Google Founders Cut Salaries to $1

GeneralCern writes "MSNBC Reports that Google founders Larry Page and Sergey Brin, and CEO Eric Schmidt all slashed their salaries to $1 last year. Since you do not have to pay FICA, Medicare, or income taxes on the capital gains associated with stock sales, they stand to substantially decrease their tax burden. Is this a breach of the company's "do no evil" mission statement, or just an example of people who love their jobs so much they don't need to be paid to go to work?" Update: 04/09 13:11 GMT by H :And don't trust the above tax lines; it all depends on how sales are done; moreover when you are worth X amount with stock, I suspect the "tax burden" of what is, relatively speaking, a salary that's small compared to networth isn't a substantial impact. Sorry folks; poor story.

Comments

Re:Minimum wage?

[ColMustard]

I don't have a solution to a nonsensical problem that only exists in your mind. The minimum wage is for high school kids who want to work for a little spending cash but are otherwise still supported. If anyone is in college or above and still on minimum wage than they have real problems.

Those 'homeless' you are talking about are not where they are because their minimum wage isn't/wasn't enough. They're there because they simply don't want to work at all. Period. There are thousands of grants, scholarships, free money, etc. available if they wanted to get a degree and be useful, but they don't want to, and it's as simple as that.