G-20: We Will Determine How Much You Get Paid at Your Job

As I previously noted, President Obama wants to cap the salaries of executives in the financial industry.

It gets worse!

Now we learn that Obama has agreed to allow the rest of the world to decide how much "bankers" can make!

The Group of 20 also agreed on new global rules to cap the pay and bonuses of bankers...

Assuming the decision-making power to set these salaries and bonuses stays within the G20 nations, representatives of the following countries will be able to control what a private company in the United States pays to its own employees:

• Argentina
• Australia
• Brazil
• Britain
• Canada
• China
• France
• Germany
• India
• Indonesia
• Italy
• Japan
• Mexico
• Russia
• Saudi Arabia
• South Africa
• South Korea
• Turkey
• United States
• European Union

I know you lefties don't care how much those evil rich bankers make, but in a moment of honesty, don't you think it a bit dangerous to allow someone form Indonesia, Turkey or South Korea set anybody's salary here in the U.S.?

I do.

And what will happen if the International Monetary Fund gets involved in setting salaries.

Guess what? Your salary will be next. Mark my words, and Barney Frank's:

(Frank) said the compensation restrictions would apply to all financial institutions and might be extended to include all U.S. companies.

...the House Financial Services Committee, led by chairman Barney Frank, has approved a measure that would, in some key ways, go beyond the most draconian features of the original AIG bill. The new legislation, the "Pay for Performance Act of 2009," would impose government controls on the pay of all employees -- not just top executives -- of companies that have received a capital investment from the U.S. government.

So, the world will set the pay for executives at banks; the rules that apply to executives at banks could apply to all employees of the banks; the rules for bank employees could apply to ALL employees in ALL companies.

You do the math....