Tag: Goldman Sachs

As Corporations Plead For Taxpayer Bailouts, Goldman Sachs Gives CEO 20% Pay Bounce

Goldman Sachs gave CEO David Solomon a 20% raise to a head-spinning  $27.5 million in assets and cash for his work last year, the company revealed.

The news comes as the Trump administration weighs massive industry bailouts amid the coronavirus crisis — and triggers memories of the Wall Street bailout, which included $10 billion for Goldman Sachs.

Solomon’s compensation for 2019 includes $2 million in salary, more than $15 million in stock and a $7.7 million cash bonus, the company reported Friday. Continue reading.

Trump’s Problematic Math: Budget Plan Adds Growth, but Doesn’t Subtract Cost

The following article by Binyamin Applebaum was posted on the New York Times website May 23, 2017:

Eric Ueland, right, a Senate Budget Committee staff member, distributing the 2018 federal budget proposal on Capitol Hill on Tuesday. Credit Doug Mills/The New York Times

WASHINGTON — President Trump’s budget proposal, unveiled on Tuesday, purported to show the benefits of cutting taxes on businesses and consumers: By the end of the decade, faster growth could balance the federal budget.

The numbers looked great because the White House left out something essential: the cost.

When the government cuts taxes, it collects less money. That is the purpose of a tax cut. But Mr. Trump’s budget does not include any hint of a decrease in federal revenue. To the contrary, it projects that federal tax revenue will increase every year for the next decade. Continue reading “Trump’s Problematic Math: Budget Plan Adds Growth, but Doesn’t Subtract Cost”