Bonuses are expected to generate $1.6 billion in tax revenues for New York state and another $500 million for New York City. For every job created on Wall Street, three other jobs are created in the city and suburbs.
"Wall Street jobs create jobs," said Ken Bleiwas, deputy comptroller. "Why? Because they are pumping money into the economy. They're going out to restaurants, they are purchasing all kinds of consumer goods."
Nothing New Here -- And That's the Point In California, 10 Friends Eschew Consumer Culture to Live Secondhand
Attention holiday shoppers! These people haven't bought anything new in 352 days -- and counting. These 10 friends vowed last year not to purchase a single new thing in 2006 -- except food, the bare necessities for health and safety (toilet paper, brake fluid) and, thankfully, underwear, and maybe socks (they're still debating whether new socks are okay).