Got my 1099-misc from the DEL today for all childcare payments made to me through the State of Washington in 2008. Noticed a box for excess golden parachute payments.
Now there's a good idea.
Don't you think we should all get golden parachutes? Exorbitant payments made to us when employers change and we become unemployed through no fault of our own?
Although . . .
Aren't all those CEO's supposed to keep the company so healthy that there is no need for hostile takeovers and such?
Isn't that what a CEO does? Wait–I'll wikipedia the term–okay, yeah, pretty much:
"Proponents of golden parachutes argue that they provide three main benefits:
- Golden parachutes make it easier to hire and retain executives. . .
- They help an executive to remain objective about the company during the takeover process.
- They dissuade takeover attempts by increasing the cost of a takeover, often part of a poison pill strategy."
Okay, so 1. apparently being CEO is such a dirty occupation they have to bribe people to take the job. 2. Wouldn't guaranteeing a man millions of dollars if the company is taken over a surefire way to make a man think seriously about working toward that very end? 3. Bull.
My personal take on a topic I know nothing about.
But hey, somebody offer me a golden parachute, why don't they? I'll even pay the 20% excise tax on the excess amount without complaining.