This is not: “You Try to Live on 500k in This Town,” a NY Times article that explains why Obama’s proposal will make life unlivable for the executives whose daily life is inexorably tied to wasteful extravagance. When you don’t follow your own advice and save some of your 1+ million dollar salary, it’s harder for me to take your mortgage seriously. Just the same, when your necessary annual expenses include paying your Tom Daschle-style chaffeur, it keeps America firmly on the revenge train. If extravagance is required by corporate culture, then the culture-change brought about by salary-caps or (better yet) progressive tax increases can be a good thing.

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