March 15, 2010

Double Whammy

You know, when I read articles like these I get more then a little upset. The same people that were responsible for the credit crisis go happily on their merry way and collect bonuses like they are starving for money. Taxing the hell out of such people sounds like a fine idea to me. Lets not forget that often these were the same people that needed bailout money from their respected governments, and now when things are rolling again it's back to groping as usual. It's just staggering to see how much bonuses are given to the top executives of the banks and going down to middle management.

But what do the top-earners actually do with their money? Ever given that some thought? Sure, they buy a big house with a couple of sport cars in the garage. Maybe a new set of breasts for their wife, a boat and second home. Maybe something for the mistress, and so on. Yet they still have a ton of cash to spare. Do you think they give all that money away to charity? Nope. Maybe something that helps with the tax return. Think again. They invest that spare money most likely in stocks, precious metals and property.

Who do you think has the most stocks and are the biggest shareholders of companies? Your average blue collar worker 'Joe Six-packs' or the $2000 suit wearing 'Mr Big's?' Of course the latter is the type of person that holds the most stocks. What else are they going to do with their money? Give it to you? The rich hold the most stocks and the rich are the bonus receivers. Not only do they get the most income, they also hold the most stock. This is a double whammy if you ask me. When you work for a major corporation you're not just working for yourself, you're working to make other people richer then you.

And this is the world we live in. Once you develop eyes that can see you'll notice the pyramid structure of our 'modern' society and where the rules work just a little better for the upperclass. You do realize who makes the rules, don't you?

In my country 2 ministers quit their jobs last week. They wanted to spend more time with their families. The politicians over here have a funny sort of arrangement when they quit their jobs; it's called "wait-money." Basically what that means is that their income is guaranteed for the next 6 years. The first year they get 80% of their previous income and the second year 70% (for 5 more years). Their income as politicians was 140.000 Euros a year. Should they find a new job which pays less, then the government pays the shortage to the level of their 'normal' income (as a politician). And as a final insult; they are not obligated to apply for a new job...
You know what the normal employee gets when they quit their job? Nothing. You can apply for welfare but if you have some money on the bank or you have property, you can use that up first. When you get laid off (without your fault) there's an arrangement. You get (from the state) 70% of your previous income for a maximum of 3 years (and there's also a maximum income of 186 Euros [without tax] a day. Plus you have to apply for a job once a week or you'll get fined on your benefit or lose it entirely. Isn't this a marvelous example of double standards?

Take a hard look at the world you live in.

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