Anorak News | What the hell’s wrong with Goldman Sachs’ profits going to the workers?

What the hell’s wrong with Goldman Sachs’ profits going to the workers?

by | 18th, January 2013

I DO desperately struggle to understand what it is that people are whining about here

Goldman Sachs was accused of a ‘lack of sensitivity’ last night after handing out average pay and perks of £250,000 – a rise of 5 per cent.

A pot of £8.1billion will be shared among its 32,400 staff – including 6,000 in Britain – after profits soared 70 per cent to £4.7billion last year.

Company makes lots of money. OK, so, who would we like that money to go to?

Deborah Hargreaves, chair of the High Pay Centre, said: ‘Goldman should be applauded for abandoning plans to delay paying bonuses to cut their tax rate.

‘But I’m afraid these huge pay-outs demonstrate greed and lack of sensitivity for the rest of the population further down the income chain which is struggling to make ends meet.

There are only two groups of people it can go to: the people who work for the company or the shareholders who own it.

And it’s a normal enough demand that the workers should get a fair share of the money created by the sweat of their brow. Indeed, the entire structure of Marxism is based on the idea that any profit is an exploitation of the workers. So as profits rise then pay goes up too.

Hell, we all cheer every year when the John Lewis bonuses are announced: what the hell’s so different about Goldman’s?

Posted: 18th, January 2013 | In: Money Comment (1) | TrackBack | Permalink