Why is there no maximum wage?

[madinmaryland]

[Lionessa]

1. France's Hollande is doing this for those that receive

government contracts, iirc. I'll go look for the link. Though many conservatives around here disagree with me about nearly everything, they all thought this was a good idea.

Article below, it isn't gov't contracts recipients, in our case it should be.

[Lionessa]

2. Here's the France info link.

http://www.nakedcapitalism.com/2012/07/france-pushing-for-a-maximum-wage-will-others-follow.html

From the Financial Times:

France’s new socialist government has launched a crackdown on excessive corporate pay by promising to slash the wages of chief executives at companies in which it owns a controlling stake, including EDF, the nuclear power group.

In a departure from the more boardroom-friendly approach of the previous right-of-centre administration, newly elected president François Hollande wants to cap the salary of company leaders at 20 times that of their lowest-paid worker.

According to Jean-Marc Ayrault, prime minister, the measure would be imposed on chief executives at groups such as EDF’s Henri Proglio and Luc Oursel at Areva, the nuclear engineering group. Their pay would fall about 70 per cent and 50 per cent respectively should the plan be cleared by lawyers and implemented in full…

France is unusual in that it still owns large stakes in many of its biggest global companies, ranging from GDF Suez, the gas utility; to Renault, the carmaker; and EADS, parent group of passenger jet maker Airbus.

[Nuclear Unicorn]

3. What if my wage is the product of fair and legal transactions valued by my customers?

Why should they be denied the right to my products or services or why should I be forced to work for free beyond a certain point?

[limpyhobbler]

6. People should not be allowed to accumulate unlimited amounts of money.

The inequality is distorting our democracy and tearing apart our society.

That's a top reason.

[Nuclear Unicorn]

8. Voluntary and fair transactions distort nothing.

It shackles that inhibit people from acting freely that are the distortion.

[limpyhobbler]

9. By that logic you would also be against a minimum wage.

Since a minimum wage limits freedom in the same way as a maximum wage. Same "shackles".

I want the freedom to live in a society free of vast inequality and unfairness.

If you think inequality is not distorting our democracy, I fear you might not be paying attention.

[ChazII]

21. I feel I should be allowed

to save as much money as I wish from my paycheck. I already donate on a monthly basis to a food bank, add two to five dollars more to my utility bills to help those who can't make payments. Maybe I am misunderstanding what you mean. Being on new seizure meds does make misunderstanding a possibility.

[limpyhobbler]

24. Would not affect you. I was thinking maybe a max wage of about $75000/ hour...

We are talking about the very richest people in the world, and just trying to reign them in from collecting unlimited piles of money, because the extreme wealth inequality is corrupting our democracy.

What you described about saving and donating is vary admirable. I don't think anybody would want to discourage that.

[Egalitarian Thug]

13. A. No one would be forcing you to work. B. How much more than more do think is adequate

compensation for what you were doing? And if you did not wish to work because you would be taxed, why not then hire someone else to work for you?

[Sirveri]

41. If you believe that your working hours are too high, feel free to share the load.

Most people who would be hit by a theoretical maximum wage have employees and make their money off of THEIR labor. Don't want to donate every dollar past 1 million to the government, feel free to give it back to the people who actually make your money.

[Marinedem]

4. And what would that be?

Serious question.

It's a nice pithy sign, but it isn't that simple.

It's not like all the money that doesn't get paid to the head of a business will go to the employees.

The company's ceo would not have an incentive to put production past any point that wouldn't make his own wages any higher.

The bottom rung employees still get paid the same.

[limpyhobbler]

10. Lets try maybe $5000 per hour?

That's about $10 million dollars / year on a 40 hour/week basis.

[Logical]

12. What about a author who writes a book that makes $150 million? The author makes $10 in your plan....

and the publisher makes the rest? Seems unfair to the author.

[limpyhobbler]

14. No not $10....they can make $10 Million dollars per year. $5000 per hour. Or $10 million per year.

If you thought $10 yes I agree that is a ridiculous wage for anyone.

[Logical]

15. I meant $10 million. Why does the author get only $10 million but the publisher gets the rest?

[limpyhobbler]

16. OK fine lets set it at $75,000 per hour. That's $150 million per year and takes care of your author.

Seventy-five thousand dollars per hour.

That's about $150 million per year on a 40-hour /week basis.

Makes more money in one hour than most people will in 2 or three years.

OK?


on edit: And the people at the publisher would also be subject to the same max wage.

