair that ads value to a particular private investment.  The government, especially this administration, can find a way to attribute almost every business gain at least partially to government spending. 

Very easy, when that government is spending  $3.5 trillion in a single year.  The limitations for executive pay is only the  beginning  for the progressive authoritarian move toward “fundamental changing this nation”.

NOT ON OUR WATCH.

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