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Yet people still hate the thought of a "maximum wage" or limit to wealth. Everyone should have a life of comfort, not just those who won the lottery or were bo
by candiddevmike 1y ago
Yet people still hate the thought of a "maximum wage" or limit to wealth. Everyone should have a life of comfort, not just those who won the lottery or were born into it.
- andrewrn 1y agoThe problem with a maximum wage is deciding what that maximum is. Outsides returns are what incentivize people to start companies. A earning cap will cap that incentive accordingly.
- bjourne 1y agoProgressive tax scales solves that problem neatly.
- ta1243 1y agoTax on income keeps wealth with people who have wealth, and people without wealth wage slaves. If you rent a $10m house you pay $500k a year for it. With 50% tax you'd have to earn $1m a year to pay the rent. If you own a $10m house you pay no rent, and have to earn $0 a year to live there.
- bjourne 1y agoWealth tax is a thing.
- mathverse 1y agoThe maximum wealth should be capped exactly where it becomes a tool to buy or assert influence over democracy.
- SpicyLemonZest 1y agoPeople hate the thought because it's repeatedly failed to work historically, with even explicitly Marxist states deciding that it's best to allow some billionaires.
- refurb 1y agoIt’s easy to determine what income would be if everyone made the same amount - average income, which is $72,000 per worker. That includes everyone who filed a tax return from the kid working at McDonald’s to Warren Buffet. Not sure what you’d call a comfortable life but a single mom making $72,000 per year would be struggling in many major cities.
- al_borland 1y agoPeople don’t become ultra wealthy from a high income, they generally own a business that increases in value.
- refurb 1y agoSure, but the only way they can access that wealth is to sell ownership, which would produce income. So all those people who sold $100M businesses are included in that $72,000 figure.
- blharr 1y agoWhat a complete non-sequitur. A wealth cap of, say, a billion dollars would have none of the same implications
- refurb 1y agoIt’s not a non-sequitor. The comment I replied to referenced a “wealth cap” and “redistribution” so “everyone could have a comfortable life”. My point is that take to an extreme of equal redistribution to everyone, people would end up in a barely comfortable position.
- blharr 1y agoYour point is that too much of something to an extreme is bad. That's true of everything. What's the point?
- bluGill 1y agoSome of us believe in liberty of property and maximum wages is not compatible with that.