Thursday, February 09, 2006

A Most Repugnant Thought

Oliver Stone directed the movie "Wall Street" in 1987 starring Michael Douglas as Gordon Gekko, a corporate raider. Gekko gave a speech in the movie to stockholders which came to be known as the "Greed is Good" speech. Here is what Gekko said as he walked the auditorium aisle among a large gathering of shareholders: "The point is, ladies and gentlemen: Greed, for the lack of a better word, is good. Greed works, greed is right. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed in all its forms, greed for life, money, love, knowledge has marked the upward surge in mankind--and greed, you mark my words--will save not only Teldar Paper but that other malfunctioning corporation called USA."

A couple weeks ago I read an article in Slate Magazine by Daniel Engber titled "Can Someone Else Pay Your Taxes?" The article was about Richard Hatch, the first "Survivor" winner, who was found guilty in court for not paying taxes on his million dollar winnings. Hatch's defense was that he thought the show's producers had paid the taxes. The article went on to report that "Yes. It's not uncommon for corporations to pay taxes on behalf of their high-level executives." This, to me, is repugnant. I don't know what these people are thinking. They live in a country with a system that enables them to achieve their status, yet, some don't support the system by paying their own taxes. I read in yesterday's newspaper that Wallace D. Malone Jr., Vice Chairman Wachovia Bank, is retiring and the company will pay tens of millions of dollars to cover his tax bill on top of the multi-millions he will take with him. Apparently, people like this believe like Gordon Gekko, greed is good. I think these people are disgusting and I'm happy I don't know them!

Have a good day!

1 Comments:

At 2/09/2006 1:03 PM, Blogger t browder said...

Mike,
To be honest, I have often wondered whether the average hourly worker often held this view even about folks like you and me.Let's hope it was quite a bit different!

 

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