Site for Free Markets and Free People

Friday, December 19, 2008

Government Loses Out From Bonus Reductions

The government is finding out once again that there are always unintended consequences to their actions. When government officials were vilifying Wall Street executives who made big bonuses and praised the decision to force companies to eliminate them, they probably didn't realize how it would impact government revenue. The elimination of bonuses for just six Goldman Sachs execs will result in a $178 million revenue reduction for the state of New York.