Maximum Wage: $2 Billion Dollar Wealth Cap. Should the wealth (salary) cap be put on the Rich in America?

[Thegooch]

Maximum wage - Wikipedia

en.m.wikipedia.org

https://www.salon.com/2020/07/26/a-cap-on-income-might-seem-radical--but-it-was-once-a-mainstream-idea-in-american-politics/

Wouldn't a salary cap for the wealthy be a good idea? No one needs more than 5 million a year.

Answer (1 of 10): Yes and no. The actual effective salary cap is a million, due to it becoming non deductible as a business expense and thus taxed twice -- if corporate individual and employment taxes are all being paid on this income the tax rate would be over 70%. However there is a laundry li...

www.quora.com

Maximum Wage: What It Is, How It Works, and Examples

A maximum wage is a price ceiling on compensation paid to employees.

www.investopedia.com

What if the U.S. had a national maximum wage?

The average CEO makes hundreds of times more money than the average worker. A maximum wage policy would narrow that gap.

www.marketplace.org

Letter to the editor: Let’s weigh the pros and cons of a maximum wage

A maximum wage is a price ceiling imposed on how much compensation a worker can receive in a given period of time. It can be imposed as a legal limit or as a social norm. Advocates of a maximum wage argue that it would reduce income inequality and promote social justice. It would also help […]

www.pressherald.com

 

[850credit]

Yes

 

[killagram]

Maximum wage - Wikipedia

en.m.wikipedia.org

https://www.salon.com/2020/07/26/a-cap-on-income-might-seem-radical--but-it-was-once-a-mainstream-idea-in-american-politics/

Wouldn't a salary cap for the wealthy be a good idea? No one needs more than 5 million a year.

Answer (1 of 10): Yes and no. The actual effective salary cap is a million, due to it becoming non deductible as a business expense and thus taxed twice -- if corporate individual and employment taxes are all being paid on this income the tax rate would be over 70%. However there is a laundry li...

www.quora.com

Maximum Wage: What It Is, How It Works, and Examples

A maximum wage is a price ceiling on compensation paid to employees.

www.investopedia.com

What if the U.S. had a national maximum wage?

The average CEO makes hundreds of times more money than the average worker. A maximum wage policy would narrow that gap.

www.marketplace.org

Letter to the editor: Let’s weigh the pros and cons of a maximum wage

A maximum wage is a price ceiling imposed on how much compensation a worker can receive in a given period of time. It can be imposed as a legal limit or as a social norm. Advocates of a maximum wage argue that it would reduce income inequality and promote social justice. It would also help […]

www.pressherald.com

I don't think so..it's already enough lazy muffuckaz round chea...push it to the limit..brah

 

[Thegooch]

I don't think so..it's already enough lazy muffuckaz round chea...push it to the limit..brah

These rich MFers ain't lazy?

Case in point Arnold Schwarzenegger

Kid with Blue blood wife: Fat slob kit

Kid with maid that probably walked a few hundred miles to get to LA: Looks like Arnold from Conan the Barbarian.

https://i.ytimg.com/vi/LUoP1OW596Q/mqdefault.jpg

 

[CPT Callamity]

Try this and all the people that dream of being billionaires will be outraged and say it's socialism.
You'll have poor mufuckas thinking they have to stop this because one day...they just might be wealthy with a little luck and hard work.

 

[The Untouchable GDFOLKS]

no

 

[babygwirl18]

Wealthy people don’t make their money from “wages.” That’s why most of the “raise tax rates” ideas don’t work to level the playing field.

Most extremely wealthy people make their money from asset appreciation. Raising tax rates doesn’t really effect them, it effects high wage earners (like sports players).

The real way to do what you ask is for you to tax people’s wealth. But that raises a whole host of issues like it would force the extremely wealthy to sell their assets every year to pay taxes. That would depress the market and effect everyone.

For example, if every year Elon Mush had to sell 25% of his Tesla stock to pay taxes, In a few years he’d no longer have control of the company and the stock would probably tank.

Another example is if you own real estate, you’d have to sell 25% of it each year.

Also as an aside, I’m pretty sure the wealth tax that I wrote about above is not constitutional and would need an amendment.

I agree with your sentiments. Just not sure about your means of accomplishing them.

 

[Thegooch]

Try this and all the people that dream of being billionaires will be outraged and say it's socialism.
You'll have poor mufuckas thinking they have to stop this because one day...they just might be wealthy with a little luck and hard work.

LOL!! The American "Dream"

How the fuck is the lottery gonna sell all those tickets and scratch offs. That crowd might go nuts if you take away that dream.

 

[^SpiderMan^]

No. Not unless the money is used to fund Reperations.

 

[King Mob]

What's the point? Like someone mentioned, do people this rich even pull in a wage? Will capital gains and similar compensation be consider wages for tax purposes? Is this limit going to apply to businesses too? all of the over 2 bill can go through business and then be used in (creative) accounting - it's already going on?

 

[Heavenlywings77]

That sounds like communism

 

[largebillsonlyplease]

The only cap should be on stocks and the stock market

If you created the idea you get unlimited money

If you just investing and stocking on the money then you can only make so much off of it

 

[lexdiamonnyc]

cool, so just keep it under $2billion in the US and keep the rest spread around the world.

 

[Thegooch]

That sounds like communism

Why aren't unions and sports leagues considered communism.

Aren't taxes of any form communism/socialism?

Schools, roads, and police are all part of socialism.

What good is can unfettered capitalism doing to Russia right now? One man has all the money and the power. It wasn't like that in the USSR. The Prime Minister was a tool a a greater party. The same was true in China. Capitalism might have ultimately killed the country.

What value do Billionaires bring to the economy?

 

[RoomService]

No

 

[ZuluSam]

No...just raise the tax rate back to what it was when we had a thriving middle class.

 

[Mrfreddygoodbud]

Such mind fuckery...

The super wealthy got the system wired so

They can benefit and profit from our collective energy.all the while making us think

They are doing us a favor pimping our collective energy.

Hey a person making less than forty thousand dollars a year.

Will have paid a thousand times more in taxes

Than an Elon musk worth billions.

The game is twisted in their favor..this article.supports their mind fuckery...

It's bullshit!!

 

[TheFuser]

No...just raise the tax rate back to what it was when we had a thriving middle class.

This. Make your money, but all these fucking loopholes so they don't have to pay taxes is some bullshit. Tax the fuck outta them and give them a trophy for winning capitalism.

 

[Thegooch]

If a cap is instituted, what do you think would happen and were should the money go?

 

[Supersav]

That sounds like communism

You clearly don't understand what communism is

 

[Mrfreddygoodbud]

I mean me personally, you dont really need more than 21 milly,

to set yourself and your seeds up for a comfortable life.

anything over a billion is just excessive but THATS JUST ME....

that being said, the only cap, should be a moral one within man...greed should be contained but thats a persons moral compass the state should have nothing to do with it!!

that being said

One should be allowed to make as much as one wants....!!!

anything else does not belong in America!!