In 100 years, your maximum salary will be 1 million a year and the most anyone can inherit in one year will be 1 million.
A one million cap won't curb ambition, it will encourage the 99% not on this money to try and join the 'millionaires' club. You only need so much money, and it's been well researched and proven that other factor contribute more to happiness than money.
So cap salaries at one million, and give those earning over that a choice in how the extra money they contributed is spent. How about a bridge with your name on it, or choosing to put it towards homelessness in your area? And make this information public, and celebrate the prople who worked hard and became successful and made their community a better place.
Perhaps even more importantly, cap inheritance at 1 million per oerson, so bill gates kids for example, get a massive head start in life, but must make a go of their own lives too, and not unfairly tie the money up.
The redistribution of wealth would result in less crime and poverty, which would make those earning more feel safer and happier than if they had this extra unnecessary cash.
This is already under way, the 99% vote for the laws, not the 1% who have 40% of the worlds wealth. Expect to see real change soon.
I appreciate this will be hardest for Americans to accept due to a misunderstanding of what it is to b democratic, and the old 'pursuit of happiness' value, which Is great and all. But a statem that means, for example, that Bill Gates can earn 5 billion, and that money stays in his family forever while millions of Americans struggle? That's not a system to uphold.
I believe there should be a limit on people's maximum salaries. I think this would greatly benefit the United States as we have a serious income gap between the rich and the poor. I think this would help the new health care system function better and I think it would essentially make people rise out of poverty. This would be a decent option or putting a profit gap on companies might work as well.
I do think that there should be a limit on people's salaries. I think something like one million would be a good start. There are quite a few people who make much more than that a year. I think that all of the extra money should be put into a fund to give to the poor.
For instance, Heads of companies (CEO's) or whatever should be able to get no more than lets say 15x the average salary of the lowest paid employee. So if you are the CEO of I don't know Walmart, then if your lowest paid employee in the books is paid 20000 a year, your maximum salary would be 300000 including bonuses and other perks. If you want a raise, do it from the bottom up. This would go for any purchases from outside also. So if corporations want to purchase clothes from taiwan, their salary would have to be in pace with the rule also. If found in contempt, the lowest penalty would be lets say 15% the salary of the CEO per attempt. If they want to do business elsewhere then they have to follow this rule. Without these rules, it is too easy to allow for companies to become corrupt.
Rather than limit people's salaries, start taxing people that have more than $100 million is assets at a 90% rate. This is more than enough money to ensure prosperity for generations. It give other people a chance to get their piece of the pie too. There's only so much money to go around, and it's not fair for it to be hoarded in so few hands.
No salary limits should be placed upon private workers in the United States. Limiting their earnings goes in the face of capitalism and what America stands for. We shouldn't limit salaries or distribute wealth to the people earning less money. In reality, the current capatalist system works better than the alternatives.
Putting a cap on how much people can make would be the end of capitalism. The majority of people that are rich worked hard to get where they are at, they didn't just stumble across a fortune one day. It is ambition that drives people to make millions, and limiting how far someone can go in life just curbs that ambition. People need to stop trying to punish people for being successful and need to start trying to be successful themselves.
Free market principles determine salaries of people in the free world. As such, there should be no limit on people's maximum salaries. Yes, a huge salary in the hundreds of millions of dollars does exacerbate the disparity of incomes between the super-rich and ultra-poor. However, those people with large salaries usually earn them unless they are inherited.
Why would a person want a limited amount of salary? Isn't a democratic society is where people have freedom over what they do and what they earn? The harder you work, the higher the salary would be. If someone is a CEO which puts time and effort into his company, doesn't he need to get a higher salary? He is working hard and wouldn't it be fair if his salary was raised? The amount of salary depends on your job, amount of effort and the intelligence. None would want to have a limited salary. Hogie 75 how would you feel if you are the ceo and you work hard but have a limitation to your salary? Would you be satisfied? Huh? There should be no regulation of the limit of any salary. If a man deserves a good salary, he should deserve it. But if he does not put in effort, he doesn't deserve it. Democratic society should not have a limit to their salary even if you are a boss of a successful company. Republic of Korea, United states of America,Great Britain,Republic of Germany, etc all these countries have something in common. All them are Democratic Republic and also well developed. Who would not know Samsung is? Apple? BMW? Rolls Royce? These countries do not have regulations. But the communist state have a limitation. Such as Democratic People's Republic of Korea, Former Soviet Union and People's Republic of china. These countries have limitation which now china had turned into a westernizing economy, also soviet union but North Korea is Still poor and it is all because of limitation of freedom of each people's salary.