Goldman Sacks CEO gets a 70 million dollar Christmas bonus, more tax needed?

Question

Looks like companies aren't taxed enough if they have 70 million left over to give one executive officer while Americans are losing their homes.

Are we back to the robber baron days?

Drew Blood - When did a shareholder ever approve an executive bonus? The stock holders would never approve a 70 million dollar Christmas bonus.

Answer 1

If we had progressive taxes like we did from FDR to Reagan You know back in the good old day when there was a huge middle class.

Of that 70 million 60 Million would have been paid in taxes on that amount roughly. The poor guy would have only gotten to keep 10 Million of his bonus. Why would he ever want to even go to work in the morning for that kind of money!!

If CEO would not get huge payments then there would be more profit for Share holders or higher wages down the lines.

CEO's making 50,000 times what an entry level employee makes does not seem right. Pre Reagen it was closer to 120 times more.

The Robber Barons are back, and its amazing how many people are fooled in to thinking that we need to cater to them!!

How about the CEO of that hospital chain that got 1.7 Billion for a 10 year contract. Oh he got it in stock options too so he only has to pay 10% to the IRS!!!

Answer 2

Apparently the shareholders and board of Goldman aren't too concerned with holding onto that money themselves, so one would think that a higher rate of corporate profit tax wouldn't make a difference to anyone but them. Shareholders are, ultimately, the individuals who wind up paying most of a corporate profit tax.

And the CEO's of the future? They'll still bust their butts in that position for a 2 million dollar bonus, just like they did only 15 years ago.

Answer 3

Yea, but you don't mention, that since that CEO was hired,

In the last year, goldman's Sachs profit, was up 93%,

They made over 4 billion more profit this year, than they did last year.

Now 73 million isn't very much, when you consider, that the CEO made the company an extra 4 billion dollars.

Answer 4

I find it absolutely AMAZING that people will complain about how large and powerful the federal government has become, then go on to complain that the government should step in and prevent corpororate CEO's from being awarded bonuses that SHAREHOLDERS and STOCKHOLDERS voted to approve. Either you want smaller government and more freedom, or you don't. Simple as that. But I wish some of you would make up your minds.

REMEMBER: A government powerful enough to give you everything you want is also strong enough to take everything you have!

Answer 5

That makes me sick.

I'm sure he received the brunt of the Bush tax cuts though. Why are we borrowing money from China for the war when there are people like this walking around with millions of dollars?

Answer 6

Im sure it was much deserved and earned. Its us lazy middle class earners pulling in 70 thousand or less that deserve to carry the burden of this nations' taxes. Long live Reaganomics and republican logic.

Answer 7

I'm shocked

Only a 8 digit bonus

I thought the Bush economy was doing meteorically

Answer 8

somebody, anybody, please tell me what person on this planet is worth a $70 million dollar bonus.... Why are consumers so stupid. I do not shop anywhere that practices this kind of crap. It is the consumer that paid this guy that money. I won't be a part of it.

Answer 9

history has proved that increased taxation is one of the killers of any economy. only currency debasement kills economies faster. if you want to make things worse, raise taxes.

Answer 10

Dude, he's like the A. Rod of CEO'ing.