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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.
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.
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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