Maximum Wage, worked out as multiple of NATIONAL average wage.
“Have a maximum wage set at ten times the average wage. So if the greedy want more, they have to improve everyone’s life !”
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2. How does it fit with Compass’ core beliefs of equality, solidarity, democracy, freedom, sustainability and well being?
It produces more financial equality, makes those in charge more connected to the rest of us, and helps sustainability by encouraging people to realise that only so much wealth is necessary, and other factors are relevant to quality of life.
3. How does it build the institutions of social democracy, like social groups and collective and cooperative forms of ownership and control?
Making sure that people on lower incomes benefit from the profits of the organisations for which they work, is in effect a form of de facto collective ownership.
4. How much will it cost or raise and where will any cost come from?
It won’t cost anything, as it is simply a redistribution.
5. Which groups in the electorate are likely to support or oppose this measure? Is there any polling evidence you have on this?
A great majority of the population is likely to support it, as there has been much publicity given lately to large bonuses given to departing incompetents.
Those likely to oppose are those whose own salaries would be cut and those who believe that it would reduce wealth creation in general.
6. Is there a place or country where it’s worked? Please provide some information.
Not to my knowledge. I’m unaware of any country with a sufficient commitment to equality to have tried.
7. What are the three main arguments in favour/against it?
For:
It’s obviously just, fair and reasonable.
It doesn’t stop people having very high incomes, just outrageous ones.
It gets the driven greedy people working on behalf of everyone.
Against:
The argument that business leaders of a certain stripe would seek positions elsewhere.
Comments
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See yesterday’s Guardian: http://www.guardian.co.uk/commentisfree/2009/feb/13/bank-executives-creditcrunch-wages.
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Mike
Another couple of against points:
This policy would demotivate the successful and enterprising business leaders from growing their businesses. They would therefore be less likely to employ more people causing overall unemployment to rise.
Foreign businesses who’s business leaders rewards are not restricted would be more motivated and more likely to improve and grow their businesses and therefore UK businesses could quickly become uncompetitive in the global market.
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I usually don
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February 15th, 2009 at 9:09 pm
See yesterday’s Guardian: http://www.guardian.co.uk/commentisfree/2009/feb/13/bank-executives-creditcrunch-wages.
February 8th, 2010 at 11:34 am
I usually don