“1. Bring annual salary compensation below $250k maximum”
2. Goldman makes interim loans to employees guaranteed against expected bonus for cash flow needs of key producers
3. Unlimited bonus and no 90% bonus tax since tax applies only to those employees making $250k+.”
This is incorrect hogwash.
1: If the spouse has even $1 worth of any income (or WS worker has some other income, as most do), that would be subject to 90% tax.
3: No, anybody who has family (married filing jointly) income more than 250k after bonuses will be hit.
For example, say, a Wall Street mid-level IT manager makes $150k and spouse makes $100k. If the IT manager (or spouse) gets $15k bonus, it will be taxed at 90% (actually more because of state taxes).
Making loans is irrelevant. If it is forgiven, it is income.
Here’s the text of the law. You make some good points.
http://www.businessinsider.com/full-text-of-the-90-bonus-tax-bill-2009-3