Should there be a maximum wage?

Eric_8

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Lots of talk about increasing the minimum wage. Would enforcing a maximum wage be a better solution?

Should there be a maximum wage?

To steal a page from Underguy: not even the Democrats would advocate for this.

Momma needs some brand new Manolos...or in this case, campaign contributions.
 

balsary

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To steal a page from Underguy: not even the Democrats would advocate for this.

Momma needs some brand new Manolos...or in this case, campaign contributions.

I don't think I asked who would advocate for it. I'm more curious to hear actual thoughts on solutions to income inequality.

Have you an original opinion, or are you just going to continue stealing thoughts from other people's books?
 

Eric_8

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I don't think I asked who would advocate for it. I'm more curious to hear actual thoughts on solutions to income inequality.

Have you an original opinion, or are you just going to continue stealing thoughts from other people's books?

Haha way to keep it classy Bals. I missed ya like Earvin misses the hiv

On a side note, I very much enjoy how some of my ideal laws are shut down for their lack of practicality, yet my turning it around on one of your proposals/discussion points yields nothing but rudeness.
 

balsary

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Haha way to keep it classy Bals. I missed ya like Earvin misses the hiv

On a side note, I very much enjoy how some of my ideal laws are shut down for their lack of practicality, yet my turning it around on one of your proposals/discussion points yields nothing but rudeness.

Obviously you missed me. The first thread I start in here in ages, and it took you all of 2 minutes to jump in and add absolutely nothing.

How about you and I make it another couple of months until we talk again? That is, unless you actually want to talk about the topic posted.
 

B_underguy1

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Lots of talk about increasing the minimum wage. Would enforcing a maximum wage be a better solution?

Should there be a maximum wage?

I liked the Swiss idea of chaining executive pay to the average or minimum wage with in the company, but that has limits.

Better to just tax them until their pips squeak. And tax accumulated financial wealth heavily so that individuals and narrow groups can't achieve the sort of social and political power that they now have.

In terms of salaries, enforcing the criminal code and fraud provisions rigorously would see executive pay plummet.
 

balsary

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I liked the Swiss idea of chaining executive pay to the average or minimum wage with in the company, but that has limits.

Better to just tax them until their pips squeak. And tax accumulated financial wealth heavily so that individuals and narrow groups can't achieve the sort of social and political power that they now have.

In terms of salaries, enforcing the criminal code and fraud provisions rigorously would see executive pay plummet.

I liked that idea too. What are some of the limits that you see?

Personally, I see only benefits. Noone (for Vince) is limited in what they can make, they just have to be willing to pay the lower paid people accordingly as well.
 

Eric_8

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It depends on what you consider a fix/solution in regards to income inequality. To me, a fix wouldn't involve simply creating a maximum wage or instituting a higher minimum wage.

Creating a maximum would certainly make income inequality less severe, as would an increase in the minimum wage, but is that really a "fix?"

From my vantage point, we'd still have EXTREME
income disparity.
 

B_underguy1

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I liked that idea too. What are some of the limits that you see?

Personally, I see only benefits. Noone (for Vince) is limited in what they can make, they just have to be willing to pay the lower paid people accordingly as well.

Well a canny CEO/CFO could outsource services and production to an arm's length entity for example.

I know tax laws are gotten around as well, but only because governments allow it.
 

Eric_8

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Well a canny CEO/CFO could outsource services and production to an arm's length entity for example.

I know tax laws are gotten around as well, but only because governments allow it.

While I'm not complaining, tax laws are a JOKE. They are almost too easily sidestepped.
 

balsary

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It depends on what you consider a fix/solution in regards to income inequality. To me, a fix wouldn't involve simply creating a maximum wage or instituting a higher minimum wage.

Creating a maximum would certainly make income inequality less severe, as would an increase in the minimum wage, but is that really a "fix?"

From my vantage point, we'd still have EXTREME
income disparity.

Then what would be a solution, in your opinion?

There has been lots of talk about increasing the minimum wage. Can McDonalds really afford to pay people $15 an hour though? Not if they want to keep paying themselves such ridiculous salaries. A maximum wage might be a better solution to finding a more realistic wage for both burger flippers and CEOs. Or it might not.

I really don't care if you agree with it as a solution or not, but if you see it as a poor solution, one would assume you had a better solution in mind, or at the least, reasons why it is a poor solution.

Conversely, if you think it's a good solution, why?
 

h0neymustard

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Say you're working fast food. Do you, as someone that's worked there for a couple of months, know how to take orders, make food and drink, some basic maintenance, running shifts, etc etc, want to be paid the same as someone that just started?

Should there be a wage limit on someone who oversees hundreds, if not thousands of people, making sure his business stays running smoothly?
 

balsary

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Say you're working fast food. Do you, as someone that's worked there for a couple of months, know how to take orders, make food and drink, some basic maintenance, running shifts, etc etc, want to be paid the same as someone that just started?

Should there be a wage limit on someone who oversees hundreds, if not thousands of people, making sure his business stays running smoothly?

Thanks for repeating the question. Care to answer it now?
 

Eric_8

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Then what would be a solution, in your opinion?

