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January 27, 2011

Comments

Choke, your Haiku is powerful, however, your thinking is inside the box. We live in a Plutocracy. The rules you speak to only apply to the “little people”. Perhaps you are not rich enough to benefit from being “conservative” in 21st century America. See the quote below, which is only one reference to the fact that the ultra wealthy pay little to no tax…

Dec. 16 (Bloomberg) -- Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007. The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement.

And then 2009:

NEW YORK (Fortune) -- It's probably cold comfort, but Goldman Sachs couldn't have done it without your help. The New York-based investment firm turned another eye-popping profit Thursday, earning $3.2 billion in the third quarter, as revenue from trading rose fourfold from a year ago.

As Wall Street firms typically do, Goldman set almost half that sum aside to compensate its workers. Through the first nine months of 2009, the firm socked away $16.7 billion, enough to pay the average Goldmanite $526,814.

The bonus pool is on pace to hit $21 billion for 2009, which would match the record bonus payout of 2007.

Royale...Goldman is hiring! Send your resume on over there. A guy with your understanding of economics and financial markets could be invaluable to them!

You seem to have an issue with the brightest minds NOT being in the government, and with them meeting their stated business goals and thereby profiting by executing their strategy. You get compensated the same way...you meet your job goals and then you get paid for it. In fact, you get pre-paid for your employer's expectations of you. Goldman does exactly what their shareholders expect of them. Fairly consistently and quite well, I might add. Probably not unlike you for your employer and its shareholders.

Now stop being a kill-joy!

Maybe one day we will have the levers to pull which are available to Goldman...I doubt it. It is interesting to watch how all of the Fox News watching conservatives which live on a pension are reacting to the plans for cuts in education and healthcare while the likes of Goldman are being rewarded. They are not so happy. Why should they carry the stone as per chokes analogy? They did not cause the problem.

Royal, I agree that the Very Rich pay little or no taxes. The chumps that pay taxes are people like you and I and others that took the time to get educated and get jobs that others felt were valuable enough to pay you big bucks. Guys like that get socked. Not the Manor born.

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