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FreeJoe

(1,039 posts)

74. I don't understand what you are proposing

Wed Nov 20, 2013, 02:50 PM

Nov 2013

How do you compare hourly wages to salaried exempt employees? Do you determine the latters total income and divide by their reported hours work to make them comparable?

Would this apply only to public corporations or anyone running any business? If I've got my own business and can easily fill my hours at a really high billing rate, are you saying that I should reduce the number of hours I work or that I should cap my billing rate?

Would this apply to all compensation? What would happen if I have stock grants or options and my companies stock skyrockets during the year, putting my compensation over the maximum? Do I have to defer some of that income or does it just get taxed at 100%?

What about none wage income? If someone writes and performs a one-hit-wonder song and has a huge, but short-lived, spike in income, how would that work? Is the maximum wage based on their compensation for the hours they worked on that one song, or on all the time they worked on all the songs they worked on, including all the flops?

I'm a big fan of steeply progressive annual income taxes, but a maximum wage law seems really problematic.

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Oughta be a maximum wage as well as a minimum wage law [View all] fadedrose Nov 2013 OP

I fully agree gopiscrap Nov 2013 #1

What would your max be? nt hack89 Nov 2013 #2

Ten times minimum wage - TBF Nov 2013 #6

Not there yet so it works for me hack89 Nov 2013 #9

Personally I don't think they'd even have to limit salary - TBF Nov 2013 #10

++++ fadedrose Nov 2013 #63

I've said that so many times. Blue_In_AK Nov 2013 #3

Jeff Bezos (Amazon) has a salary of $81,840 per year. Nye Bevan Nov 2013 #4

Do you know what Amazon stock options are worth? TBF Nov 2013 #8

All that would happen would be more stocks and bonuses. RC Nov 2013 #5

I don't see how that's constitutional. Why not just reinstate a marginal tax rate cali Nov 2013 #7

That would work fadedrose Nov 2013 #16

Can't put a dollar amount on that, but what might work... MANative Nov 2013 #11

No (nt) bigwillq Nov 2013 #12

+1 Decaffeinated Nov 2013 #13

No? fadedrose Nov 2013 #15

awesome idea FirstLight Nov 2013 #14

I'll settle for $13 at a minimum Prophet 451 Nov 2013 #24

The federal poverty line is a joke though Cal Carpenter Nov 2013 #25

I didn't know that Prophet 451 Nov 2013 #30

...and yet FirstLight Nov 2013 #31

100% qgree. I'm radical enough to say that no-one ought be a billionaire. WinkyDink Nov 2013 #17

I'd rather have a resource-based economy than TBF Nov 2013 #18

Some DUer--I think maybe it was grantcart--once said that no one should be so rich tblue37 Nov 2013 #39

Heh. I just said that, too, in the "Do you hate the rich?" thread. WinkyDink Nov 2013 #43

So you're saying there's no way to legitimately earn more than your maximum... brooklynite Nov 2013 #19

Sure, glad to. PETRUS Nov 2013 #22

Is she a 1%er???? Bluest4t3 Nov 2013 #28

She is...she works hard and her legal experience is heavily in demand. brooklynite Nov 2013 #33

Around $250,000 is what the maximum income should be IMHO. Bluest4t3 Nov 2013 #46

Maybe she works harder to earn a larger share... brooklynite Nov 2013 #47

Anywhere in the country that amount would provide a decent living. Bluest4t3 Nov 2013 #49

welcome to DU gopiscrap Nov 2013 #44

Stephen King makes around 30 million a year. Dr. Strange Nov 2013 #20

And he earns it. I have no issue with it. n-t Logical Nov 2013 #29

And Charles Koch has a net worth of over 45 billion. Is that too much...? LanternWaste Nov 2013 #52

The current laws tax income. Dr. Strange Nov 2013 #54

Start from Half-Century Man Nov 2013 #21

I would limit inheritance to 2.5 million a person gopiscrap Nov 2013 #45

I went with half again my yearly limit Half-Century Man Nov 2013 #53

How do you recoup investment? Lurker Deluxe Nov 2013 #70

This is why I said "start"....Now to work out the details Half-Century Man Nov 2013 #73

I'd rather it was a ratio than an absolute cap Prophet 451 Nov 2013 #23

What if they were the same? n/t PowerToThePeople Nov 2013 #26

And this is why people hate liberals! Tax them I understand. But no limit. n-t Logical Nov 2013 #27

+1 dionysus Nov 2013 #58

No tax loopholes and a realistic progressive tax system would do it. Capitalism ALWAYS RKP5637 Nov 2013 #32

I publically pledge that if and when I ever own my own company... wundermaus Nov 2013 #34

Isn't that kickstarter funding a form of income ? karadax Nov 2013 #59

Wages and/or income are not the same as wealth. Cleita Nov 2013 #35

How would illiquid assets be valued under your proposed law? Nye Bevan Nov 2013 #36

Assets are assets on the balance sheet liquid or otherwise. Cleita Nov 2013 #37

They usually accumulated that wealth through criminal and borderline criminal activities anyway. tblue37 Nov 2013 #40

I truly believe it because it's the way the system is set up. Cleita Nov 2013 #41

Agree. That kind of wealth concentration is socially destabilizing. lumberjack_jeff Nov 2013 #69

Max wealth law. Share Our Wealth. joshcryer Nov 2013 #38

2 rules are needed Joel thakkar Nov 2013 #42

Make it a ratio like the Swiss proposal, of 1/12, and include all options and bonuses. diane in sf Nov 2013 #48

So if one makes all the money they're allowed to by April, hughee99 Nov 2013 #50

AKA a cap in production. karadax Nov 2013 #62

So paying the doctors LESS is the solution to keeping them working on all year? hughee99 Nov 2013 #64

You would not believe the crap that the SEC is getting for proposing disclosure requirements Gothmog Nov 2013 #51

This is close to wonderful news... fadedrose Nov 2013 #57

The last thing the parasites want is for the suckers they fleece to know just Egalitarian Thug Nov 2013 #65

I'm trying to make as much as I can Boom Sound 416 Nov 2013 #55

pffffffff....... I've always liked the idea... but... sibelian Nov 2013 #56

that sounds like a plan that would never work here rbrnmw Nov 2013 #60

The really rich people do not make their money from wages. FarCenter Nov 2013 #61

Wouldn't a substantial increase.... NCTraveler Nov 2013 #66

The problem isn't maximum *wage* it's maximum *income*. lumberjack_jeff Nov 2013 #67

Excellent point. The entire tax code needs to be trashed and re-developed from zero. Egalitarian Thug Nov 2013 #68

Exactly. The wealthy (1%) haven't got that way from wages. It's dividends and such that stevenleser Nov 2013 #76

I love this idea. liberal_at_heart Nov 2013 #71

I like having a CEO's wage tied to his lowest employees' wages. EOTE Nov 2013 #72

I don't understand what you are proposing FreeJoe Nov 2013 #74

What I was proposing was an impossibility fadedrose Nov 2013 #75