Today President Barack Obama capped executive pay for companies receiving U.S. taxpayer bailout money. In his speech, President Obama said,
“We’ve all got to pull together and take our share of responsibility. That’s true here in Washington. That’s true on Wall Street. The American people are carrying a huge burden as a result of this economic crisis: bearing the brunt of its effects as well as the costs of extraordinary measures we’re taking to address it. The American people expect and demand that we pursue policies that reflect the reality of this crisis – and that will prevent these kinds of crises in the future.”
What about tying taxpayer bailouts/funding to a mandatory living wage? It’s the responsible (and ethical) thing to do; it will ease the “huge burden” the American people face by ensuring fair wages; it reflects the “reality of this crisis” – which is that too many Americans, even in our recent financial boom, do not have jobs with adequate compensation – a major reason why our economy is in shambles and the middle class vanishing; and it would be a great way to “prevent these kinds of crises in the future.” What about it?