In Defense if a Maximum Wage

[Mardla]

What's your opinion of a "maximum wage" (or salary)?

At first glance, the idea of a maximum wage seems rather petty, almost driven by resentment--after all, how is it wrong for someone to be paid however much their employer is willing to pay?

However I personally favor a maximum wage as a way to remedy social harm. Rather than one-size-fits-all "maximum wage", I think different occupations should be capped differently. Marketing, for example, should have a relatively lower cap than more socially beneficial lines of work. The reason being that higher salaries or wages tends to attract higher quality minds (in this case, creativity). By lowering the incentive for these types of fields, their quality minds would be diverted to more lucrative careers. This would also product the price of products.

[Monsa]

You Refer to marketing, but I would like to hear your opinion on the medical field, as positions there making lots of money but would fall under socially beneficial. Same with government officials.

[Washington Resistance Army]

What's your opinion of a "maximum wage" (or salary)?

Fully supportive. I think $10,000,000 as the maximum is a fair number.

[Kannap]

What's your opinion of a "maximum wage" (or salary)?

At first glance, the idea of a maximum wage seems rather petty, almost driven by resentment--after all, how is it wrong for someone to be paid however much their employer is willing to pay?

However I personally favor a maximum wage as a way to remedy social harm. Rather than one-size-fits-all "maximum wage", I think different occupations should be capped differently. Marketing, for example, should have a relatively lower cap than more socially beneficial lines of work. The reason being that higher salaries or wages tends to attract higher quality minds (in this case, creativity). By lowering the incentive for these types of fields, their quality minds would be diverted to more lucrative careers. This would also product the price of products.

We better figure out this minimum wage stuff before jumping to another idea.

[Grinning Dragon]

I don't think there should be a max cap on the amount a person can earn.

[Heloin]

Minimum wage should be set to 15. Maximum is set at 14.

[Hrythingia]

It is the decision of the business owner how he much he pays his employees or himself.

[Teachian]

I’m actually kind of in support of the idea myself...

in the sense of implementing it in a way that those closer to the top will have to find something else to do with the company’s money rather than give themselves another raise.

I get that talent is finite and some places seem more deserving than others, but I hesitate at a system where one or a small (relative to the population) group of people get to decide what’s worth it or not.

[Luziyca]

Seems like a good idea on paper, but unless we restrict people from being paid in stocks to circumvent the maximum wage, it just won't work.

[The New California Republic]

The problems of pay that could be seen as "excessive" can partially be offset by having much higher rates of income tax on higher earners.

[The Blaatschapen]

Fun fact, I will work less beginning from the new year. Because I can.

Which is likely what will happen for a variety of jobs. If the wage is set, then we'll just reduce the hours.

[Dooom35796821595]

It’d be better to limit the amount people in a company can earn in comparison to the lowest paid worker. So if you make it that no one can earn 20x the lowest paid worker, any CEO who wants a massive salary would have to increase the pay of their workers.

And obviously it’d have to include bonuses, portfolio pay, ect. And harsh penalties for evasion.

[The Blaatschapen]

It’d be better to limit the amount people in a company can earn in comparison to the lowest paid worker. So if you make it that no one can earn 20x the lowest paid worker, any CEO who wants a massive salary would have to increase the pay of their workers.

And obviously it’d have to include bonuses, portfolio pay, ect. And harsh penalties for evasion.

We'd just make all the workers at the bottom freelancers! It's what companies like Uber are doing anyway.

[The Liberated Territories]

I am against the idea of a "maximum wage," as it violates the voluntary nature of such agreements. I am under no illusion that CEOs may get paid far more than their actual market value, ergo I support an end to corporate personhood to remedy that.

[Petrolheadia]

How would you determine what is useful?

I am against the idea of a "maximum wage," as it violates the voluntary nature of such agreements. I am under no illusion that CEOs may get paid far more than their actual market value, ergo I support an end to corporate personhood to remedy that.

I generally agree, but what would no corporate personhood change?

