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Google Execs Happy With $1 Salaries
DarkClown writes "ZDNet is on the one hand reporting that Google execs will keep their $1 salaries again this year, and on the other hand is reporting that the executives cashed in more than $160 million worth of stock last month." From the stock article: "Since the search giant went public in August 2004, Brin has sold about 6.5 million shares at a market value of $1.68 billion. Page has sold about 5.8 million shares at a market value of $1.4 billion, according to calculations from Thomson Financial. Chief Executive Eric Schmidt, who was brought in to run the company before it went public, has sold more than 2.1 million shares, worth more than $502 million." They could be getting a multi-million dollar salary *and* the stock money. Good faith efforts go a long way in my book.
1$ salaries are great, they cost your business very little and you don't have to pay any kind of taxes on them. I'm surprised all high level executives don't opt for similar salaries.
~= scwizard =~
"But can we really say it's some amazing piece of good faith that they settled ONLY for 1.4 billion dollars in salary for the year?"
If I had mod points I'd mod you flamebait on this one.
They took one dollar for salary, not $1.4B. Their compensation was large, yes, but it was not a salary. If Google had tanked they would have made far less. What they've effectively done is told their employees: We care about the company because if it makes no money nor will we.
-nB
whois gawk date unzip strip find touch finger mount join nice man top fsck grep eject more yes exit umount sleep dump
But $160 million in stock options? $1.68 billion in 2 years? Damn! Do you know how much rice and grain you could buy for starving people?
Let Darwin take care of this. The people who are weak and unable to sustain themselves will die off. The strong and capable will survive and benefit
Feeding millions of starving people who are incapable of sustaining themselves will do nothing for these people and only promote the survival of a weaker group of people. This is anti-evolution.
So the point is that even people not making a lot of money are still paying a higher tax rate because of the manner in which they made their money. And lo and behold, those who make money through capital gains- which the wealthy are more likely to- pay a lower tax rate.
Who cares? If they received 1.68 billion in stock and paid 15% capital gains on that, their tax bill for this year alone would be $252 MILLION.
Are you really going to try and pretend like they aren't contributing enough because their PERCENTAGE is lower than yours?
Sweet jesus, give me a fucking break!
Let's switch to the FairTax, and then you guys can complain that they are keeping a higher percentage of their income compared to you, even though they are spending (and thus being taxed) a hell of a lot more.
By all means, please continue to be sucked into class warfare. The politicians love that shit.
Ironically, the word ironically is often used incorrectly.
Wrong. It is the largest and most successful scam possibly in the entire history of the world. I never much liked Al Gore, but remember his "lock box" plan? That's what it should have been but never was from the start. Now they are talking about high-paid individuals "indexing out" of social security because the system is broke after half a century of mismanagement. That means that if you are well paid, they will exact this tax of you under pain of imprisonment, promising you that it is being put in a savings account for you to draw from once you retire since you can't possibly be trusted to take care of your own retirement, and then when you retire, they will tell you, "Well, you made so much while you worked, we just assumed you would take care of your own retirement, so we spent it all." Don't count on Social Security. The exact same scheme would have landed everybody from Roosevelt on down in prison if they were private actors.
Today's Sesame Street was brought to you by the number e.
Oh noo.... couldn't do that, Belgium is where it all started in Antwerp in 1460, the first stock exchange was started there... to benefit evil big business, as well as all those too lazy to work for their money.