I just read where Wall Street bonuses would increase 5 to 10 percent over last year. During the first nine months, big banks set aside $91.44 billion for 2013 bonuses. Many executives will receive from $100,000 to more than $1,000,000 each. I think this is unfair. This does not included that deferred stock options. That amount will be many times greater than these numbers.
We should blow up Holiday bonuses!
See, when I was a kid. My Dad used to give every employee that worked for him - regardless of their position - one hundred dollars. On that day, everyone was equal. No one persons job mattered more than another.
When we could afford it, it was a tradition that I carried on for many years with my business. Vice Presidents got the same amount at telemarketers. And they got the same as those in shipping. It was a fun day. A human day. A day in which we are all just people. Not scaled in some economic or job position sort of way. Equal.
The bonus program of investment banks and hedge fund is wrong. Here is how it works. So we the people - the government - sets up a program to buy bonds, to keep interest rates low. So banks can borrow at zero interest and fund the operations and investments of many of the hedge funds. They earn killer returns. The stock market surges. Leaders get paid huge amounts as their company stock soars. Then they lobby and give cash to politicians who help rig the game in their favor.
The game is fixed. It is not right. It is not fair.
Income inequality is a huge problem.
It is a drag on people. It is a drag on the economy.
It will get worse.
It will lead to more unrest in society.
I believe hole heartedly that inventive people, and risk takers, that are successful should be highly rewarded. That is the way it has to be. The creators and innovators make the world a better place. I'll repeat that. True risk takers, that win, should be rewarded.
I take risks.
I blow things up for a living.
Sometimes people find my risks innovative and rewarding.
Today I am going to give $100 to everyone at The Blast Factory.