Pelosi and the Democrats Prevented From Murdering Impoverished American Babies - Mercedes-Benz Forum
 
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post #1 of 8 (permalink) Old 01-30-2007, 03:26 PM Thread Starter
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Pelosi and the Democrats Prevented From Murdering Impoverished American Babies

I'm sure FTL will be able to find sympathy in his massive, bleeding heart for the millionaires who 'left it all behind' to make a paltry $162,500 (before fringe benefits and perks to work in the U.S. Congress) who were forced to forego a 1.7% pay raise this year. Boo fucking hoo. Fortunately, that money can be spent by government agencies to keep poor children in America from starving or freezing to death, not that Steny Hoyer cares.

KOTV.com - The News On 6
WASHINGTON (AP) _ When Democrats blasted Republicans last fall for taking annual congressional pay raises while blocking numerous attempts to raise the minimum wage, it was an effective campaign tactic. Democrats vowed not to accept the annual cost-of-living hike until Congress increases the minimum wage.

But Republicans angered over the political attacks are unwilling to allow Democrats to reinstate the so-called members' COLA, forcing Democratic leaders to scuttle the 1.7 percent pay hike for the entire year.

``There will be no COLA adjustment,'' said a disappointed Steny Hoyer of Maryland, the House's No. 2 Democrat, on Tuesday.

Hoyer has for years played a central role in finessing the ticklish issue of lawmakers' pay, working cozily with GOP leaders to make sure an annual pay-related vote went smoothly.

Lawmakers' pay will be frozen at $165,200 for this year in the dispute, in which Democrats violated a yearslong understanding that the competing parties would not use the pay raise issue in campaign ads.

Under the annual COLA, lawmakers automatically get a pay hike unless Congress votes to block it. Hoyer and GOP leaders such as Minority Whip Roy Blunt, R-Mo., made sure to smooth over any potential obstacles to the pay hike.

Typically, the annual vote on the pay hike came on an obscure procedural move _ instead of a direct up-or-down vote _ and the Democratic and GOP whips each delivered a roughly equal number of votes to shut off any move to block the pay hike.

Blunt said Democrats broke the agreement last year after the pay raise-related vote had already taken place. In a 263-152 vote in June, the House blocked a bid by Rep. Jim Matheson, D-Utah, to force an up-or-down vote on the pay raise.

``The agreement always was that the parties would not use the COLA issue in the campaign,'' Blunt said. ``It was as formal as anything not signed is.''

Under the congressional pay raise law enacted in 1989, lawmakers won a big pay raise in exchange for giving up honoraria for personal gain. The COLA was born as part of the reforms, but it also had the political benefit of freeing lawmakers from having to vote on pay hikes.

The issue is ripe because a GOP-drafted stopgap spending bill carrying language delaying the pay hike expires Feb. 15 _ and lawmakers would automatically start receiving their raises the following day.

A huge spending bill for the current budget year is moving through the House on Wednesday, and Democrats tried in recent days to reach agreement with Republicans on language to delay the pay raise a few more weeks or months to provide more time for the minimum wage bill to advance into law.

Republicans said no.

``The DCCC ran their own ads attacking (GOP) members on this,'' Blunt said. ``Because of that their members are going to suffer in terms of not being able to have a COLA.''

Members were originally due to begin receiving a 1.7 percent, or $2,800, annual increase Jan. 1. They had already lost about $320 with the delay to Feb. 16.

Senate GOP Whip Trent Lott, R-Miss., pressed for congressional pay hikes since his days as a member of the House Republican leadership. Lott expressed disappointment at the news, noting there's no shortage of wealthy lawmakers _ such as House Speaker Nancy Pelosi of California and Sen. Edward Kennedy _ using the pay raise issue as a political sword.

``It's very easy for the multimillionaires ... to demagogue this issue,'' Lott said.

