
Democratic Underground (an unswerving progressive organization) is reporting that Goldman Sachs has a bonus bonanza - $23 billion in 2009 - double the bonus pool paid to employees in 2008. It goes on to ask: How much is $23 billion? It could have paid for 460,000 full paying students to Harvard University for one year, or 115,000 for four years. It could have paid health insurance for an American family 1.7 million times. As Goldman pays it's biggest bonuses ever to employees it won't pay much in taxes either - only about 1 percent, according a prominent tax lawyer, "They have taken steps to ensure that a lot of their income is earned in lower-tax jurisdictions." It's time that corporations start paying their fair share in taxes and we roll back the Reagan tax cuts so the wealthy can pay their fair share and help bring back the middle class by rewarding people who actually make things instead of these obscene pay packages for people who make absolutely nothing but only move money around.
Take it for what it's worth, but the fact remains that we have become a nation that produces little but makes money from money. These are the same money-changers who took their business to the Temple, and got tossed on their keisters. Why are they any better today than they were in the past?
Joined: Jul 2005
Current Posts: 1715
A Goldman Sachs International adviser defended compensation in the finance industry as his company plans a near-record year for pay, up 46% from last year, saying the spending will help boost the economy. Brian Griffiths, who was a special adviser to former British Prime Minister Margaret Thatcher, said yesterday at a panel discussion in London, "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," The panel's discussion was called "What is the price of morality in the marketplace?" Apparently the real morality or reality for Goldman Sachs is - All the rest of us will just have to wait for that money to trickle down from the banker's overstuffed wallets. As always, trickle-down economics produces a nation of peons.