BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Steve Forbes Pinko Liberal Commie

Market Movers

by Megan Barnett
Main
Extra Credit, Wednesday Edition   The End of Art as an Asset Class

Recent Blog Posts

Links

Apr 02 2009 8:50am EDT

Steve Forbes, Pinko Liberal Commie

Steve Forbes is no fan of progressive taxation — the idea that in a community where all contribute to the commonweal, the better-off should sacrifice more of their income than the poorer folks. Indeed, he published an entire book, entitled Flat Tax Revolution, to the proposition that any burden placed upon the well-to-do should be shared equally by all.

And yet here’s the latest announcement from his eponymous magazine, Forbes:

Other measures to be taken include: suspending 401K matching contribution; salary reductions for anyone making over $100,000, amounting to 10% of the increment over $100,000. Also, employees will have a week long furlough with no pay.

This is taxing the rich! It’s class warfare! Why should those employees earning a six-figure salary be singled out for pay cuts? If you cut their pay, don’t you know that you’re going to reduce their incentive to work hard, and also the incentive for lower-earning employees to aspire to their position? And these are the most productive members of the firm! You’re punishing success! You should be giving the higher-paid employees a pay rise, instead — that will surely boost corporate revenues!

Come on Steve, walk the walk. If the rich can’t be treated equally with the poorer at Forbes, where is the hope for them in this world?

Reprinted from Reuters

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More