Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Nonsense. But assume it happened- CEO's would just increase pay to $100 million to net $10 million, and pass the costs to poor people.
What the hell. No they wouldn't. They can only extend their salary as much as the board will let them. That said, I don't agree that a tax bracket for income should be over 50% max, 40% would be preferable.
Increasing minimum wage is inflation, and inflation is redistribution from savers or retirees to those living paycheck to paycheck.
Lol, and a max wage is a sure way to curb inflation. In fact, I'm sure implementing a max wage would solve Argentina's inflation problems. Minimum wage does a whole bunch of other things, and it's not a 1:1 inflation as I've stated before.
Quote:
Originally Posted by HiFi
In the 1950s capital gains and deductions was how the rich made their money. There was less income gap on account of the fact that our workforce was of a much higher quality across the board. These were hard working high achieving strong charactered individuals bred from solid family upbringings.
That's why productivity goes up every year??? It seems to me that workers today are about 2x as productive as they used to be.
What the hell. No they wouldn't. They can only extend their salary as much as the board will let them. That said, I don't agree that a tax bracket for income should be over 50% max, 40% would be preferable.
Bill and Hillary made over $25,000,000 so far this year. What should their maximum wage have been? They probably earned at least minimum wage, but (to use the lefts terms) do they deserve $300,000 per speech, or millions per year? Why haven't they given away everything over a living wage so someone (or some 1,000) could have a better life? It couldn't be hypocrisy could it?
Think about it. Labor is such a huge component of companies costs that any fall in cost will result in lower prices back to the consumer. If labor was capped at $50 an hour, companies are just going to pass their millions of dollars that they used to pay higher management right on back to customers.
And even more, because labor would be relatively less expensive, companies and individuals would be much more likely to hire more people. The capital to labor ratio would change in favor of labor being more valuable and we'd see unemployment drop like a rock, possibly even into the negatives, just drawing those who don't really want to work out into the labor force because they are so demanded.
There's no two ways around it. The laws of supply and demand always show through. Any time there is a price ceiling, there is a shortage. A shortage means that there WILL be an increase in demand for labor. That's the way supply and demand work. Likewise, a price ceiling means lower labor costs, and we know that all firms are competitive and will through the free market be bid down to the point where their economic return is 0.
Come on guys, this is basic ECON 101.
So why gain the education, provide the hard work and sacrifice, and innovation required to make over $50/hr?
It's "Economics 101".
If someone told me I would be working for $50/hr, my practice would go bankrupt and I would stop practicing. It is pretty simple.
Just raise the top marginal tax rate to 90%. Same effect.
Brilliant.
The uber rich (who rely upon investment income only or tax exempt trusts) would be unaffected.
The middle class and upper middle class would be slaughtered. This, of course, is what liberals want, as they perceive the middle class as an 'enemy". Liberal policy is designed to reduce the size of the middle class and increase the number of poor, dependent citizens. See "The Curly Effect"and perhaps you will wake up (unlikely).
I personally cut my income when Obama increased the top end tax rates (I have more time off and am pleased with this). Now, the feds receive less from me than they did with the lower rates. Why work hard for the benefit of a bunch of dead beats who did not make the same sacrifices? Are you nuts?
It is HUMAN NATURE- this is why the concept of slavery is so objectionable to us- NO MAN WANTS TO WORK FOR THE PLEASURE OF ANOTHER. THIS IS WHY SOCIALISM HAS NEVER, AND WILL NEVER, WORK.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
