Representative
[Barney] Frank's proposal has a high demagoguery quotient, but
does little for public policy. What will we hear from Financial
Services Committee next, that the government is setting salaries
for professional athletes?
Dick Armey, Former Congressman, Chairman of FreedomWorks
The proposed legislation opens the floodgates for increased
government
regulation over what private companies pay their employees;
setting the
dangerous precedent that government can and should have
oversight in this
area.
Under current law, executives are directly accountable to their
shareholders, making attempts at increased transparency
unnecessary. The
result of Representative Frank's proposal would increase the
role and scope
of government by expanding the ability of Congress to regulate
salaries.
Watchdog group
FreedomWorks Chairman Dick Armey commented, "Salaries should be
set by
market forces, not government regulation. Representative Frank's
proposal
has a high demagoguery quotient, but does little for public
policy. What
will we hear from Financial Services Committee next, that the
government is
setting salaries for professional athletes?"
FreedomWorks opposes H.R. 1257.
