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> Claiming it is all about taxes and transfers is severely twisting the facts. Look up the difference between the lowest paid workers and CEOs in nordic countri
by exelius 10y ago
> Claiming it is all about taxes and transfers is severely twisting the facts. Look up the difference between the lowest paid workers and CEOs in nordic countries compared to the US. It is a huge difference.
But that's likely due to the system of taxes and transfers. The government subsidizes low-end jobs in the form of minimum wage laws; and it makes far less sense for a company to continue to hike the pay of its CEO when 75% of that money goes directly to the government in the form of taxes.
- nerdponx 10y agoSorry to nitpick, but a minimum wage isn't a subsidy, it's a price floor. Different things.
- bjelkeman-again 10y agoFYI there are no minimum wage laws in the Nordic countries [1], including Denmark. But there are collective bargaining processes with unions which effectively set a minimum floor for a lot of jobs. [1] https://en.wikipedia.org/wiki/List_of_minimum_wages_by_country https://en.wikipedia.org/wiki/List_of_minimum_wages_by_count...