While You Wonder How to Pay for Your Child’s Education – College Presidents Are Becoming Millionaires
What a time we are living in huh? We have a President who sees himself as some sort of deity blithely appointing what is turning out to be a shadow government in his many Czars. Including the all powerful Pay Czar who has been commissioned by his Imperial Majesty to over-see executive pay for private corporations. What we need is a Pay Czar for institutions of higher learning.
This nation is in a terrible financial crisis and we all recognize it. Many are losing their jobs due to downsizing caused by the economic situation. Emperor Barry seems to be convinced that taking measure that will only deepen the recession is the pathway out of it. How else can you explain the idea of raising taxes during a recession?
With all that is wrong economically, how can it be that we as a nation have a record number of college presidents who are millionaires?
From FoxNews.com…
The fast-growing group of millionaire private college and university presidents hit a new record in recent years, and it’s likely more college leaders will make seven-figure salaries once the slumping economy rebounds.
A record 23 presidents received more than $1 million in total compensation in fiscal 2008, according to an analysis of the most recently available data published Monday by the Chronicle of Higher Education. A record one in four in the study of 419 colleges’ mandatory IRS filings made at least $500,000.
The justification for the all powerful Pay Czar is to oversee companies which took federal bailout funds as a result of the current economic crisis under TARP. However, it is my contention that colleges and universities in this nation have been accepting federal funding under the Department of Education for decades. Why is it there is no Pay Czar to oversee these executives?
After-all, what does a college or university president actually do?
I won’t hold my breath waiting for an answer because I doubt there is one.
Congress appropriates additional funding to assist with college educations and what is the first thing that always happens? Tuition goes up. There is a trade off for you.Who is getting the money? From the Fox article I’d say these fat-cat college presidents.
So I say to the Emperor…
Your Imperial Majesty,
It is the humble opinion of this not-so-loyal peasant that appointing a Pay Czar to stick your hands into more pockets at this time seems a bit misguided when many who have been robbing the American taxpayer for decades continue to do so and becoming millionaires in the process.
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