[Logical]

17. I can see your point but do you see what I mean? If I create something (movie, book, invention) ....

that people want to buy in large amounts then how do you limit my sales and success?

If I write a book, like the Harry Potter series and it sells 500 million copies, then at some point you tell me no more sales?

[limpyhobbler]

19. Yes I see your point. I think this author could still live pretty good on $75,000 / hour.

I don't have a problem limiting what people can "earn", in the interests of maintaining some equality, to keep vast inequalities from distorting our democracy and culture.

[Occulus]

37. Except that they wouldn't.

The publisher would be subject to the cap as well.

I should add that, as a postal employee, I am already subject to a "maximum wage", as set forth in the level/grade pay schedule negotiated in the contract. There is, quite literally, a "most I can make" per year, and that in fact does max out at a certain level/grade.

So, we already do have a "maximum wage" in some forms of employment. The real question you should be asking is, why does that seem to only apply to hourly wage positions?

[Hoyt]

30. I think there probably should be some kind of tax on amounts over some level.

Not sure what that level is. That way there won't be big disincentives to reduce work,but yet things are a bit more equitable.

But, if I make say $250, 000 net next year, I'll be glad to pay say 5% more, maybe even considerably more, after say $100K. Then maybe several more brackets after that.

We have an issue with income and wealth in this country that is out of balance.

[Logical]

31. I 100% agree with you! Higher tax rates are needed!!

[Occulus]

38. What we need is a tax per trade for all Wall St. transactions

and a HUGE capital gains tax.

[Sirveri]

42. It would actually go to the government, the only way to accomplish max wage is with taxes

[FarCenter]

5. Great idea! Especially for sports and entertainment figures.

[Logical]

11. Explain why? So the studio can make the money and not the star?? Really?

[FarCenter]

18. The studio's spending on image, publicity, marketing, production and distribution make the star

Otherwise they are just pretty people.

[NNN0LHI]

7. I don't care what some other person makes

Just let me have enough of a wage myself to keep the bill collectors at bay and live a decent life.

Now if I can't have the wage to accomplish that I will begin looking more closely at what other people are making and we will be making adjustments accordingly.

And I won't stop at what some wealthy person is making either. We will start there and work our way down.

Don

[Marinedem]

20. Sorry, I don't see that working out.

You (or anyone) can't magically set an arbitrary number based in reason, because there isn't one.

I think the wage cap should be whatever people are willing to pay you.

Radical, I know.

[stevenleser]

22. I think this is a cute distraction. The issue is a living wage for all workers.

After that, I dont care how much other folks make.

[Honeycombe8]

23. There is at my co. There's a max. wage for the various job titles. But "wage" does not include

profits you get for innovation, entrepreneurship, contracts such as CEO-company contract, etc.

It goes against the right to receive the rewards of your creativity, work, etc. If the market allows you to profit by billions from inventing and making and marketing SPANX, then you get to receive that profit.

Min. wage limits I guess are to prevent slave labor. I guess?

[MrSlayer]

25. Because the idea is kind of silly.

I don't really care how much money a Sheldon Adelson or a Bill Gates make as long as they pay their fair share in taxes. The problem isn't with people being rich, it's that they get away with paying less for for doing less. Installing a much more progressive tax system solves it.

[orpupilofnature57]

26. There is

http://en.wikipedia.org/wiki/Bill_Gates

[Nevernose]

27. Michael Moore suggested an alternative:

A new law or amendment, making the maximum pay at a company no more than, say, a hundred times what the lowest paid employee makes. That way a person could still make obscene amounts of money (this is America, after all), but I guarantee that the janitors still be paid pretty well. It gets to the whole point, that of an equitable wealth distribution.

[laundry_queen]

29. I like that idea.

Make the maximum wage tied to the minimum wage.

[limpyhobbler]

32. this would be awesome

[Nye Bevan]

34. So A-Rod would earn 100 times what the batboy is paid? (nt)

[Egalitarian Thug]

36. I don't think bat-boys are paid, but the locker room janitors would be happy. n/t

[RKP5637]

28. At one time sane progressive taxation and inheritance tax used to

control it some, but that sure as hell went out the window. Now, it's grab as much as you can. The entire economic system in the US needs to be revamped. We are currently running on an obsolete and failed system, except for those that have rigged the game.

[Nye Bevan]

33. Hmmmm. What should A-Rod be paid? (nt)

[geek_sabre]

35. Because its a stupid idea.

[Occulus]

39. It's already a reality for some of us

and goes back many, many years.

[WillowTree]

40. And who gets to decide what the maximum is to be?

Let me guess.......you???