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You will not have a 14.5 trillion dollar economy for long when there is zero incentive to profit and all the incentive in the world to take your money and flee.
Workers would still have all the incentive that they do today. People are not motivated by profit. They are motivated by, among other things, getting paid more income. Under a fair market described in this post, you have the ability to earn significantly more income. It just wouldn't be profit.
Also, keep in mind that our economy does not grow based on our ability to create profit, it grows based on our ability to create new ideas and improve on existing ones. People who are able to do this will have a chance to earn the highest incomes, so there is plenty of incentive to do that and grow the economy.
Workers would still have all the incentive that they do today. People are not motivated by profit. They are motivated by, among other things, getting paid more income. Under a fair market described in this post, you have the ability to earn significantly more income. It just wouldn't be profit.
Also, keep in mind that our economy does not grow based on our ability to create profit, it grows based on our ability to create new ideas and improve on existing ones. People who are able to do this will have a chance to earn the highest incomes, so there is plenty of incentive to do that and grow the economy.
But what's the incentive to strive for that "higher" income when it's only 4X what the minimum wage is? Why would I want to assert myself and earn $400K when I can sit on my ass and earn $115K?
Some people aren't worth the current minimum wage and you want to give them a raise?
So 97% of workers should continue to get exploited and continue to have a significant portion of their income taken from them because not every worker is perfect?
If a worker does not perform the job they were hired to do, they will get fired and they will incur a financial penalty.
I am sorry, but I meant how you calculated the fair value of each job a person is doing. A direct even split is hardly 'fair'. A fair wage is whatever you can earn for yourself. Forcing someone to take a higher wage than they can earn on their own is hardly 'fair'.
Before we dive into the math, please give me your definition of 'fair'.
It is explained in the post.
A fair pay is paying 100% of our income to workers since they are responsible for 100% of our production and since the whole point of income is to motivate people to work and work hard, differences in income will be limited to only what is necessary to get people to do undesirable jobs and get people to give their maximum effort in performance based jobs.
We can't predict what the exact final plan will be. But what we can predict is that you will not come up with any valid scientific study that says we need to pay people much more than twice the amount as everyone else in order to get them to do undesirable jobs or that we need to pay people much more than four times the amount as everyone else in order to get them to give their maximum effort in performance based jobs.
There is nothing fair about the "wage you can get on your own." The wage you can get on your own depends on your bargaining power, not on how hard you work or how much value you provide. If you have no bargaining power, and roughly 97% don't since 97% make a below average income, you will be exploited. That is unfair.
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.
No. When McDonalds has to pay workers 100k they need to bring in a lot more revenue. So you would have $35 cheeseburgers.
The small minority you plan to take wages from would have negligible impact.
The subject of this thread should come from the mouth of a Miss Teen USA contestant when asked what they would do for America.
All we are doing is re-allocating EXISTING income.
So you're basically saying that the fruits of the last 4+ years of 12-15 hour days that I've put into growing my business are not only null and void, but that you want me to continue to work that hard for the same salary that a part time burger flipper makes?
They're planning a trip to your home planet soon - you should see if you can hitch a ride.
So, under your economy, a CEO or a top surgeon would only be making 4X the salary as a fast food worker or a factory line worker? Seems completely fair to me
What I don't get with the whole Democratic/Liberal/Socialist way of thinking is why should we reward laziness in the form of government hand outs and increased minimum wage. The people that are making more than that worked their way up to get to that salary. Now you're going to take it away from them so that people who don't want to work, or people who are working but doing an awful job would make that much more!
Also, under your plan you stated that everyone would be employed, also meaning that no one could get fired. So people could sign up for that $115K job and then never show up and they can't get fired.
Seems like the American way! WAKE UP!
I know this may come as a shock to you, but it turns out that some people actually like science and medicine and they would rather spend their lives saving lives than working at a fast food restaurant.
You could not pay me enough to be a fast food worker or factory line worker.
The whole point of income is to be an incentive to get people to work and work hard. So differences in income would be limited to whatever is necessary to get people to do undesirable jobs and give their maximum effort in performance based jobs.
If we need to pay surgeons more than 4 times more income to get enough surgeons than that is what we will do.
But I claim that you do not. Being a surgeon is a desirable job and it is a far more desirable job than being a fast food worker for people who enjoy science and medicine. So you can make an argument that you don't even have to pay them extra and you still will have enough surgeons.
If you look at some economies like Cuba, where being a doctor is a lower paying job than many others, they still turn out more doctors than they need.
There is no greater government handout than Unearned Income. Half our total income is paid out to people who do not work.
97% of workers today currently get paid a below average income. Roughly 95% would get a pay raise in the system advocated here. So do you really think all these people don't want to work or are doing a horrible job? Of course not. We allocate income based on bargaining power, based on how much you can exploit, not based on how good of a worker you are.
If we turned out 10 times more doctors, their bargaining power would plummet along with their pay. Are they now all of a sudden no longer good workers!?! Of course not. They lost their bargaining power, not their ability to be a good worker.
Although you are guaranteed a job, you must perform or you will get fired. Getting fired will force you to get another job and you will incur a financial penalty.
Last edited by FairnessIsGlorious; 08-07-2012 at 02:20 PM..
No. When McDonalds has to pay workers 100k they need to bring in a lot more revenue. So you would have $35 cheeseburgers.
The small minority you plan to take wages from would have negligible impact.
The subject of this thread should come from the mouth of a Miss Teen USA contestant when asked what they would do for America.
You're forgetting the part where "unearned" income is no longer permitted. In other words, confiscate (AKA steal) the earnings of all investors and all company profits.
But what's the incentive to strive for that "higher" income when it's only 4X what the minimum wage is? Why would I want to assert myself and earn $400K when I can sit on my ass and earn $115K?
Most people will not. That is why most people are not entrepreneurs, CEOs, engineers, doctors, etc. today. Not everyone is motivated to work as hard as possible in order to make as much money as possible.
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