A Goldman-Sachs Golden Sack

Why would anyone with a high-end sweet job at Goldman-Sachs want to give it up and go to work for the federal government? Well, one answer is pure economics.

People who have a penthouse office with a corner window at places like Goldman-Sachs are partly compensated with stock or shares of the company. If/when they sell these shares they have to pay taxes.

But, if they take an executive job with the government they get to sell those stocks and keep the proceeds, tax-free. The government essentially hands them a tax-free bag of gold.

Donald Trump has now reached out to at least two such people and that number will most likely grow.

This is yet one more way the very rich get richer at our expense. Keep this in mind next time you cash in a CD or a tax-sheltered annuity and you get a tax bill along with the funds.

Leave a Reply