Billionaire says Wall St. pay is too high

Bill Gates, the world’s wealthiest man, says that Wall Street pay is “too high.”

Although Gates was going somewhere that made sense, I always cringe when this subject comes up. Gates was pointing out that a 1993 law limiting executive pay to $1 million actually had the reverse effect (as government interventions tend to) and sent executive pay to new heights. He also spoke against the government’s purchase of private companies like AIG.

Now if Gates is the owner or shareholder of said Wall Street companies, his opinion actually means something. But for one American citizen to say that another citizen is making too much, or that their house is too big, etc. is a road that leads to a very bad place. Because that’s when government unconstitutionally steps in.

Not that I am some kind of anarchocapitalist – I am just a guy who fears government overstepping their role in the private sector.