A lot of people are rediscovering Eisenhower these days. That is, the top marginal tax rates from FDR to LBJ were more than 90%. Something they didn't exactly teach in my high school history class (or, apparently, the high school classes of the 'teabaggers').

The fact is, though, darned few people made income up to the rates that got them up to 90% marginal-dollar taxes. With those kind of rates, the optimal strategy for an executive was to build a nice, boring, stable, long-lasting company that would pay you a nice high-six-figure (in present terms) corner-office golf-playing salary long into your dotage.

Today? Your marginal tax is pretty much always the same if you're in the boardroom. So it doesn't matter if you get it on one year or 50. Your best bet, then? Bird in the hand, baby. Cash today. Throw all the chips on red. Goose the quarterly. Stupid CEO tricks. Whatever it takes to get a big-time bonus if you win or a big-time Fiorina-sized severance if you fail.