If there is a minimum wage, why is there no maximum wage?

[Twilight Hue]

Never gonna happen.

Yet.... the excess revenue could maintain company stability and employee retention as well as increasing personal spending by sharing the excess that keeps community and government viable. That sounds like a win win.

On the other hand, would a maximum wage be detrimental? What would be the economic impact should something like this ever come to fruition? Would it work?

Listen to the roar of our UK friend. The argument can apply to the US and even Canada.

[youtube]rmVVQFR9CNw[/youtube]
Minimum Wage? Why no Maximum Wage? - YouTube

 

[Twilight Hue]

Im not the biggest fan per say of Tedx but David le Page does make a good case for a maximum wage. I think something structured like this dosent mean living in a communist or socialist environment at all.

Not all the excess has to go to the government either as most suggest when talking about the idea of a maximum wage, I would be against that, but rather mandate a percentage to be reinvested back into the business through annual spending programs weither it means improved facilities and equipment, attractive compensation, safety nets for the company etc. Many profit companies are likely do that anyway to reduce it's tax burden.

I personally feel the roof for a living maximum wage could be around 5 to 10 million dollars annually for ceo's and its executive staff that includes all government staff at every level.

Again it will never happen in my lifetime, but I think something needs to be done at some point in the far future because all this excessiveness and greed will eventually bring great harm to everyone.

[youtube]T69NDIcHOl8[/youtube]
A case for the maximum wage: David Le Page at TEDxTableMountain - YouTube

 

[Revoltingest]

I like greed, especially in the springtime.

More gov restrictions on wages reminds me of a dreary cloudy SE MI winter day
with salt laden slush everywhere, & grayish brown trees looking so sad & forlorn.

 

[Apex]

I am not a fan of a maximum wage. I am, however, a fan of a minimum wage ratio based upon each CEO's wage.

 

[Falvlun]

I am not a fan of a maximum wage. I am, however, a fan of a minimum wage ratio based upon each CEO's wage.

I prefer a ratio too, though I have no idea what such a ratio would be.

Also, we have to remember to include bonuses. I have a feeling if we didn't, we'd get CEOs paid $30,000/year with a $20 mil bonus at the end.

 

[Revoltingest]

I am not a fan of a maximum wage. I am, however, a fan of a minimum wage ratio based upon each CEO's wage.

What do you think the real world effect of a max/min wage ratio would be?
Would the min wage rise, or would the max wage fall, or something in between?

 

[9-10ths_Penguin]

I think a maximum wage would be unworkable, since it would be easy to find workarounds: for instance, John Smith, president of Acme Inc. could get the maximum wage for his position as president, while also getting the maximum wage for his position as president and sole employee of "John Smith, Inc." (a consulting service with only one client: Acme Inc.), and gets all of the corporate investor profits (since he's also the only shareholder).

 

[Twilight Hue]

I like greed, especially in the springtime.

More gov restrictions on wages reminds me of a dreary cloudy SE MI winter day
with salt laden slush everywhere, & grayish brown trees looking so sad & forlorn.

I forgot. Sowing as many bacon seeds as humanly possible.

Let some go to the goverment. Just not everything. :0D

 

[Revoltingest]

I forgot. Sowing as many bacon seeds as humanly possible.
Let some go to the goverment. Just not everything. :0D

I'm completely confused by this post.
But I like the sound of it.

 

[Twilight Hue]

I think a maximum wage would be unworkable, since it would be easy to find workarounds: for instance, John Smith, president of Acme Inc. could get the maximum wage for his position as president, while also getting the maximum wage for his position as president and sole employee of "John Smith, Inc." (a consulting service with only one client: Acme Inc.), and gets all of the corporate investor profits (since he's also the only shareholder).

I dunno. That sounds ok in such a scenario. Wearing multiple hats for a sole proprietor situation could be feasible. The limitation would be on personal income per position and not on cumulative gain from multiple positions. I suppose multiple positions held on an executive level could be abused.

 

[Akivah]

What about a sole propreitorship? That's one person in business for themselves. Should they have a maximum profit that they are allowed to earn? Should there be a relationship between the numbers of hours worked to the maximum allowed profit?

For corporations, should there be an hours-worked to allowed profit relationship? What about the difficulty of the job or the skills required, should a specialist in a difficult position be allowed to earn more than a high school dropout doing an unskilled position? If so, who gets to make these decisions?

Is it the governments job to ensure everyone's pay no-matter-what-circumstances are all about the same?

 

[Apex]

What do you think the real world effect of a max/min wage ratio would be?
Would the min wage rise, or would the max wage fall, or something in between?

Something in between.

 

[freethinker44]

I think a maximum wage would be unworkable, since it would be easy to find workarounds: for instance, John Smith, president of Acme Inc. could get the maximum wage for his position as president, while also getting the maximum wage for his position as president and sole employee of "John Smith, Inc." (a consulting service with only one client: Acme Inc.), and gets all of the corporate investor profits (since he's also the only shareholder).

I would think we would include regulations and laws to prevent most of that stuff. No system is perfect, but for the obvious cheats like someone giving themselves five job titles and claiming a maximum wage for each, I think that would be easy to regulate.

 

[Akivah]

I'm against government control of business. The typical government program is over-budget, past-due, wasteful, and does the opposite of its advertised effect. I think the minimum wage should be nullified. Let each company pay as it wishes. Each employee can seek employment as they wish. If the wage is too low, they can go elsewhere. Or start their own business.

 

[Twilight Hue]

I'm completely confused by this post.
But I like the sound of it.

It's cryptic and tasty. Lol.

 

[freethinker44]

Is it the governments job to ensure everyone's pay no-matter-what-circumstances are all about the same?

Maximum wage doesn't mean "same pay".

 

[Apex]

I'm against government control of business. The typical government program is over-budget, past-due, wasteful, and does the opposite of its advertised effect. I think the minimum wage should be nullified. Let each company pay as it wishes. Each employee can seek employment as they wish. If the wage is too low, they can go elsewhere. Or start their own business.

That is a horrible idea.

 

[freethinker44]

I'm against government control of business. The typical government program is over-budget, past-due, wasteful, and does the opposite of its advertised effect. I think the minimum wage should be nullified. Let each company pay as it wishes. Each employee can seek employment as they wish. If the wage is too low, they can go elsewhere. Or start their own business.

Historically, that failed miserably. What makes you think it would be different this time around?

 

[Revoltingest]

Something in between.

Another possibility: Companies would fire all lower wage workers, & outsource
whatever it was they were doing. This way, top wage earners needn't take a cut.
Beware unintended consequences.

 

[freethinker44]

Another possibility: Companies would fire all lower wage workers, & outsource
whatever it was they were doing. This way, top wage earners needn't take a cut.
Beware unintended consequences.

If the company outsources a lot of it's jobs, we could consider them a foreign company and impose heavy import/export taxes to make up the difference or encourage them to stay domestic. Actually, that's not a bad idea to do right now.