Bankers bonuses

The hot subject of this week was the size of bankers bonuses and the decision of the Chancellor to tax the bonuses above £25k. The more I listen to those discussions the angrier it makes me because I think that all over the world the wedge is being driven between the rich and the poor. Today, watching Question Time on BBC1 I have had enough, after hearing Piers Morgan lambast the ’fat cat’ bankers and their indecent use of the public funds that was given to bail them out.

I think distinctions need to be made. First of all, not all banks were bailed out. I completely agree that the banks that were bailed out by the public have no right to even think about any bonuses until the public funds get repaid. Will they ever is the question no one is prepared to answer at the moment.

Secondly, why is everyone talking badly about bankers in general? Like with people, there are some bad but also very decent ones. Many of those so-called ‘fat cats’ work obscene hours, travel all over the world on business, while their wives and kids stay at home. If anything they make their kids fall ill more often, as they collect bugs during their travel-why doesn’t anyone consider that? They don’t have any benefits or support from the government, they pay a huge proportion of their salaries in taxes and often those hard earned funds get wasted on teenagers who get pregnant recklessly at a very young age or people who claim benefits and have no desire to get off the sofa and try to find work or learn new skills.

The government often misuses the funds collected from taxes on disasters like the Millennium Dome or bureaucrats’ salaries. Do people who pay their taxes even know how those funds are getting spent? It is ok for footballers to earn obscene salaries or for celebrities to earn money by endorsing products or TV appearances and no one proposes to tax their extra income-why? How are bankers who work in non-bailed banks and who haven’t taken any money from the public are different from footballers or celebrities? It is just so easy to use them as scapegoats instead of addressing the government’s inadequacies. Many rich people had to work hard for many years in order to get where they are, this fact is not voiced often enough. Until we learn to be responsible for our mistakes, instead of blaming someone else for our inadequacies we are not going to live in a just and productive society.

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