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

[Revoltingest]

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.

But would that actually happen?
Who says it would be a foreign company?
But if outsourced to a foreign country, would said country retaliate against the trade sanctions?
Beware unintended conse......you know.

 

[freethinker44]

But would that actually happen?
Who says it would be a foreign company?
But if outsourced to a foreign country, would said country retaliate against the trade sanctions?
Beware unintended conse......you know.

No, I'm not saying just tax foreign companies, I'm saying we penalize American companies that outsource. There's different ways to do it, if we have a min/max wage ratio we could factor in the outsourced employees pay into the ratio, for example, if a company outsources to a country that pays it's employees 1 dollar an hour then the minimum wage to factored into the ratio would be 1 dollar per hour. Or if we wanted to do the import/export tax for outsourcing we could set up trade agreements so only American countries that outsource are effected by the tax. And if they're just upset because our taxes hurt their outsourcing jobs, Oh well, their outsourcing jobs hurts our jobs.

 

[Twilight Hue]

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.

Business imo can be just as bad as goverment. Prior to the institution of minimum wage, things were pretty bad for the workers.

 

[Revoltingest]

No, I'm not saying just tax foreign companies, I'm saying we penalize American companies that outsource.

Again, you risk trade sanctions by other countries.

There's different ways to do it, if we have a min/max wage ratio we could factor in the outsourced employees pay into the ratio, for example, if a company outsources to a country that pays it's employees 1 dollar an hour then the minimum wage to factored into the ratio would be 1 dollar per hour. Or if we wanted to do the import/export tax for outsourcing we could set up trade agreements so only American countries that outsource are effected by the tax. And if they're just upset because our taxes hurt their outsourcing jobs, Oh well, their outsourcing jobs hurts our jobs.

So the max/min wage restriction will require revamping our entire foreign economic policy?
This seems a very poorly thought out strategy.....something straight out of Vonnegut's Harrison Bergeron.

 

[freethinker44]

So the max/min wage restriction will require revamping our entire foreign economic policy?
This seems a very poorly thought out strategy.....something straight out of Vonnegut's Harrison Bergeron.

Oh, it would change our entire economic system, I think. I think it would change the way we conduct business, the way we pay employees, the way we hire, ... everything. I think there would be a fundamental shift in our nations economic system. For sure it wouldn't just be, "here's your maximum wage, go about your business as usual". We may have to rebuild our economic system from the ground up.

 

[Revoltingest]

Oh, it would change our entire economic system, I think. I think it would change the way we conduct business, the way we pay employees, the way we hire, ... everything. I think there would be a fundamental shift in our nations economic system. For sure it wouldn't just be, "here's your maximum wage, go about your business as usual". We may have to rebuild our economic system from the ground up.

Forgive me if I strongly advocate against your more economically interventionist government.

 

[freethinker44]

Forgive me if I strongly advocate against your more economically interventionist government.

I can live with that, however it should be noted that I, respectfully, strongly object to your strongly advocating against my position.

 

[Revoltingest]

I can live with that, however it should be noted that I, respectfully, strongly object to your strongly advocating against my position.

I've no objection to your objection to my objection.

 

[Twilight Hue]

Im not aware of any country with an existing maximun wage at present. Closest from what Im able to garner is a progressive tax. Im against all the excess going to goverment coffers. Ideally, a significant portion goes right back into the company's infrastructure. There are debates over initiating such a system as to just how such a system can adjust to economic changes.

 

[Apex]

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.

I don't think the "unintended consequences" would be that difficult to stop.

 

[Twilight Hue]

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.

Worth considering. The ratio on workers and the ceo at McDonalds is abysmal.

 

[Revoltingest]

I don't think the "unintended consequences" would be that difficult to stop.

Remember that the same people who would engineer this max/min wage law are the same people who got us into the Iraq & Afghan wars to make us more secure, run the TSA to protect us, are illegally spying upon us, & instead of bailing out under water homeowners, bailed out the lenders, while letting the homeowners go bankrupt. Trust them to do a good job in further restricting economic behavior? I won't

 

[freethinker44]

Trust them to do a good job in further restricting economic behavior? I won't

"Further restricting"? I didn't see any restricting at all. The most the general public got out of all that was better protection from predatory lenders, everything else went to maximizing profit for businesses.

 

[Revoltingest]

"Further restricting"? I didn't see any restricting at all. The most the general public got out of all that was better protection from predatory lenders, everything else went to maximizing profit for businesses.

No? I see economic regulation all over the place.
- Requirements for racial make-up of companies.
- Wage controls.
- Benefit regulation.
- Barriers to new companies entering some industries.
- Etc, etc, etc.
- Lending regulation.
- Charging for building rights.
- Taking of private property.
What kind of business do you run?

Btw, the nastiest & most destructive lender I ever dealt with was owned by government.
I'll deal with a privately owned predatory lender any day. What is your borrowing experience?

 

[Twilight Hue]

Maybe I spoke too soon. Appears that Switzerland has considered a system that places a cap on ceo salaries on a ratio of what lowest tier employees make. Similar to what Apex mentioned.


Article here: Slashdot

 

[freethinker44]

No? I see economic regulation all over the place.
- Requirements for racial make-up of companies.
- Barriers to new companies entering some industries.
- Taking of private property.

These have been around for a while.

- Wage controls.
- Benefit regulation.

What wage control? Aside from minimum wage, the skies the limit to what companies can pay.

- Charging for building rights.

Is this new? Never heard of it.

- Lending regulation.

As far as I can tell, this is one of the only new economic restrictions to arise out of the recession.

Btw, the nastiest & most destructive lender I ever dealt with was owned by government.
I'll deal with a privately owned predatory lender any day. What is your borrowing experience?

US Bank. Complete idiots. I don't even know why they employ people there, if the solution to the problem isn't a box they can check in their paperwork then they can't make a decision.

 

[9-10ths_Penguin]

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.

I think actually capping how much a person earns would be very difficult, especially in cases where a director is also a major shareholder of the company. There are many ways that companies pay people money and only a few of them count as wages.

 

[freethinker44]

I think actually capping how much a person earns would be very difficult, especially in cases where a director is also a major shareholder of the company. There are many ways that companies pay people money and only a few of them count as wages.

Right, like I told Revoltingest, I think implementing a system like that would require a massive overhaul of our current system.

 

[Twilight Hue]

I think actually capping how much a person earns would be very difficult, especially in cases where a director is also a major shareholder of the company. There are many ways that companies pay people money and only a few of them count as wages.

I wouldnt be against cumulative wealth. The issue is disparity over central pay wages. The rest like investments and income earned alternatively ie royalties and such can remain as always without capping. I figure something like that encourages and helps maintain incentive.

 

[Antibush5]

The reason why there is no maximum wage is because it's private property, you set your own wage, if you wanna reap the benefits of a long term investment in your company by having a smaller wage and investing it in expanding your business or you want a short term benefit of having a large salary, that's your choice, you see it's part of this thing of "respecting property rights" that people seem to be forgetting these days.