[Dooom35796821595]

It’d be better to limit the amount people in a company can earn in comparison to the lowest paid worker. So if you make it that no one can earn 20x the lowest paid worker, any CEO who wants a massive salary would have to increase the pay of their workers.

And obviously it’d have to include bonuses, portfolio pay, ect. And harsh penalties for evasion.

We'd just make all the workers at the bottom freelancers! It's what companies like Uber are doing anyway.

That’s something that has to end too, with or without a maximum wage.

[The Liberated Territories]

How would you determine what is useful?

I am against the idea of a "maximum wage," as it violates the voluntary nature of such agreements. I am under no illusion that CEOs may get paid far more than their actual market value, ergo I support an end to corporate personhood to remedy that.

I generally agree, but what would no corporate personhood change?

CEOs would be forced to pay up-front damages caused by fraud, instead of shifting it to an institution like a corporation. "The company" would have no legal privileges in that way. Bernie Madoff and his ilk would at least not have been fully immune from accusations of fraud.

[Kannap]

Minimum wage should be set to 15. Maximum is set at 14.

[Trumptonium1]

I'm am fully against a maximum wage, however, I do think that it is quite reasonable to cap compensation growth for executives at the same rate as salary growth in the same year for the lowest paid workers in the company.

I do think it is fairly unreasonable for executives to have 15% year-on-year compensation growth while giving employees what are now seen as the market rates of 1-2.5%. It appears any notion of non-executives contributing to revenue growth or company performance has been lost on some execs. I do think it is unreasonable that over the last two years executive wages rose 17% in the UK while full time private sector median wages edged up short of 3.

I mean it's in the interest of the executives anyway, because we're not too far away from McDonnellite policies that will fuck them in the arse.

[Ethel mermania]

How would you determine what is useful?


I generally agree, but what would no corporate personhood change?

CEOs would be forced to pay up-front damages caused by fraud, instead of shifting it to an institution like a corporation. "The company" would have no legal privileges in that way. Bernie Madoff and his ilk would at least not have been fully immune from accusations of fraud.

Madoff went to, and still is in jail for fraud. He lost everything he had. His company was bankrupted. What immunity are you talking about?

[Senkaku]

sounds dumb let's not

[Mardla]

What's your opinion of a "maximum wage" (or salary)?

At first glance, the idea of a maximum wage seems rather petty, almost driven by resentment--after all, how is it wrong for someone to be paid however much their employer is willing to pay?

However I personally favor a maximum wage as a way to remedy social harm. Rather than one-size-fits-all "maximum wage", I think different occupations should be capped differently. Marketing, for example, should have a relatively lower cap than more socially beneficial lines of work. The reason being that higher salaries or wages tends to attract higher quality minds (in this case, creativity). By lowering the incentive for these types of fields, their quality minds would be diverted to more lucrative careers. This would also product the price of products.

We better figure out this minimum wage stuff before jumping to another idea.

Minimum wage doesn't actually do anything, because any gains labor takes from it will be erased by printing more money and increasing gimmedats, both of which make the cost of living go up.

[Valrifell]

sounds dumb let's not

I don't know, after a certain point, you reach the level of "filthy stinkin' rich" where you just watch a number grow and no amount of charity can make you less than deadweight on the economy with how little you spend.

[United Muscovite Nations]

A maximum wage would be a good idea, it doesn't make sense to pay people absurd sums of money when, after a certain point, there'd be no way to possibly spend it all in one year. Moreover, this would free up salary money for workers from company coffers, or incentivize them to invest in benefits for workers.

[Trumptonium1]

We better figure out this minimum wage stuff before jumping to another idea.

Minimum wage doesn't actually do anything, because any gains labor takes from it will be erased by printing more money and increasing gimmedats, both of which make the cost of living go up.

While a maximum wage deflates the economy and so reduces consumption and investment and so reduces asset wealth including that which the elderly draw down for a private pension. It also reduces interest rates and so makes saving for a goal twice as hard.