Tax Fear May Move Bonuses Earlier

[RamboLiberal]

Source: NY Times

Congress is debating tax rates, and that has Wall Street nervously eyeing the calendar.

Worried that lawmakers will allow taxes to rise for the wealthiest Americans beginning next year, financial firms are discussing whether to move up their bonus payouts from next year to this month.

At stake is a portion of the hefty annual payouts that are a familiar part of the compensation culture on Wall Street, as well as a juicy target of popular anger. If Congress does not extend the Bush-era tax cuts for the highest income levels, a typical worker who earns a $1 million bonus would pay $40,000 to $50,000 more in taxes next year than this year, depending on base salary.

Goldman Sachs is one of the companies discussing how to time bonus season, according to three people who have been briefed on the discussions. Pay consultants who work with major Wall Street companies say that just about every other large bank has also considered such a move in recent weeks.



Read more: http://www.nytimes.com/2010/12/06/business/06bonus.html?hp

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Greedy b*stards!!!!!!!!!!!!

[TheWatcher]

1. There is one particular person I wish all of these motherfuckers could spend "quality" time with.

No, I'm Not Kidding.

Yes, they fucking deserve it.

[saigon68]

4. Calling them MOTHER FUCKERS is TOO gentle

They are more than that.

They are Dung Eaters

[Turbineguy]

2. It's kind of bizarre they pay taxes at all.

You're paying people millions to damage the economy and then you tax them? Wouldn't it be simpler to stop them from damaging the economy?

[wilt the stilt]

3. These people make so much money

and they are so greedy. It is beyond me. They are crying over 3%. They never have enough.

[rasputin1952]

5. Grover Norquists wet dream....

:grr:

These people hav ehelped destroy the economy...but mess with their dollars and they get all huff-and-puff...pigs, simply pigs.

[No Elephants]

6. Someone I know applied for a job. He was told no hiring was taking place until the partners

wo owned the business knew whether or not tax cuts would be extended for the over $250K a year folk.

So, on behalf of my 99er friend, thanks a bunch, Dems in Congress, for delaying this from 2006 until after midterms you knew you'd likely lose.

Another point: withholding instructions for calendar 2011 should have been mailed to businesses before this, if taxes were going to change.

[NeoConsSuck]

7. The story is lame

They knew on election night they weren't going to lose their tax cuts.

[No Elephants]

8. Well, you know how risk averse these guys are, when it's their money, not investors' money.

[SOS]

9. "Worried that lawmakers will allow taxes to rise for the wealthiest Americans"

LOL.

They own and operate the Senate. They are not worried in the least.
This is public relations theater designed to create the illusion that the
government has permission to raise their taxes.