I read "golden handcuffs" as extending a line of credit to employees to support and _encourage_ living beyond their actual means. This is very very different from being pampered and spoiled as you describe.
"They encourage up-and-comers to spend extravagantly; they extend lines of credit to their rising stars. You need a big house with a jumbo mortgage; you cannot pull up to a business meeting in anything less than the best luxury car. It is part of their corporate culture."
"Golden handcuffs are a system of financial incentives designed to keep an employee from leaving the company. These can include employee stock options that will not vest for several years but are more often contractual obligations to give back lucrative bonuses or other compensation if the employee leaves for another company."
-- Wikipedia
I would like to hear arguments about how a doubled salary, thanks to profit-sharing, does not count as a "system of financial incentives designed to keep an employee from leaving the company."
It is merely the carrot and not the stick.
(Does nobody Google any more?)