I think most companies and industries where bonuses make up a significant portion of total compensation still usually have annual inflation adjustments to base salaries, largely to avoid this problem.
In an ideal world, people would be a bit better about managing uncertainty and most people would be able to live comfortably within their means on their base salaries and would have the restraint to invest large percentages of their bonuses.
Fair, but then it's not a question of either one or the other. Im not arguing against bonuses. It just shouldn't be the only outcome of what's expected to be a permanent increase in revenue.
In an ideal world, people would be a bit better about managing uncertainty and most people would be able to live comfortably within their means on their base salaries and would have the restraint to invest large percentages of their bonuses.