61–70 of 76 posts
How about a $500K salary cap for presidents of universities that accept federal grants and loan subsidies? Heh heh.
Earlier quoted context omitted.
The 500k limit is only on executives of banks that receive future extraordinary assistance from the government--the execs are free to find jobs elsewhere if they don't want the restrictions. The banks are free to not take the assistance if they can maintain a healthy capital level without it. With fractional-reserve banking that is the condition they implicitly agreed to in exchange for the ability to conjure money f…
You say that as if the right to operate a fractional reserve bank is granted by the government. Without a government, fractional reserve banking would still happen, and people would put their money in banks that had good reputations. I find the aversion to fractional reserve banking that is frequently displayed on the internet quite odd.
This is true, but fractional reserve banking is inherently unstable: bank runs happen, and will happen (eventually) to any bank without government guarantees.
What is a co-op maintenance fee and why does it equal the mortgage payment? (sorry, I'm from Oregon, never heard of a 96k co-op)
A co-op is (usually) a non-profit that owns an operates a building. When you buy a co-op apartment you effectively buy a share(s) in the co-op which entitles you to occupy a particular apartment. As a shareholder in the co-op you are required to pay maintenance to cover your share of the operating costs of the building: energy and utilities, maintenance, doorman etc. Some co-ops also generate revenue from flip taxes.…
I have a share in the freehold of my flat in the UK, my maintenance comes in at £480 per annum, this includes buildings insurance, cleaning, heating and general building maintenance.
Thats pretty damn steep over there!
Earlier quoted context omitted.
If you factor in the cost of transportation and protection (not to mention the rent on a swanky, DC-area mansion), the President is pretty high: http://dealbreaker.com/2009/01/no-more-than-the-president-of...
The edit button is gone, so I feel bad about this. The President is pretty high ly paid . According to his book, he hasn't be getting high since his 20's.
Leave him be, please.
Earlier quoted context omitted.
Agreed, though the article specifically said "salary", so I gave them the benefit of the doubt there ;)
It did, I'm just assuming Obama was including incentive based compensation or otherwise it's just too trivial to game.
Earlier quoted context omitted.
to be honest, i think minimum "comfortable" wage in SF is about 200k. i make in the 6figs (as most senior engineers around here), and why I live comfortably as bachelor, I still don't think I make enough for me to afford having a family in SF. I rent and have a roomate, cook often at home (drink lot of coffee though), but still, when you substract taxes, 401k, medical stuff for the parents, when you add everything up…
It seems to me that the problem isn't so much that you're "not saving much for your future" as you're "not saving enough to buy a comfortable house located in San Fransisco". Which might be indicative of a problem in one's expectations more than indicative of the necessity to make six figures as a bachelor. (Incidentally, in many other places, socking away $2k a month would be considered pretty damn good. The startin…
That was one of the major reasons why I became so critical of just being employed and "working for the man". I just didn't feel like I would ever be able to escape the rat race.
Earlier quoted context omitted.
It did, I'm just assuming Obama was including incentive based compensation or otherwise it's just too trivial to game.
Actually he is fine with incentive based compensation, but the government needs to be paid back before they can collect the incentive's. What he is trying to avoid is news story's where the government lost money and the bankers got million+ dollar compensation.
All they have to do is get jobs at profitable companies.
The total costs here... are $790,750, which would require about a $1.6-million salary to compensate for taxes. Wait a second, 50% taxes? Not the marginal rate, the effective total rate? That is truly gobsmacking if it is accurate. I did a little math, too, and it doesn't seem impossible, particularly if you're actually spending most of that money (and thus hitting the 8%+ NYC consumption tax). 35% federal bracket, 7%…
Only stupid people making that much money pay anywhere near that much in taxes. Get an interest only mortgage and suddenly your rent is "tax free". Also options can be counted as capital gains which is 15% etc. There are a lot of tricks you can play with that level of income. Consumption taxes only apply to a smaller subset of spending because so much of your money is spent on services and out of state. PS: The worst…
The mortgage interest deduction only applies to the first $1M of the loan.
And, the mortgage interest deduction goes away under AMT.
As I was going through the list I still don't feel any sympathy for these bankers. The whole idea of budgeting for the majority of people is to make do with seemingly limited resources. It's what everyone does to manage their own money. Why can't someone who is supposed to manage everyones money practice a little self restraint?
I don't think the article was trying to make you feel sympathy; I think it was playing with subtext.
E.g., there was a cover story in the NYT Magazine a few months back about surrogate motherhood, by a woman who was married to an investment banker, and not only dropped $25K to have another woman gestate her baby but hired a nanny--excuse me, a "baby nurse"--to care for the kid. Not that there's anything wrong with either one, but I'd be embarrassed to have my face in the foreground of this picture:
http://graphics8.nytimes.com/images/2008/11/30/magazine/30su...
