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09-April-05, 03:05 PM
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| News Hound  Join Date: Aug 2004 Location: Floating among Data streams, waiting for the right moment
Posts: 44,023
  |  Slashdot // Google Founders Cut Salaries to $1 GeneralCern writes "MSNBC Reports that Google founders Larry Page and Sergey Brin, and CEO Eric Schmidt all slashed their salaries to $1 last year. Since you do not have to pay FICA, Medicare, or income taxes on the capital gains associated with stock sales, they stand to substantially decrease their tax burden. Is this a breech of the company's "do no evil" mission statement, or just an example of people who love their jobs so much they don't need to be paid to go to work?" Update: 04/09 13:11 GMT by H:And don't trust the above tax lines; it all depends on how sales are done; moreover when you are worth X amount with stock, I suspect the "tax burden" of what is, relatively speaking, a salary that's small compared to networth isn't a substantial impact. Sorry folks; poor story. http://slashdot.org/article.pl?sid=0...21257&from=rss |
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