No surprise there
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This has to stop. Seriously. This is a huge cancer in our society
It’s called capitalism, and yes, it has to stop.
The top tax bracket used to be 92%…
Like, after a certain point for ever $100 you were paid, the government took $92 and left you with $8 and your other deductions.
It’s honestly that easy to change, just bring back the same tax brackets we had under Eisenhower and we’d pretty much fix the income gap immediately. Or at least we’d have plenty of tax revenue to fix shit and provide safety nets.
It’s insane like we act like we can’t figure out a solution, when we already had one 60 years ago…
Sadly, not that easy, since “income” no longer accounts for the huge wealth gap. Until stocks and assets are counted and taxed appropriately, the top 0.1% will remain just as wealthy.
It might work on parts of the 1% to 0.1%, though.
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It’s crazy that income tax goes up as you earn more, meanwhile capital gains tax goes down as you gain access to more loopholes.
That’s because the whole system is about as crooked as the stock market
cough cough tax capital gains as income cough
As someone who makes most of their money through capital gains, I’m in favor of taxing them more.
This IS our society.
The entire thing needs to be burned to the ground and started fresh. We need to close the stock market as well, it only harms literally everyone that isn’t in the Investor class of humans. Figure out Capital a different way if need be, but the way we’re doing it is literally killing all of us, and the vast majority of species on the planet currently.
I don’t agree that “burn it all down” is the right solution, especially if we’re hypothetically in agreement that the end goal is the maximization of happiness for the highest number of people. Going through that transition will be worse than what we have now for most, and there’s no guarantee that a more equitable society is built in the ashes of this one.
It has always been this way for thousands of years. Democracy changed the rules a bit, but it’s always been a battle between the meek and poor vs rich and powerful.
Well, isn’t that why layoffs actually happen? To save a bit of extra millions for those poor poor and broke CEOs?
Do you know how much it costs to fly private these days? It’s unconscionable. Imagine their pain.
How does that meme go? Pain relief: tiny brain, aspirin. Regular brain, Tylenol. Giant brain, oxycodone. Galaxy brain, $1 million bonus.
As is tradition
Disgusting. These executives shouldn’t be able to collect any bonus once they have a bankruptcy filing. This is about as ugly as capitalism gets.
But who else will make a PowerPoint about how much work they don’t do?
I won’t do it.
You think they make those slides themselves?
I used to work for an ad agency as a receptionist. Guess who had to make all the powerpoint demonstrations for the sales staff?
unpaid intern?
Sadly no, me, between answering phone calls and emails. And heaven forbid I was too busy on a phone call to get it done in time.
As it should be. I mean, if a lowly regular person is handling as much responsibility as you were, just think about the herculean tasks that the C-level execs had to deal with! They were probably fighting dragons and shit. /s
Hello there, Pam! How’s Jim?
I’m just aware of The Office enough to know that’s a reference, but too uncool to know more than that.
¯(ツ)/¯
Hey now! As the headline says, the layoffs were painful. Those execs deserve some compensation for all their pain!
Yes, won’t somebody please think of the poor execs? Can you imagine only being able to afford one yacht? That’s practically living in poverty!
There is a real issue of good leadership not being willing to join sinking ships. How do you motivate people to join that have the best chance of turning things around without some type of compensation? Why would they join?
This is essentially the situations that creates this. In a non capitalist system there is nothing that can be done and you either force someone to do it or you attract worse leadership and things snowball.
Thanks for explaining, I hadn’t thought of that.
But why don’t lower level workers get similar perks in return for joining a sinking ship? And clearly, the leadership failed to turn the ship around in this case, so how do we know they were even good to begin with?
Business as usual. All the execs get golden parachutes and will probably have another high paying job lined up right after. Welcome to the machine.
Oh I see you ran this company into the ground. Made terrible decisions, laid off most of the staff, collected a 5 million dollar bonus, then filed bankruptcy. You want to come run our company? We’ll pay you 8 million a year and give you 15 million if/when you destroy our company just like you did to the last one!
I’m getting to the point where I’m going to take “Eat The Rich” literally
… with a nice chianti and fava beans.
and corrupt politicians for desert
I saw a documentary about a serial killer that called his victims “long pigs.” I guess in this case you’d be eating pork from actual pigs.
“Long pig” was how cannibalistic Pacific islanders referred to humans they ate. Serial killers are basically just reposters.
It worked for Holland in the 17th century.
Why do they always do it within a few days after layoffs? Like guys, wait for a few months at least
It is likely negotiated into their contracts when they sign.
Because they think they deserve it after having to make the tough decisions
Most these guys get paid in stock options.
They likely request it to be timed this way to get more shares of the company off the back of the bad news dump.
It’s like insider trading but on the buy side soo not as likely to be investigated.
Because the company was about to go bankrupt, so they had to get it while the gettin was good.
I’m surprised they don’t do it the same day, who’s gonna stop them?
