Sunday, March 29, 2009

Yet Another Wall Street Tax

Yet another attempt to kill off the talent on Wall Street .... and this one isn't limited to banks who accepted TARP.

http://www.nytimes.com/2009/03/29/nyregion/29tax.html

New York's temporary 3-year tax kicks in for people earning over $300,000, with the highest rate imposed on people earning $500,000.

I am watching an entire industry being decimated in slow motion .... much like the melting glaciers due to global warming.


©2009 Marc Adler - All Rights Reserved.
All opinions here are personal, and have no relation to my employer.

3 comments:

Fumier said...

What talent? :)

marc said...

Yes, I often wonder about that too ...

Tim Bass said...

I agree.... what talent?

I don't see Wall Street and the banking sector with great talent.

The "talent" is in the IT sector. Wall Street simply throws money at problems.

Reducing salaries is a good idea. Everyone one I talk to agrees. Bonuses are outrageous compared to other sectors. Risk taking and brash behavior with others money is rewarded.

Look where we are now.

Let's get real.....