The rich keep getting richer. And more and more Americans are noticing.

One would have to live in cave and reject all outside information not to be aware that, in some public corporations, executive pay has gone through the roof.

Its not unusual for top CEOs to take in millions, sometimes hundred of millions, in compensation each year.

Their retirement packages are nothing to sneeze at either.

Even failed CEOs sent packing by a companys board can often command a golden parachute in the high seven to eight figures.

This at a time when many companies are cutting salaries and benefits for line workers and retirees. Others are shutting down operations, laying off workers and outsourcing operations to cheaper climes.

Enter the government.

U.S. Rep. Barney Frank, D-Mass., wants to do something about sky-high executive pay.

Frank is sponsoring a bill that would allow shareholders an advisory vote to approve or disapprove executive pay plans, something that is fairly common in other countries.

The Bush administration opposes the bill.

The administration is right. However one may feel about pay for top executives, its not the governments place to mandate how that compensation is set.

Other countries can do what they want. But this nation didnt get to be the economic miracle it is by following the lead of lesser powers.

If a company wishes to give shareholders the power to approve or vote down pay packages, fine. And shareholders can push for such power.

But the government should stay well clear of creating such rules.