I liked this comment in the FT this morning on delaying bankers' bonuses to avoid tax:
In a normal tax year, if an income tax rate was about to change like this, experts would expect any company worth its salt to tweak its bonus payout dates. Not even the taxman would raise an eyebrow.
But this isn't any normal tax year
Too true.
But they go on to say they're not sure Goldman Sachs has noticed yet.
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Interesting too that even now and still, the FT writer regards cheating the community of its dues as the “normal” expectation of any comapny “worth its salt”.
It’s the FT isn’t it? The City and its environs are its home turf, it speaks their language.
Indeed, Bill. I meant to be understood as remarking the shameless boldness of the capitalist default, position – ‘of course I normally screw the society I live in, it’s what I do for a living’. Sorry, Richard, I know you like to acknowledge the exceptions, but our problem is the incoming howitzer fire, not the peashooters. And the real point of the FT article and Richard’s noting of it is – no, a ducking-and-diving calculated temporary response to ‘an exceptional year’ (implication, this will all blow over) don’t cut the mustard, not at all, just doesn’t get it, not at all.