Earlier, I posted a question about a "maximum wage," and people thought I meant a limit on what a person can EARN. No. I mean a limit on what a company can PAY any one individual. If somebody wants to work for two companies, then he/she is welcome to double his/her income.
CEOs are not the only people with inflated incomes. Do I think professional athletes or movie stars have equal value to doctors or teachers? No, although my proposed "salary cap" of $5-$10 million a year is still more than what athletes and actors generally make, which leaves businessmen.
2007-01-26 11:31:51 · 4 answers · asked by Anonymous in Social Science ➔ Economics
No, just on YOUR job. I'd support that.
2007-01-26 15:59:26 · answer #1 · answered by KevinStud99 6 · 1⤊ 0⤋
Uh, I think that soccer guy is getting 250 million. I think however, if you can have a minimum wage you can and should have a maximum wage. I say why put it on the companies just make sure no person makes more than what ever arbitary amount you want to set. If they do just make the income tax 100% of everything over a certain amount.
I'd bet average incomes would drop below that tax bracket pretty fast. If a person works two jobs they're just knocking some other poor person out of a job. This way they are free to work as much as they want but if they earn over the limit it is all taxed away.
2007-01-26 12:22:50 · answer #2 · answered by Roadkill 6 · 0⤊ 0⤋
Why limit the income of people who work for their income but not people who collect money from investments on wealth an ancestor worked for. What we use to do and most European countries still do is have an income tax that continues to be progressive at high income levels. Now the tax rates are flat above a couple of hundred thousand or so. This would also help the federal deficit because the people earning over 1 million are getting a bigger and bigger share of the total income.
2007-01-26 17:09:29 · answer #3 · answered by meg 7 · 0⤊ 0⤋
There's no reason to cap how much a CEO or anyone else makes. CEOs receive the paycheck they do because they have proven their ability to lead\direct the operations of that campany. Everyone (and I mean everyone) in a free economy is paid according to what their work is worth to their employer. CEOs are no exception. They receive what they do because their bosses (the stockholders) have put them in that position. If the stockholders don't like them, they can get rid of them. It's that easy.
In other words, they're being paid that much because they're being trusted with a HUGE responsibility (the money, resources, and jobs of thousands of people). Not to mention that, these folks have usually worked like dogs to get into these jobs.
How is it fair to punish someone who works this hard by capping their income?
2007-01-29 04:15:40 · answer #4 · answered by X 2 · 0⤊ 0⤋