10:42 am December 6, 2010, by Jay
My favorite sentence of the day comes from a New York Times article reporting that Goldman Sachs and other Wall Street firms may move up their bonus payments from early in 2011 to late in 2010. You see, they don’t want to risk that the Bush tax cuts for the wealthy somehow won’t be renewed.
Here’s the sentence in question:
“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.”
“… a typical worker who earns a $1 million bonus…”
Those additional taxes saved by that “typical worker” would cover unemployment benefits for a year for three Americans left jobless in the wake of the fiscal crisis, a crisis created in large part because of Wall Street greed and carelessness, a crisis eased considerably because the U.S. taxpayer and the Federal Reserve lent Wall Street firms hundreds of billions of dollars at considerable risk.
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