To be, or not to be... In Touch With Reality
One of the selling points of Mr. Obama as leader of the ‘free’ world was that he was/is in touch with reality. By this, of course, it is meant that his struggles have been similar to ours so he shares our values, ideals, and sensibilities. Naturally we assume this about him because he did not grow up the privileged son of a wealthy, decorated, World War II pilot. Or the son of an Admiral. He wasn’t a movie-star. He hadn’t been in elected office his entire professional life. The spoon in President Obama’s mouth was not silver but more like the spoons in our own humble mouths; stainless steel or plastic.
But is this assumption valid? For one thing there are many examples of people who came from humble beginnings only to have their world view twisted into something very different from that held by the common man. The easiest example of course has to be Bill Gates. He rose from nothing to become the wealthiest man in the world, and while his philanthropic efforts are laudable, a cursory look at his lifestyle leaves little doubt that he shares few sensibilities with you or I. Another excellent example is nearly every actor in Hollywood. The majority came from humble beginnings but it is far more difficult to find those with feet on the ground than their colleagues who’ve left planet Earth. Of course there are also examples of people who rise far above their origins yet retain their pragmatic view of life. Sam Walton comes to mind, who throughout his life continued to dress as he always had, drove pickup trucks, and visited his stores incognito. Doubtless he enjoyed his wealth and deservedly so, but those how knew him well always maintained that he was respectful and understanding of the average citizen. We all know examples from each group. We hold those in the former in disdain, and those in the latter in high regard.
Now back to Mr. Obama. It was difficult not to be swayed by the notion that his humble beginnings, which were played at length during the campaign, provided him with a world view consistent with prudence, frugality, and pragmatism. In other words, he wasn’t going to be irresponsible and wasteful and would try to reign in those who were. But I’m beginning to wonder if I may have missed the mark, or even been lied to. While Mr. Obama talked a lot about being in touch with reality, his actions since taking office speak a very different language. Most notably his decision to limit the bonuses paid to executives of failing banks.
Mr. Obama has proposed to limit the bonuses paid to executives of failing banks to $500,000. A half-million dollars. Let’s get this straight. These executives work for FAILING BANKS. They drove their business into the ground through greed and took your money with them. It got so bad in fact that they came to the government and begged – BEGGED – for more money. Your money. And for that we’re going to limit their bonus to $500,000? So last year the executive got $1,200,000 and $500,000 is a punishment? And Mr. Obama claims to be in touch with reality? What reality does he claim to be in touch with, because that decision doesn’t exist in my world view.
A half-million dollars. $500,000. How many of us could eliminate our lifetime debt, have money left over for college for our kids, and still knock ten years off our retirement age with $500,000? I’m talking mortgage, cars, credit, everything, wiped clean, and still not have to work for two or three years. Money is time. How much of your life is $500,000 worth. And that’s what he’s limiting as bonuses to failed executives? On top of their base, six-figure pay?
Perhaps it is just because $500,000 is so much less than $750,000,000,000 that he thought it would be okay. Or that it wouldn’t matter. Or that we wouldn’t notice. But this isn’t a matter of degree. The Nazis murdered 6,000,000 Jews during World War II. Does that mean we’re not supposed to prosecute people who only murder one person? What these executives deserve is to be fired, like would happen to you or I if we failed even far less spectacularly. What they should do, if they had a shred of honor and decency, is volunteer to work for free until the problem they created is fixed. Then maybe they can start drawing an hourly wage like the rest of us. But for some reason they, and our politicians, think they are entitled to a standard of living far above our own. And the most amazing thing about it all is that they’re using our money to get it! When they say this, what they really mean is, our lives aren’t important when it come to their standard of living. Feudalism.
In touch with reality. I think he needs a reality check.
-Futbol Guru, http://mises.org/community/blogs/not-a-lemming