There has been lots of talk about increasing the minimum wage. Can McDonalds really afford to pay people $15 an hour though? Not if they want to keep paying themselves such ridiculous salaries. A maximum wage might be a better solution to finding a more realistic wage for both burger flippers and CEOs. Or it might not.

I really don't care if you agree with it as a solution or not, but if you see it as a poor solution, one would assume you had a better solution in mind, or at the least, reasons why it is a poor solution.

Conversely, if you think it's a good solution, why?

I don't ask questions to demean, so if that's your reason for not answering, please rest your fears there. I'm asking for your opinion to be able to properly adjust mine.

So, what do you consider a fix/solution to income inequality?

IF (if because I don't know) your only desire is to see it less severe than it is now, then a simple change to minimum wage or institution of a maximum wage is your answer. Paying the CEO of McDonald's $20 million instead of $25 makes income inequality less severe. Paying the average burger flipper $10/hour instead of $7.25 (I believe it is) will also lessen the severity of income inequality. However, is that an acceptable solution to you?

If not, what is your desired outcome beyond that?

Personally, I think we could utilize machines to do tons of these jobs, especially in fast food, and would likely make things run more smoothly and at better cost to said companies.

I need to understand your rationale to give a proper answer.

As a complete stand alone opinion (again, without knowing your desires on the matter) I would say there is NO solution to income inequality.
 

B_underguy1

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I don't ask questions to demean, so if that's your reason for not answering, please rest your fears there. I'm asking for your opinion to be able to properly adjust mine.

So, what do you consider a fix/solution to income inequality?

IF (if because I don't know) your only desire is to see it less severe than it is now, then a simple change to minimum wage or institution of a maximum wage is your answer. Paying the CEO of McDonald's $20 million instead of $25 makes income inequality less severe. Paying the average burger flipper $10/hour instead of $7.25 (I believe it is) will also lessen the severity of income inequality. However, is that an acceptable solution to you?

If not, what is your desired outcome beyond that?

Personally, I think we could utilize machines to do tons of these jobs, especially in fast food, and would likely make things run more smoothly and at better cost to said companies.

I need to understand your rationale to give a proper answer.

As a complete stand alone opinion (again, without knowing your desires on the matter) I would say there is NO solution to income inequality.

Progressive tax regimes are a proven method of dampening income inequality growth.

Full employment policies are a proven method, heavily regulating the financial sector is a proven method etc.

It certainly CAN be done.
 

Eric_8

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Progressive tax regimes are a proven method of dampening income inequality growth.

Full employment policies are a proven method, heavily regulating the financial sector is a proven method etc.

It certainly CAN be done.

Since our versions of progressive are so far off, what would you consider progressive taxation?

I'm guessing you don't consider France's new tax on the wealthy nearly as outrageous.
 
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balsary

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I don't ask questions to demean, so if that's your reason for not answering, please rest your fears there. I'm asking for your opinion to be able to properly adjust mine.

So, what do you consider a fix/solution to income inequality?

IF (if because I don't know) your only desire is to see it less severe than it is now, then a simple change to minimum wage or institution of a maximum wage is your answer. Paying the CEO of McDonald's $20 million instead of $25 makes income inequality less severe. Paying the average burger flipper $10/hour instead of $7.25 (I believe it is) will also lessen the severity of income inequality. However, is that an acceptable solution to you?

If not, what is your desired outcome beyond that?

Personally, I think we could utilize machines to do tons of these jobs, especially in fast food, and would likely make things run more smoothly and at better cost to said companies.

I need to understand your rationale to give a proper answer.

As a complete stand alone opinion (again, without knowing your desires on the matter) I would say there is NO solution to income inequality.

I'm asking for your opinion on income inequality and possible solutions, including the idea of a maximum wage. I'm not asking for your opinion of my opinion, as I haven't stated it.

Did you read the article?
 

Eric_8

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I'm asking for your opinion on income inequality and possible solutions, including the idea of a maximum wage. I'm not asking for your opinion of my opinion, as I haven't stated it.

Did you read the article?

Jesus Christ B, why so obstinate?

You're asking me to answer questions that you're refusing to answer yourself.

In regards to the article, I see no reason that skill-less laborers (janitors, etc in this case) should be paid more. Yes, it would incentivise CEO's to pay them more, but why should they?! I can find people (or machines) to do the same job for less, and far, far less in many cases.

If those were my only options, I'd much rather a CEO be lawfully compelled to take less pay than drastically overpay for certain services.

And unless my skimming needs work, the article doesn't mention the stockholders in such companies.

I know I don't want my dividends in McDonald's going down because the CEO decided to pay the janitor $75 so he could similarly give himself a raise.
 
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B_underguy1

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Since our versions of progressive are so far off, what would you consider progressive taxation?

I'm guessing you don't consider France's new tax on the wealthy nearly as outrageous.

The progressive taxes of the 50s and 60s (top rates at 90+%) produced better outcomes than we have now, but I don't view taxation in the way that you do, in that it is incorrect to view it as income to be redistributed by government.

France is a different story because they aren't a currency issuer. They are more like a US or Australian state.

Actually in a worse position because there is no transfer payment mechanism in the EZ. It's neoliberal madness. (Not socialism).