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A self-made billionaire in Texas just gave EACH of his 1,381 employees a $100,000

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H

Hazmat

Member
I don't mean to brag, but my company is buying us lunch tomorrow.

That's an awesome move from the boss. I'm going to go think about what I'd do with 100 grand.
 
C

cr_blah_blah

Member
That's so much more kind than the usual "in this economy, you're lucky to even have a job" speech I've heard from bosses the past decade.
 
G

GaimeGuy

Volunteer Deputy Campaign Director, Obama for America '16
Kieli said:
It's a legitimate issue. It may place these individuals at a higher tax bracket, in which case the pay that they end up taking home may be less than if they were at the lower tax bracket.
Click to expand...

If we have two tax brackerts:

A: 0-$50,000: 25%

and B: $50,000+: 50%


If you make $100K, you pay $37.5K in taxes. You pay 25% on the first 50K, and then 50% on the second 50k.

You do not pay 50% on the entire $100K. The first dollar you earn is taxed at the same rate as the first dollar bill gates earns. The millionth dollar I earn is taxed at the same rate as the millionth dollar LeBron James earns (assuming it is in the same location). It's just that LeBron James earns that, and I don't, so I don't pay taxes on that money, but he does.

The only way you lose money by earning more money is with a tax bracket over 100%
 
G

GiantEnemyGoomba

Member
Machina said:
Trickle down economics anyone? Isn't this basically what that is? So why doesn't it happen more often?
Click to expand...

Because a lot of big business CEOs are jerks unlike this guy. Others would simply think they are entitled to every bit they've earned instead of completely changing the lives of their employees in exchange for being worth $6.9B instead of $7B.
 
R

roknin

Member
Chie Satonaka said:
I don't even know what I would do with 100k right now.

A new car is a given... Maybe a nice vacation? And then put the rest in the bank?

I'm sure the holidays got a lot better for all those people. :)
Click to expand...

Well, I know exactly what I'd do.

Pay off these damn student loans lol
 
M

MIMIC

Banned
Meh. I rescued seven handicapped orphans from a burning building!

lol, but seriously....that's incredible. What an awesome gesture.
 
M

Meciu

Member
And all I got was a 50$ worth pre-paid card, damn! Well, while it's nowhere close to a 100K Christmas bonus, it's still something :D
 
godhandiscen

godhandiscen

There are millions of whiny 5-year olds on Earth, and I AM THEIR KING.
To everybody posting negative or skeptic comments, it is really that attitude that's fucking you up.

Good for the dude and his employees.
 
P

pezley

Banned
Someone mentioned this is a drop in the ocean to him and it's like us buying a homeless man a bigmac.,.. how many of us have even done that ?

Absolutely class act by the owner of the company and has probably changed these peoples lives. It's also an investment for him because those staff will probably never need to find another job and be loyal to that business. Everybody wins
 
H

Hoo-doo

Banned
You bet people are going to be productive over there, even the janitor over there is probably hand-polishing every doorknob to a mirror sheen. This is a company worth working for.
 
D

DistortionOfReality

Member
Samarecarm said:
No, because the higher tax bracket only applies to the income that falls within that bracket.
Click to expand...

I don't get why so few people understand this. Otherwise there would be millions of people sitting just under the tax bracket and refusing pay rises. An increase is still an increase, it just gets less pronounced the more you earn.
 
O

OrlanisWorks

Banned
Machina said:
Trickle down economics anyone? Isn't this basically what that is? So why doesn't it happen more often?
Click to expand...

If trickle down economics was a real thing, our general economic situation would be very different.

Generous thing for a CEO to do. Managed a small break from typical sociopathic behavior a big boss man.
 
J

Javaman

Member
I work at a major manufacturer worth 20 some billion and they give us all $20 Walmart gift cards every year for a xmas bonus.

:eek:P
 
K

kitch9

Banned
Apath said:
It's about 2% of the guy's net worth. That is in no way a "drop in the bucket," and is like buying a Big Mac if you can only afford 50 of them.
Click to expand...

Not quite my friend.

The dude can still buy billions of Bic Macs, not just 50.
 
T

True Savior

Member
Dear sir,

If you read GAF paypal me 50000$ (or the whole 100000). I don't work for you but I would gladly accept it and tell my story on facebook.

Kind regards
Your True Savior
 
F

FaceTurn

Member
"It's just a true gift, and I don't think that myself, along with everyone, is not going to give less than 100 percent every day," receptionist Amanda Thompson told the news station.
Click to expand...

This sentence is freaking me out. So is she going to slack off now?
 
C

Crispy75

Member
I lazily slapped this together from a graph I found on google image search, so don't go quoting it as a Verified Source or anything, but:

QCzHOpH.png


That distribution is so many shades of fucked up.
 
Zoe

Zoe

Member
Payroll will take care of their taxes. The previous bonus with the car would have been different though.

Blastoise said:
Texas doesn't have income tax?

How does that work? Shit I might move there in the future.
Click to expand...
Higher property taxes.
 
F

Friggz

Member
THis is the same company that back In 2011 every employee received a voucher for $50,000 to buy a new car, or $35,000 cash.
 
S

Setsuna

Member
Heshinsi said:
It's a drop in the bucket for him. That would be like you and I buying a big mac for a homeless guy. But this is the sort of goodwill gesture billionaire CEOs should do. $115,000,000 out of his $7B net worth barely even registers, but man does that extra $100,000 mean so much for his employees.
Click to expand...

7 billion in assetts does not equate to 115 million being a drop in the bucket
 
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