Why $500K Is Not Enough

[ClydeR]

An article (http://www.nytimes.com/2009/02/08/fashion/08halfmill.html) in the Style section of the New York Times explains why the $500K salary restriction is too little for executives of bailed out financial institutions. In addition to the normal high prices in New York City where most of those executives live, they also are expected to have the accouterments that other big executives have.

When you go through the list of annual expenses -- $32,000 private school tuition, $96,000 of mortgage payments, $96,000 condo maintenance fee, $45,000 nanny, $100,000 for a chauffeur/bodyguard, etc. -- you see that these unfortunate executives won't have much left with which to pay their taxes. After taxes, they're in real bad shape.

It's easy to look at $500K and think it's too much, but when you walk a mile in the executives' Berluti loafers, you come to see that things aren't so clear.

The article also acquainted me with Serendipity (http://www.serendipity3.com/history.htm) frozen hot chocolate (http://ezinearticles.com/?Serendipity-Frozen-Hot-Chocolate&id=43482). How is it possible for chocolate simultaneously to be both hot and frozen? After reading about it, I definitely want some! According to the article, it costs $8.50. If I ever go to New York City, I'm going to splurge on some.

[CrystalTears]

Fuck em.

[TheLastShamurai]

playaz got billz yo.

[NocturnalRob]

Fuck me.
pretty sure this is what you meant.

[CrystalTears]

pretty sure this is what you meant.
Nope. Fuck them. They can kiss my ass with their $500k isn't enough BS.

[Keller]

Nope. Fuck them. They can kiss my ass with their $500k isn't enough BS.

They'll say, "but I have fixed expenses!?!"

And then you say, "And all the people whose savings/investments you halved? All the people whose jobs you bet away? Did they have fixed expenses, too?"

[CrystalTears]

They'll say, "but I have fixed expenses!?!"

And then you say, "And all the people whose savings/investments you halved? All the people whose jobs you bet away? Did they have fixed expenses, too?"
:heart:

We've all made sacrifices. I want to know what kind of sacrifices these assholes have made.

[Celephais]

The problem is they're still going to expense all that frivilous shit to the company, so it won't be coming out of their salary, they're still going to be 'draining' the companies for more than 500k a year.

[Parkbandit]

While I'm against Government imposing restrictions like this on the free market.. I seriously have no problem with this since these companies have come looking for a free handout. I hope that this will force companies to look to the government as a very last resort.

[Methais]

brb gonna shave my balls

[Drunken Durfin]

If any of those exec's sole income was their base salary then they are complete idiots. You could force them to a base salary of a Mississippi school teacher and it still would not have that much of an impact on their ability to cover their fixed expenses.

[Keller]

If any of those exec's sole income was their base salary then they are complete idiots.

Why do you say that? I don't disagree, just wondering why you say it?

[Jace Solo]

CT changed the avatar! RAWR!
Does RAWR mean Fuck me too? I bet it does if you ask Rob...lol

[Back]

When you go through the list of annual expenses -- $32,000 private school tuition, $96,000 of mortgage payments, $96,000 condo maintenance fee, $45,000 nanny, $100,000 for a chauffeur/bodyguard, etc. -- you see that these unfortunate executives won't have much left with which to pay their taxes. After taxes, they're in real bad shape.

Holy shit. Cry me a river.

[Jace Solo]

and then to add something intelligent to the discussion.

In a low British voice.
"Hmmm...yes, quite."

But really. I agree with PB. I think there should be caps on welfare too...like $0. But then the whole thing is made to make people dependent on government handouts anyway but to make it look like we're really getting something out of it. American Public 0 - Liberals 1.

I'm sure the score is much heavier in Lib favor. I just don't feel like counting it up.

[NocturnalRob]

CT changed the avatar! RAWR!
Does RAWR mean Fuck me too? I bet it does if you ask Rob...lol
Indeed it does.

[Celephais]

Holy shit. Cry me a river.
You're aware he's just baiting, right?

[Parkbandit]

You're aware he's just baiting, right?

Unlikely.

[TheWitch]

I really don't have a lot of pity for them.

Like 0.

This is turning into class warfare, and they're sitting on their high horses claiming a lifestyle to which they've become accustomed should continue to be supported on the backs of people like us, who manage just fine with our "fixed expenses" with no government handout, thank you very much.

