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Minimum wage for elected officials sounds good on paper. Michael Bloomberg would not mind. However, how does this work for corporate executives? When you say pa

• m0th87 12y ago
  Also it arguably opens the doors for corruption. Bloomberg ran on a campaign of "I'm so rich, no one can bribe me." If a non-billionaire politician receives the minimum wage, they could be more susceptible to financial incentives.
• logfromblammo 12y ago
  No, it does not. The minimum wage is set by elected officials. What do you think will happen when they set the minimum wage to whatever it is they want to be paid? How about instead, you set their pay to a percentile marker for the income of their constituents, entirely disregarding income received from any government, including those without wage or salary income. For households with spouses and dependants and such, each member has income equal to the total income of the household divided by the number of members. So if 20% of households have no one working at all (as it is now), elected officials could significantly increase their own pay just by finding a job for just one person in each of those households. Increasing the income of the top 1% would not produce any additional pay. If 51% of households are broke or on the dole, elected officials paid at 50th %ile would get $0. They get to rely on welfare too, just like everyone else. And really, if that's the case, they're lucky enough to not be paid with bullets to the head for their "service".