We have a minimum wage, why not a maximum?
April 6th 2009 01:36
The concept of a minimum wage is fairly well known and widely accepted, save from a few on the radical right. Still, the idea of placing a cap on the top is something foreign to many. But alas, there is restlessness afoot. More and more people are starting to realize just how badly the corporate structure has screwed them.
Real wages for real workers have stagnated at best and gone down for most since the dismal failure called trickle down economics took root in the 1980s. Millions of hardworking Americans have little or no health care to show for their efforts. Of course, the news hasn't been all bad.
The already wealthy have seen their share of America increase dramatically. The chosen few who find themselves among the top tiers of corporate elitism have absolutely nothing to complain about. The American economy has shifted to the point where the top one percent of Americans controls damn near one half of the wealth of America. Can't complain if you're doing that well, eh?
A maximum wage, should it be enacted, shouldn't be perceived as punitive, though. It shouldn't be taken as aimed at that top one percent or others, but as an attempt to bring some sort of social justice to the pay structure. Can anyone tell me, with a straight face, that any CEO could possibly be worth more than 500 times what his employees make? Can anyone tell me, again with a straight face, that a failing company should pay out millions to bad executives while slashing it's workforce?
A good amount would have to be open for discussion, of course. I might think something around 50 times the minimum wage would be a good ceiling for the top amount. And minimum should be raised to be around 10 dollars an hour. If that's done, a CEO could make as much as a 500.00 per hour equivalent on his or her salary. Enough that anyone should be able to get by, I would think.
But what if the top tier wanted to make more? There would be a way. They could fight to raise the minimum wage. Make it so if one went up, so would the other. Rising tide lifting all boats, indeed!
And there would have to be exceptions. A groundbreaking scientific discovery, for example, could be granted a big cash award. Other things determined to be to the betterment of society as a whole could be rewarded also.
In my experience I have observed that the higher a person actually climbs up the managerial ladder, the easier the job gets. And one only look at the recent spate of bank failures and corporate malfeasance to understand that being a CEO isn't exactly an indicator of intelligence or ability. More often, I think, it is indicative of the ability to absolutely dismiss your conscience, but that's just an opinion.
Look at entertainment and sports too. Does anyone seriously think no one would play pro sports if they weren't paid millions a year? Or no movies would get made, because no actors agreed to work? Everything would go on. And there would be more opportunity. And most importantly, there would be a resurgent middle class, the real engine behind economic growth.
Here's a question - what is wrong with my proposal? And if you don't like it, why? Why can't we establish a roof and a floor? Why can't we say no company can suppress the rights of workers while the leadership gorges at the cash trough?
Real wages for real workers have stagnated at best and gone down for most since the dismal failure called trickle down economics took root in the 1980s. Millions of hardworking Americans have little or no health care to show for their efforts. Of course, the news hasn't been all bad.
The already wealthy have seen their share of America increase dramatically. The chosen few who find themselves among the top tiers of corporate elitism have absolutely nothing to complain about. The American economy has shifted to the point where the top one percent of Americans controls damn near one half of the wealth of America. Can't complain if you're doing that well, eh?
A maximum wage, should it be enacted, shouldn't be perceived as punitive, though. It shouldn't be taken as aimed at that top one percent or others, but as an attempt to bring some sort of social justice to the pay structure. Can anyone tell me, with a straight face, that any CEO could possibly be worth more than 500 times what his employees make? Can anyone tell me, again with a straight face, that a failing company should pay out millions to bad executives while slashing it's workforce?
A good amount would have to be open for discussion, of course. I might think something around 50 times the minimum wage would be a good ceiling for the top amount. And minimum should be raised to be around 10 dollars an hour. If that's done, a CEO could make as much as a 500.00 per hour equivalent on his or her salary. Enough that anyone should be able to get by, I would think.
But what if the top tier wanted to make more? There would be a way. They could fight to raise the minimum wage. Make it so if one went up, so would the other. Rising tide lifting all boats, indeed!
And there would have to be exceptions. A groundbreaking scientific discovery, for example, could be granted a big cash award. Other things determined to be to the betterment of society as a whole could be rewarded also.
In my experience I have observed that the higher a person actually climbs up the managerial ladder, the easier the job gets. And one only look at the recent spate of bank failures and corporate malfeasance to understand that being a CEO isn't exactly an indicator of intelligence or ability. More often, I think, it is indicative of the ability to absolutely dismiss your conscience, but that's just an opinion.
Look at entertainment and sports too. Does anyone seriously think no one would play pro sports if they weren't paid millions a year? Or no movies would get made, because no actors agreed to work? Everything would go on. And there would be more opportunity. And most importantly, there would be a resurgent middle class, the real engine behind economic growth.
Here's a question - what is wrong with my proposal? And if you don't like it, why? Why can't we establish a roof and a floor? Why can't we say no company can suppress the rights of workers while the leadership gorges at the cash trough?
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Comment by Morgan Bell
Science News
Deep Pencil
Business News
Movie Train
interesting stat . . . i wonder if the everyday joe is aware of the disparity?
they would have to be achieving some incrible results to deserve such a paycheque
absolutely not!
i wonder if anyone would actually admit to holding such a view?
Comment by Jeff Musall
Comment by RubySoho
Music Zone
Thought Zone
absolutely not!
i wonder if anyone would actually admit to holding such a view?
Yes, some people on Orble do. The writer on PoliticsRealm has argued that bank execs deserve their wages and their millions in cash bonuses because they are their brightest workers and they don't want to lose them to the competition. These are the same execs that ran the banks i to the ground remember....
I can't believe America's minimum wage is still under $10 an hour. And some claim it's too high.
Comment by Jeff Musall
Comment by Morgan Bell
Science News
Deep Pencil
Business News
Movie Train
some people are so out of touch with reality
those banks should be glad to lose such incompetant staff
Comment by rickb_georgia
I am also in favor of controlling perks enjoyed by management. Driving a company car? Okay, maximum tax deduction is a 4 door Chevy. The difference is post-tax if you want to upgrade to a Caddy. The country club membership is a part of the 20X maximum or post tax out of the owners’ pocket. Entertainment … rigidly documented and controlled. Skyboxes at the Pro Football stadium are not essential entertainment … again, take it out of the owners’ after tax share.
My model would include government employees, pro athletes, doctors, lawyers, Congressmen, judges … everyone.
I realize this is sort of like performing brain surgery with an axe, but it can be refined somewhat.
Teachers, Firemen and Police officers are of much more value to our society than any professional athlete and need to be recognized for their efforts. I guess under my model accountants are going to be pretty important too. But never, never mortgage bankers; based on recent results looks to me like they should fall into the category of unskilled, minimum wage employees.
For the record, I have been in the labor market over 50 years. Minimum wage when I first went to work was 85 cents per hour, gas was 29 cents a gallon and cigarettes were 25 cents a pack. Most of my working life has been in management and I worked a lot harder as a manager than I ever have as an hourly paid employee … but never 50 times harder. I also feel that an employee should be paid relative to productivity, not just for clocking in and out and every person has a right to work, for a fair wage, without being forced into a union.
Comment by Jeff Musall
Comment by RubySoho
Music Zone
Thought Zone