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Motown_Johnny

(22,308 posts)

28. a maximum wage is a fundamentally flawed concept

Tue Apr 29, 2014, 09:07 PM

Apr 2014

You would end up creating a downward spiral that hurts most people far more than it would help.

If you cap a CEO's yearly salary then that person will end up wanting more time off for that pay. Then more and then more still. The fight will not be about money, since that would be maxed out already, but about time off. Eventually you will have CEOs making the maximum wage with very little time at work.

This would "trickle down" because other people in the company would need to do the work while the CEO is off. These people would be getting less pay than the CEO (presumably the cap applies to them also) or maybe the same amount but working slightly more.

It is a death spiral where nobody wins.

Reasonable tax laws are the way to go. They have been proven to work and can work again.

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How do you live on $50 a week, or for that matter, $270 a week? [View all] HomerRamone Apr 2014 OP

True shenmue Apr 2014 #1

I've said this a couple of times. Rod Beauvex Apr 2014 #2

What it will do though is double or triple the amount of minimum wage earners. Bandit Apr 2014 #4

So should we raise the minimum wage? MattBaggins Apr 2014 #5

The reason why they are paying 150% of minimum wage is to attract better employees Major Nikon Apr 2014 #6

Most small businesses do not make huge profits Bandit Apr 2014 #12

The idea you are promoting is libertarian nonsense that has no basis in sound macro economics Major Nikon Apr 2014 #13

Historically, raising the minimum wage always results in massive job loss. Orrex Apr 2014 #20

You obviously have never run a business Bandit Apr 2014 #23

You should go out of business if you pay your employees shit wages when everyone else is paying more Major Nikon Apr 2014 #24

$10.10 by 2016 is a cynical, election-year PR move coming from an administration woo me with science Apr 2014 #31

In addition, 84% of McDonald's workers report wage theft Warpy Apr 2014 #3

This is a reality, this is the amount many single mothers makes and it requires them Thinkingabout Apr 2014 #7

smirkingchimp - website from the past - Haven't been there for years Liberal_in_LA Apr 2014 #8

I still go there every day HomerRamone Apr 2014 #9

Minimum wage is only a small part of the problem. llmart Apr 2014 #10

Unions should be a big part of the solution, but there should also be more governmental regulation Major Nikon Apr 2014 #16

Unions, a living wage, regulations, and affordable housing and healthcare... LanternWaste Apr 2014 #30

Rather than a living wage I would prefer a stronger minimum wage and virtually universal unions Major Nikon Apr 2014 #32

13.7 million? wow RobertEarl Apr 2014 #11

Trickle down was always a euphemism for flood-up economics.. ananda Apr 2014 #14

It was never anything more than a Trojan horse for tax cuts to the rich Major Nikon Apr 2014 #15

I remember azmom Apr 2014 #22

The actual story is absolutely freaking hilarious Major Nikon Apr 2014 #25

Wow azmom Apr 2014 #26

The only thing that trickles down is warm, wet, and yellow. hobbit709 Apr 2014 #18

These fools should be setting aside $500 each month for retirement Orrex Apr 2014 #17

That crossed my mind as well. Skidmore Apr 2014 #19

A thousand . . . A THOUSAND. HughBeaumont Apr 2014 #21

INDEX IT + A MAXIMUM WAGE for CEOs! pansypoo53219 Apr 2014 #27

a maximum wage is a fundamentally flawed concept Motown_Johnny Apr 2014 #28

K&R. woo me with science Apr 2014 #29