It's sad that the $2,800 pay hike (which is more than most people making less than $90,000 / year get) would be on the table at all. COLA math is fuzzy at best, kind of like the formulas used to calculate prices at the gas pumps. Percentages derived from median prices don't scale fairly to the poor or the rich.

Pelosi and the Democrats Prevented From Murdering Impoverished American Babies-cola-trends.jpg

This chart shows how the lines grow more sharply the more money youstart making. While everyone on the chart ends up making 19% more than they did at the beginning of the 20 year period, the differences in real money are vast:

The Congressman would be making $32,230 per year more than they did at the start of the 20 year trend. The $40k base salary grows by $7,933, and the $90k base salary grows by $17,850.

Next time you want to bitch about the rich getting richer, blame percentage-based COLA math used by ignorant HR departments the world over, and your faithfully overspending Democrat-controlled Congress.


EDIT: Sorry for the mis-labeled legend in the chart...I did it pretty quickly.

Last edited by Qubes; 01-30-2007 at 03:28 PM. Reason: Typos
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post #2 of 8 (permalink) Old 01-30-2007, 03:35 PM
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post #3 of 8 (permalink) Old 01-30-2007, 04:07 PM
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post #4 of 8 (permalink) Old 01-30-2007, 07:13 PM
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Another thread showing the GOP has little of real substance to offer.

Anyone smell tuna?
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post #5 of 8 (permalink) Old 01-30-2007, 07:26 PM
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post #6 of 8 (permalink) Old 01-30-2007, 07:45 PM
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Another thread showing the GOP has little of real substance to offer.

Anyone smell tuna?
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post #7 of 8 (permalink) Old 01-31-2007, 08:33 AM
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Just an interesting fact:

In findings that could surely be matched in the United States, the Canadian Centre for Policy Alternatives reported in January that the country's 100 highest-paid business executives had, by 9:46 a.m. on Jan. 2, earned an amount equal to what the average Canadian would earn in all of 2007.

[Standard-Freeholder (Cornwall, Ontario), 1-2-07]
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post #8 of 8 (permalink) Old 01-31-2007, 09:37 AM Thread Starter
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Just an interesting fact:

In findings that could surely be matched in the United States, the Canadian Centre for Policy Alternatives reported in January that the country's 100 highest-paid business executives had, by 9:46 a.m. on Jan. 2, earned an amount equal to what the average Canadian would earn in all of 2007.

[Standard-Freeholder (Cornwall, Ontario), 1-2-07]

Bush Aims At Hefty CEO Paychecks -- Wednesday, Jan. 31, 2007 -- Page 1 -- TIME
President Bush took aim Wednesday at huge salaries and bonuses for corporate executives, going to Wall Street to say compensation packages should hinge on how good a job a CEO does for the shareholders.

Bush highlighted optimistic news about the economy and to bring his economic message out of the shadows of the Iraq war. Shortly before he spoke, the government reported the economy grew at a faster-than-expected 3.5 percent pace in the final quarter of last year.

The president also was acknowledging the anger of Americans at stories about the enormous salaries and other perks for CEOs. "Government should not decide compensation for America's corporate executives," the White House said in a report ahead of Bush's speech. "But the salaries and bonuses of CEOs should be based on their success at improving their companies and building value for their shareholders."

The White House statement appeared aimed in part at legislation that Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, has said he will push, requiring shareholder approval of executive compensation plans.

Huge salaries and other perks for CEO have drawn ire from investors and made splashy headlines. Home Depot chief executive Bob Nardelli was earning an average of $25.7 million a year — excluding stock options — before he was forced out in a furor over his hefty pay. He left with a severance package worth about $210 million.

In 2001, General Electric Co. paid chief executive Jack Welch $16.25 million. Welch was replaced that year with Jeffrey Immelt, who earned $3.4 million in total annual compensation in 2005.

The New York Stock Exchange faced an uproar over former CEO Richard Grasso's $187.5 million severance package. Former New York Attorney General Eliot Spitzer, now governor, sued members of the NYSE board over the package given to Grasso when he quit as chairman in 2003.
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