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I can't wait to see the healthcare system when all of the doctors flee the country and we're left with the ones who 'aren't in for the money'. Don't worry, though. They work 20 hours a week.
Most doctors, who are exploited workers in today's system just like every other worker, would get paid more in the system proposed here.
So your idea is to put the top 15th percentile of workers on income parity with Walmart greeters?
Is this really the OWS idea of "fair"?
I don't know what that means.
This is what I advocate:
A fair market system is a system where:
1) 100% of the total income produced in the economy is paid to workers since they are responsible for 100% of the total production.
We must put an end to paying out HALF our income to people who don't work and just collect unearned income like rent, interest and profit because, as I will demonstrate, we don't need to pay these incomes, any more than we need to pay people an income to print their own money, in order to get our market economy to work and because the capital we are paying this unearned income on was produced with stolen resources.
2) And we must allocate that total income based on how hard you work, instead of based on how much exploitation you can get away with, since the whole purpose of income is to be an incentive to work and work hard. So differences in income will be based only on what is necessary to get workers to do mentally or physically difficult work and to get them to give their maximum effort in performance based jobs since this is the only legitimate economic justification for paying one worker more than another.
Paying 100% of our income to workers and paying them based on how hard they work is the only fair market system.
1) 100% of the total income produced in the economy is paid to workers since they are responsible for 100% of the total production.
We must put an end to paying out HALF our income to people who don't work and just collect unearned income like rent, interest and profit because, as I will demonstrate, we don't need to pay these incomes, any more than we need to pay people an income to print their own money, in order to get our market economy to work and because the capital we are paying this unearned income on was produced with stolen resources.
2) And we must allocate that total income based on how hard you work, instead of based on how much exploitation you can get away with, since the whole purpose of income is to be an incentive to work and work hard. So differences in income will be based only on what is necessary to get workers to do mentally or physically difficult work and to get them to give their maximum effort in performance based jobs since this is the only legitimate economic justification for paying one worker more than another.
Paying 100% of our income to workers and paying them based on how hard they work is the only fair market system.
I love it!! You're presented with an economic term yet you don't understand what it means and return to your babble. PRICELESS!!
I don't think you've thought through the economic consequences of putting 88% of the workforce on income parity.
The actual incomes I give are just an example to illustrate the point. There are lots of ways you can structure compensation. So the actual plan implemented would likely be different.
It becomes more and more clear that you just copied and pasted from the OWS site. If you were the author of the original post, you'd have something more to add to the discussion than just reposting the same stuff over and over. "Knowing" the owner of the website and author of the original post is not the same as understanding or being able to defend the concept.
I mentioned inflation caused by quadrupling the median wage in the US and you referred me back to post #3.
Your math there is wrong. You are assuming that the total US production is void of input costs.
So yeppers, your plan is going to explode inflation and thus create REAL wages that are more in line with current wage levels.
Your other huge gaping error is the silent assumption that the 20 hour workweek isn't going to impact the US GDP that you are using to support your "wage math".
All we are doing is re-allocating EXISTING income. We are not increasing the total amount of income that is getting paid out. So it does not cause inflation.
If all we did was increase the minimum wage to $115k, and kept everyone else's income the same, that would cause inflation. But that is not what we are doing. We are also lowering the top pay from hundreds of millions and billions of dollars to just $460k. The amount we are reducing the top pay is exactly equal to the amount we are increasing the minimum pay. The net result is no increase in price on average. This is math 101.
If you have a $14.5 trillion economy and you only pay out $14.5 trillion in income, it is mathematically impossible to have inflation. How is the economy going to inflate beyond the $14.5 trillion if only $14.5 trillion is being spent? It can't. It is impossible.
You can see the calculation in paying out those incomes here:
There will always be poor and rich in every system.
We produce $15.4 trillion in goods and services every year.
That is just under $50,000 per year for every man, woman and child. That is $200,000 per year for a family of 4. That is $65 per hour for each hour every worker works. That is $135,000 per year for every full-time worker.
No matter how you slice it, that is clearly enough income to make everyone in this country wealthy.
The only reason why we have poverty in our country is because a ruling class takes the vast majority of the income workers produce.
The actual incomes I give are just an example to illustrate the point. There are lots of ways you can structure compensation. So the actual plan implemented would likely be different.
Once you address these points:
Quote:
Originally Posted by hnsq
Suppose we are making hammers. You make six hammers an hour working as hard as you possibly can, I make 12 hammer per hour working as hard as I possibly can. Are you saying you would pay us both the same wage?
Quote:
Originally Posted by skeeter31
I have another question...if 100% of the income of a company is being paid to the workers, how would said company afford up keep of their buildings and facilities, or afford to purchase new inventory to see or make? How would they pay their taxes, fees, lawyers, permits, etc?
If 100% of what's coming in goes immediately back out to the workers, there's nothing left over to improce the company or keep it able to produce or sell goods. Therefore, the company would tank in a matter of weeks or months.
For example, take McDonalds for example. They sell tons of food when this plan is first put into place, then pay their employees 100% of the income from those sales...they then have no money remaining to purchase new beef or buns or vegetables or chicken. Thus, they have nothing to sell. Thus, they have no income to pay to their employees. Thus, they go out of business and ALL those $115K employees are out of a job. Explain that!!
Then you end up with a system that is pretty much the exact same as the one we have currently in existence. Maybe you're just in love with the idea of getting paid 6 figures to chase your pipe dream as a wannabe independent blogger, but as flawed and ill-hatched as this idea is, that's all it'll ever be, a pipe dream.
I am willing to respond to most of the crazy things most people write. But the insanity runs way too deep in your posts. I'm sorry.
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