It is being reported that Wall St bonuses are up 40% and billions of dollars are being paid out. I can just hear the Schumers and Rangels of the world bemoaning such extravagance.
On the other hand those billions are taxed at the local, state and federal level, they go to charities and they go to buy stuff (after all the BMW dealer has to eat too), yikes they even go into PACs. I know of at least some of it that may go to buy a home.
By Jove this is real economic stimulus and it didn’t even add to the deficit. I calcualted that these payouts will create or save 500,000 jobs (ok, I made that up but I am at least as accurate as the administration don’t you think?).
A year ago we were ready to organize a Walk for Wall Street and now they are helping us out of the recession one new purchase at a time.
They make money the old fashioned way…They earn it!