Home | About | Donate

Income Distribution For Minimum Decency, a Maximum Wage


#1

Income Distribution For Minimum Decency, a Maximum Wage

Sam Pizzigati

In the United States today, a just-released Federal Reserve report informs us, over a fifth of the nation’s families simply cannot afford to “pay all of their current month’s bills in full.”

Over a quarter of families, the report goes on, skip “necessary medical care” because they can’t afford the cost. And an even greater share — 40 percent — wouldn’t be able to cover an unexpected expense of $400 without having to borrow cash or sell something they own.


#2

As long as bribing politicians continues to be legal, the 1%'s lawyers and accountants will find ways to circumvent a “maximum wage”.

The 94% tax was very effective at enabling the 1% to buy all the goods and services they wanted but not enough money to buy politicians.


#3

This story gets ahead of ourselves, until congress represents the working class, this is just wishful thinking.


#4

This idea would be a boon for the travel and leisure industry. All those people making over the max wage would stop working once they reach cap go on vacation for the rest of the year.


#5

Unintended consequences, remember what happened when corporations could no longer deduct salaries of over one million dollars for top employees? They gave them stock options instead, which encouraged those top executives to maximize short term stock values. Limit their pay and they will find another way to get money. And what makes you think the average employee will see a dime of this?


#6

“This trend of wage-less growth in the face of a rise in employment highlights the structural changes in our economies that the global crisis has deepened, and it underlines the urgent need for countries to help workers, especially the low-skilled.”
Moreover, things will get worse when automation kicks in. The “technological advances could strengthen a ‘winner takes most’ scenario where worker wages could completely decouple from productivity.”