I think we should be setting these max/min wages as relative values, not absolute values. Otherwise we have to pass laws every time the min wage needs to be adjusted. And we’ll end up with stagnation.
For example, a person’s wage can only be X% higher than the lowest wage of someone a step below them in hierarchy. Including contractors and suppliers so they can’t skirt or find loopholes.
There still might be some haywire incentives that require more thought, but it should hopefully encourage labor to be valued at an appropriate proportion of value. Either everyone makes good money, or nobody does.
Should also probably deincentivize layoffs, stock buybacks, etc. at the cost of shareholder earnings / value.
trashgirlfriend@lemmy.world 5 months ago
The people who make that kind of money don’t make it through wages but other compensation.
Valmond@lemmy.world 5 months ago
Yes, so block that at a maximum rate (too)?
trashgirlfriend@lemmy.world 5 months ago
I am not an accountant but from what I know, taxing stuff like compensation in the form of stocks is pretty hard to do.
I’m not disagreeing with you, the system is just rigged in favor of very wealthy people.
victorz@lemmy.world 5 months ago
I think that’s the whole point we’re trying to change in this discussion. 👍
Valmond@lemmy.world 5 months ago
Not with that attitude ;-)
Doomsider@lemmy.world 5 months ago
You just make it illegal to compensate in this form. Problem solved.
surph_ninja@lemmy.world 5 months ago
Which is why we need to not allow borrowing against assets to get over the maximum.