When they're responsible for the whole mess to begin with?

Suck it the hell up.

[Back]

You're aware he's just baiting, right?

Sure. But the NYT Style section reporter wrote an article on it and I’ve read that the CEOs themselves think its too little (of course). There are people out there who believe it.

I bet the people who are most against welfare are for these big corporate bailouts.

[TheLastShamurai]

If any of those exec's sole income was their base salary then they are complete idiots. You could force them to a base salary of a Mississippi school teacher and it still would not have that much of an impact on their ability to cover their fixed expenses.

wait wait wait.

mississippi has schools!?

[Parkbandit]

Sure. But the NYT Style section reporter wrote an article on it and I’ve read that the CEOs themselves think its too little (of course). There are people out there who believe it.

I bet the people who are most against welfare are for these big corporate bailouts.


I'll take that bet, dumbass.

[Jorddyn]

This is turning into class warfare, and they're sitting on their high horses claiming a lifestyle to which they've become accustomed should continue to be supported on the backs of people like us, who manage just fine with our "fixed expenses" with no government handout, thank you very much.


Paraphrased for now, but made me want to charter a jet to Detroit and punch him in the throat:

Reporter to GM COO: "What's it like working for a company that received bailout money?"
GM COO: "I have to stand in line at the airport. I don't get to stay at decent hotels. I don't get a bonus."

What GM COO should have said: "It's been a really good reality check for me. I'm standing in line at the airport with the people who are paying additional taxes to keep my company alive. The hotels I'm staying in cater to the very people who drive our cars. I owe these people so much, and am so grateful they've given us another chance."

[Back]

I'll take that bet, dumbass.

Ok, that was a hasty comment on my part. I should be more specific... I’ll bet those CEOs opinions on welfare is slightly less than positive.

[Daniel]

I really don't have a lot of pity for them.

Like 0.

This is turning into class warfare, and they're sitting on their high horses claiming a lifestyle to which they've become accustomed should continue to be supported on the backs of people like us, who manage just fine with our "fixed expenses" with no government handout, thank you very much.

When they're responsible for the whole mess to begin with?

Suck it the hell up.

Thank god the market is self regulating or we wouldn't be having any of these issues.

In fact, if the government wasn't so dead set on social engineering they would have never provided the environment for these people to get so rich and they never would have tried to take advantage of the very people who support them.

Wait...

[Drunken Durfin]

Why do you say that? I don't disagree, just wondering why you say it?

If they had enough business sense and education to get the job, they have enough knowledge about our tax system to know that it is skewed in favor of the very wealthy. A base salary, or "earned income", is the highest taxed form of income in the US. Capital gains, interest and dividends, on the other hand, are taxed much less.

[Daniel]

If they had enough business sense and education to get the job, they have enough knowledge about our tax system to know that it is skewed in favor of the very wealthy. A base salary, or "earned income", is the highest taxed form of income in the US. Capital gains, interest and dividends, on the other hand, are taxed much less.

That's just to encourage growth.

Okay. I'll stop now and take this seriously..

[Rocktar]

...This is turning into class warfare...

When they're responsible for the whole mess to begin with?


Well fucking DUH! With Liberals/Socialists/Marxists it is has ALWAYS been about class warfare. They think they are so smart and know better how we should live our lives than we do. And they are more kind and compassionate and caring than we are, so much so that they must to take our money, because we are so misguided, and give it to idiots by funding misguided social programs that do nothing and as the topping on the cake, take a bundle and keep it for themselves becasue after all, they deserve something for being so magnanamous and caring and so intelectually superior that they had to tell us how to live and spend our money for us.

[Daniel]

Well fucking DUH! With Liberals/Socialists/Marxists it is has ALWAYS been about class warfare. They think they are so smart and know better how we should live our lives than we do. And they are more kind and compassionate and caring than we are, so much so that they must to take our money, because we are so misguided, and give it to idiots by funding misguided social programs that do nothing and as the topping on the cake, take a bundle and keep it for themselves becasue after all, they deserve something for being so magnanamous and caring and so intelectually superior that they had to tell us how to live and spend our money for us.

Damn. Someone has a chip on their shoulder.

It's okay man. If you're republican world view was so much better you'd be in power right now and the country wouldn't be teetering on the brink of ruin. Not everyone is perfect. Get over it.