Why don’t we have a maximum wage? Asking that question is another way of asking why some people can rake in millions while others struggle to earn enough
I think we should be setting these max/min wages as relative values, not absolute values. Otherwise we have to pass laws every time the min wage needs to be adjusted. And we’ll end up with stagnation.
For example, a person’s wage can only be X% higher than the lowest wage of someone a step below them in hierarchy. Including contractors and suppliers so they can’t skirt or find loopholes.
There still might be some haywire incentives that require more thought, but it should hopefully encourage labor to be valued at an appropriate proportion of value. Either everyone makes good money, or nobody does.
Should also probably deincentivize layoffs, stock buybacks, etc. at the cost of shareholder earnings / value.
I don’t have any faith in any reform happening with wealth in any country. Money is too powerful to change anything at the top. 😔 So in that sense, a very long battle indeed. 😞
but then businesses couldn’t run properly right? idk for sure but I feel like smaller businesses would be paid to a person and distrubuted to the company
Lets put that maximum at $10M/month (or year). Now your counter argument doesn’t work any more.
I think we should be setting these max/min wages as relative values, not absolute values. Otherwise we have to pass laws every time the min wage needs to be adjusted. And we’ll end up with stagnation.
For example, a person’s wage can only be X% higher than the lowest wage of someone a step below them in hierarchy. Including contractors and suppliers so they can’t skirt or find loopholes.
There still might be some haywire incentives that require more thought, but it should hopefully encourage labor to be valued at an appropriate proportion of value. Either everyone makes good money, or nobody does.
Should also probably deincentivize layoffs, stock buybacks, etc. at the cost of shareholder earnings / value.
The people who make that kind of money don’t make it through wages but other compensation.
Yes, so block that at a maximum rate (too)?
I am not an accountant but from what I know, taxing stuff like compensation in the form of stocks is pretty hard to do.
I’m not disagreeing with you, the system is just rigged in favor of very wealthy people.
I think that’s the whole point we’re trying to change in this discussion. 👍
Oh for sure, it’s just going to be a really long uphill battle as long as the current liberal system is in place.
I don’t have any faith in any reform happening with wealth in any country. Money is too powerful to change anything at the top. 😔 So in that sense, a very long battle indeed. 😞
Not with that attitude ;-)
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shut up dork
You just make it illegal to compensate in this form. Problem solved.
Which is why we need to not allow borrowing against assets to get over the maximum.
but then businesses couldn’t run properly right? idk for sure but I feel like smaller businesses would be paid to a person and distrubuted to the company