Below is a letter to the Wall Street Journal written two days ago. It is a great analysis of the implications of letting the federal government have the power to control private sector salaries.
To those who would defend the government's ability, justification and right to negate Ken Lewis's contract and hijack his pay ("The Fall Guy," Review & Outlook, Oct. 2), I offer a John Adams quote found in David McCullough's book "John Adams." Adams stopped at a tavern for lodging. He happened to overhear several locals discussing British actions regarding taxation. One man says to the rest, ". . . if Parliament can take away Mr. Hancock's wharf and Mr. Row's wharf, they can take away your barn and my house."
Mr. Lewis might already be considered rich, as was Mr. Hancock, and the amount of severance may seem to be outrageous, but to you supporters of this confiscation I ask: If you grant the federal government's pay czar the power to confiscate or alter the pay of 175 Americans today, whose barn or house is next?