Congress battling over the shape of the $700 billion bailout means some want to add in executive pay restrictions and large-scale mortgage renegotiations for troubled homeowners.
While my opposition to limiting CEO pay is melting as the promise of more federal taxpayer bailouts makes more CEOs de facto government employees, I don't see much sense in propping up the last vestiges of the housing bubble by continuing to compensate those who can't afford their mortgages.
If anyone in Washington D.C. is interested in treating taxpayers as more than ATMs, they would repeal automatic deduction of payroll taxes. Let's go back to having Americans make their own tax payments. Congress should make this a part of the bailout bill.
