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Old 04-17-2019, 08:29 AM
 
37 posts, read 29,701 times
Reputation: 71

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Here is an idea: Everyone who works for an organization who makes more than one million dollars in income, stock options, and bonuses would agree to give up one half of their income to the staff who make under $50K a year. What impact would that have?

This is not a discussion of the merits of fairness or inequity. This is not a discussion of the merits of a higher minimum wage or how much people should make. INSTEAD, it is a simple question of mathematics.

IF the rich in all kinds of organizations gave half of the money they made in all forms of compensation to the poor or lower middle class how much more money would the poor and lower-middle-class workers at their organization make? For example, if everyone who worked as executives at Walmart gave up half of their compensation and put it in a pot to distribute to the rank and files retail and clerical workers at that company, how much extra money would it be for the regular employees? Would it solve the problem?

Highly paid jocks and movie stars would also participate too! Your thoughts.
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Old 04-17-2019, 08:34 AM
 
27,307 posts, read 16,156,650 times
Reputation: 12100
None. They would expect more when that money ran out. The poor are not the wealthys problem nor are they mine.

Deadbeats need to be cut off from welfare. Hunger is a great motivator to find a job.
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Old 04-17-2019, 08:50 AM
 
34,301 posts, read 15,570,005 times
Reputation: 13053
None !!!
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Old 04-17-2019, 08:55 AM
 
8,196 posts, read 2,822,619 times
Reputation: 4478
If all employed Millionaires and Billionaires gave up half of their income, what impact would that have on the poor?

They would eat for a day.
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Old 04-17-2019, 08:57 AM
 
Location: Planet Telex
5,887 posts, read 3,873,394 times
Reputation: 5839
Quote:
Originally Posted by T-310 View Post
Deadbeats need to be cut off from welfare. Hunger is a great motivator to find a job.
I don't want the MAGAers Trump supporters to starve.
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Old 04-17-2019, 09:01 AM
 
Location: San Diego
18,655 posts, read 7,517,367 times
Reputation: 14917
A lot of the people you're taking the money from, would back off their efforts to make money or even quit altogether.

Why should they bother working hard when more than half (remember they still get taxed) of what they earn, is taken from them?

Then where would you get the money for tomorrow's wealth transfer program?
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Old 04-17-2019, 09:03 AM
 
Location: Chicago, IL
9,701 posts, read 5,092,352 times
Reputation: 4270
Quote:
Originally Posted by recently laid off View Post
Here is an idea: Everyone who works for an organization who makes more than one million dollars in income, stock options, and bonuses would agree to give up one half of their income to the staff who make under $50K a year. What impact would that have?

This is not a discussion of the merits of fairness or inequity. This is not a discussion of the merits of a higher minimum wage or how much people should make. INSTEAD, it is a simple question of mathematics.

IF the rich in all kinds of organizations gave half of the money they made in all forms of compensation to the poor or lower middle class how much more money would the poor and lower-middle-class workers at their organization make? For example, if everyone who worked as executives at Walmart gave up half of their compensation and put it in a pot to distribute to the rank and files retail and clerical workers at that company, how much extra money would it be for the regular employees? Would it solve the problem?

Highly paid jocks and movie stars would also participate too! Your thoughts.
Hypothetically, it would most likely supercharge the economy. People brought up poor tend to be less forward thinking about things like retirement, college funds, rainy day funds so money that would be sitting outside the economy would be injected.

Housing and rental markets would explode as people can afford to live closer to jobs or afford transportation.

Instant reduction in who qualifies for welfare.
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Old 04-17-2019, 09:15 AM
 
19,394 posts, read 6,462,072 times
Reputation: 12310
It would disincentivize anyone from gaining the skills or training to earn more than $50,000.
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Old 04-17-2019, 09:16 AM
 
Location: Denver, CO
8,750 posts, read 3,098,767 times
Reputation: 1746
All collectivism is evil.

All taxation is theft.
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Old 04-17-2019, 09:19 AM
 
1,156 posts, read 933,508 times
Reputation: 3598
Take WalMart for an example. The top five execs made about about $63M last year. Let's be crazy and assume in total there's a billion in compensation being paid to execs making a $1M plus.



Take half, that's $500M.



WalMart was over 2M employees. Let's be extra conservative and say only 1/2 of them qualify as beneficiaries of this scheme. That means 1 million people would get an extra $500 a year. Reality would be far less.
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