As I scrutinize my gas bill and finally decide that yes, that’s just one month’s bill and they did in fact receive my last payment, this story on the New York Times makes me more than just a little sick. It’s a bit on how these financial executives won’t be able to maintain their current “standard of living” if President Obama’s plan to limit executive pay goes through. The plan is a good start at breaking a corporate culture that sees incredible pay and bonuses regardless of performance. Of course the plan would only apply to companies that seek government assistance, but it’s a start.
Imagine for a minute that your expenses added up like this:
PRIVATE school: $32,000 a year per student.
Mortgage: $96,000 a year.
Co-op maintenance fee: $96,000 a year.
Nanny: $45,000 a year.
We are already at $269,000, and we haven’t even gotten to taxes yet.
To say that this is ridiculous is an understatement, it’s like winning the lottery every year, and thinking you deserve it. Incredible. Here’s hoping these guys hurt at least a little, although their perspectives are so warped it’s hard to imagine any real hardship from “scraping” by on $500 grand a year.