7DollarHagane
Banned
Think about how little stress those employees have for their own expenses and how dedicated they would be to the company.. Crazy.
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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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John Kowalski
Banned
no excuse to back out of overtime now
Yeah so that means she is going to give less than 100 percent?
GoldenEye 007
Member
Bonuses are taxed at what 25%? That part will suck, but damn nice gesture.
That's the type of stuff that could forever change someone's life.
That's the type of stuff that could forever change someone's life.
BladeoftheImmortal
Member
Great gesture, but I hate the term self-made millionaire.
At the end of the day he just gave back money that they had already earned.
At the end of the day he just gave back money that they had already earned.
Zoe
Member
Depends on how they pay it out. If they tack it onto your paycheck, then it will get taxed as a really large paycheck.
It will all work out to the same when it's time to file your annual taxes.
How many Big Macs can you afford?
Dreams-Visions
Member
great boss.
David Incorporated Esq.
Member
Companies do withholdings at fixed rates for bonuses and the like so they don't have to figure out the unique impact it would have on each and every employee. It works out when everyone files their taxes, either they'll see a big refund or owe a little more, but it works out.
It's strange to see some people here act like this is a drop in the bucket for him. This is a pretty significant chunk of money.
The guy is worth $7b in assets, not cash on hand. That is 1/60th of all of this guy's assets.
It would be a person with $250,00 in assets(not cash) giving away over $4k. It's probably going to be noticeable.
But this was really cool. I imagine those employees are fucking elated.
The guy is worth $7b in assets, not cash on hand. That is 1/60th of all of this guy's assets.
It would be a person with $250,00 in assets(not cash) giving away over $4k. It's probably going to be noticeable.
But this was really cool. I imagine those employees are fucking elated.
DonasaurusRex
Online Ho Champ
wow now thats capitalism actually done right, he will have a loyal workforce happy to come to work getting bonuses like that ..damn.
David Incorporated Esq.
Member
It's actually capitalism done wrong, which is representative of the flaws of loosely regulated capitalism.
PandaShake
Member
put it all on black
DonasaurusRex
Online Ho Champ
what are you even talking about
David Incorporated Esq.
Member
Capitalism done right would be this guy hoarding all the money he could. What this is is basically charity, as the amount given to everyone is wholly independent of their job performance or position.
It's a good thing he's doing, but let's not conflate this with good capitalism.
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.
Pay off debts. That's what I'd do anyway. I'd probably have enough left over to use as a nice down payment on a house.
theepicoftyler
Member
I am going to be incredibly jealous of all of my oil industry friends if this idea sweeps through Houston. I picked the wrong industry to peddle my geology degree in.
ThankYouDaletech
Banned
Another reason to kick my boss in the nuts until he just has a scrotum full of testicle mush.
Polioliolio
Member
Always thought employees should get a bigger piece of the pie. It's not like a minimum wage maker's time is worth THAT much less than people in the top. Doesn't it seem unfair that some of us could work full time for the rest of our lives and make less than some people do in a day?
Wouldn't it be great if a store owner with a few people working for him, rather than give 9 dollars per hour or less, instead gave a fair percentage of profit earnings for what the store had brought in each day, since it would have been impossible to make that without each individual worker..
Anyway, this is amazing. What a giving guy.
Wouldn't it be great if a store owner with a few people working for him, rather than give 9 dollars per hour or less, instead gave a fair percentage of profit earnings for what the store had brought in each day, since it would have been impossible to make that without each individual worker..
Anyway, this is amazing. What a giving guy.
DonasaurusRex
Online Ho Champ
im simply going to say i don't agree , and point out that your claim of how another free enterpriser should engage in his free enterprise, does not follow or suddenly define capitalism. He can pay his employees however he wants with what is his, irrespective of their circumstances. I don't see what disqualifies him as a free market capitalist because he freely chose to do something.
NYR
Member
Cynics are worse than Hitler.
It's actually nothing like that big mac analogy. The guy has billions of dollars remaining.
But anyway it's extremely generous and good on him.
Might be the worst analogy ive ever read
acheron_xl
Member
I wonder what their subcontractors got. I bet their janitor got a nice card and maybe a fruit basket.
Pagusas
Elden Member
Believe it or not, a Big Mac actually would equate to 2% (or more) of some Gaffers total networth. I've seen many threads where people claim to have no more than $50 in their checking, and I have a feeling most people on GAF have a negative networth.
David Incorporated Esq.
Member
Because capitalism is inherently selfish. Look, someone said this was an example of capitalism done right, and I'm saying not really, this is an example of someone doing a good thing for possibly altruistic reasons, but let's not conflate his actions with capitalism because that would imply that this is a natural result from capitalist policies.
I'm about to start a kitchen reno that I expect will cost $80k-$120k, so for me it would be a nice payment towards that.
Byakuya769
Member
I still don't get your point.
If we are to break down capitalism to a basic definition, all it is is private ownership making as much profit as they can.
What this guy does with his profits does not invalidate that.
I can see your point if he was giving money away that was impacting the companies ability to make as much profit as it potentially could.
John Dunbar
correct about everything
100 dollars is a lot of money to someone who only has 1000 dollars. 100 dollars is nothing to someone who has millions. and losing 10% of your money when you do not have very much can be a disaster, but losing 10% when you have billions will not affect your life in any meaningful way. marginal utility and all that.
They're not gonna come out ahead by paying more salary. Yeah, it'll reduce their profits and the taxes they owe, but there's no magical way to make money just by increasing expenses.
The marginal utility of 2% of his net worth is a lot less for him than most other people. Of course I don't agree that it's a drop in a bucket for him, but he's not really making any sacrifices in quality of life to be this generous.
Net worth is not the same as cash in hand.
PlayALLtheGames
Banned
I guess depends on the charity but how did you come to that conclusion? These are people with jobs at a very generous company. Charities typically work with people who, well, don't have jobs at very generous companies.
John Dunbar
correct about everything
and if your networth it measured in billions it won't make a damn bit of a difference.
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