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What would a wage cap actually do?

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posted on Feb, 25 2016 @ 05:02 PM
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a reply to: intrptr

It's argued that this a right - That trying to change this situation in any way, other than giving the rich more money via tax breaks, etc, is bad.




posted on Feb, 25 2016 @ 05:03 PM
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originally posted by: deadlyhope
a reply to: Edumakated

Tell me what part of the process the Walton family plays in supply and demand.

Do they personally and directly...

Grow crops?

Process them and bag them?

Ship them?

The 99% of us are the suppliers, we are the demand - We are the producers, the shippers, the manufacturers.. All of it. Though this statement will likely fall on deaf ears.


The Waltons don't earn wages. They are wealthy heirs. So no, supply & demand has nothing to do with their income. However, the compensation of the executives who actually run the day to day operations of Wal-Mart is based on supply and demand.

With that said, it isn't like the Walton's billions are stuffed under mattresses. That money is invested in the market generating jobs, bank loans, investment, charities, etc both directly and indirectly.

Sam Walton created a hugely successful business and so what if his heirs are filthy rich?



posted on Feb, 25 2016 @ 05:04 PM
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originally posted by: Bluntone22
a reply to: Edumakated


But everybody likes paying a $100 a ticket to go to a football game!


Yeah, that old supply and demand thing again. Fortunately, I am not a big sports fan and only go to games when someone else is paying.



posted on Feb, 25 2016 @ 05:16 PM
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There is not a good answer. USA mega companies cannot even be compared to most other countries. CEO's of US companies are much more likely to deal with companies with greater global market share.
name a major international corp in scandinavia then even if you can compare this to the vast number of companies in the US that dominate globally. It is hard to compare the top paid US CEOs to other countries. Yes there is still lobbying problems etc but it does need to be reminded that US international corps dominate around the world. This means they will attract the best of the best CEO's.

Even nationally this would be comparing a giant US corp to a giant Euro corp.

The issue first off should be to lower corporate tax rates to 20% and eliminate loopholes, let the little guy compete on fair terms. Then we can talk about other issues like wages which also can loopholes eliminated.



posted on Feb, 25 2016 @ 05:20 PM
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in britain when they capped bankers wages, their bonuses went through the roof.
part of the reason many of our banks went bust during the last recession.



posted on Feb, 25 2016 @ 05:32 PM
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Fix the corruption by re-implementing all of the regulations that were originally set in place as checks and balances to keep crony corruption on a short leash.... and there wouldn't be any need for ludicrous things like "caps".



posted on Feb, 25 2016 @ 05:34 PM
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a reply to: CranialSponge

I can agree with this. Not sure if we've dug a hole too deep to start climbing back out - As in, the will of the people already practicing crony capitalism.

I don't believe in caps, just wondering the arguments for, against, etc.

Most seem against. Though I've heard more talk of re-implementation of old practices across several threads



posted on Feb, 25 2016 @ 05:39 PM
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This will become meaningless in ten years and for sure in 20.



posted on Feb, 25 2016 @ 05:43 PM
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a reply to: onequestion

Why do you say that? Economic widespread collapse, war, what?



posted on Feb, 25 2016 @ 06:03 PM
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a reply to: deadlyhope

Caps of any kind are a bad idea.

They're nothing but a silly bandaid fix on a much larger gaping wound. Fix the gaping wound, and there's no need for a bandaid.

And yes, the crony corruption is so out-of-control that it seems to be impossible to reverse at this point... But the truth is, anything is fixable if we put enough effort into it.

But the repairwork has to start from the top down. And unfortunately, the cronies have succeeded in convincing the little people that it needs to begin from the bottom up.

So it's obvious (to me anyway) that the first step in fixing corruption needs to be the de-programming of the average-everyday citizen who continues to drink the Crony Kool-aid™, before we can even think of moving on to the next step.

And that's no easy task, by any means.



posted on Feb, 25 2016 @ 06:28 PM
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a reply to: CranialSponge

It would be tough to teach /unteach the masses. I really don't see it happening, I see war happening. Chaos.

Maybe what forms out of the chaos, after the smoke clears, would be better than what we have now.



posted on Feb, 25 2016 @ 07:49 PM
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originally posted by: deadlyhope
a reply to: intrptr

It's argued that this a right - That trying to change this situation in any way, other than giving the rich more money via tax breaks, etc, is bad.

I don't know what to do about it, either.



posted on Feb, 25 2016 @ 07:52 PM
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a reply to: deadlyhope




It would be tough to teach /unteach the masses. I really don't see it happening, I see war happening. Chaos.


One half of me fears you may be correct.

The other half of me hopes that it doesn't have to get to that point.



posted on Feb, 25 2016 @ 11:28 PM
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a reply to: deadlyhope

I am not from the US and am a British centre lefty so my answer may be biased and not particularly applicable as economic's in the US tend to sway much of the rest of the world in general.

A wage cap of course would reduce average pay in the pockets of the working class US citizen's, this would slow inflation and keep prices low but only for a time.

It would also slow import's affecting the US trading partnership's with other nation's as they would fall down in importance as an export market for them but it could boost US export's making them a more important source of import's for these other nation's.

In time however as the wage's would not keep pace with the global inflation rate extreme poverty which is as far as I know from outside the US already at epidemic level's within the US would likely increase, however this would be offset by the creation of more low paid production job's in order to take advantage of the increased export potential of the US but this would only take effect if the policy was a long term one (which would cause massive short to medium term suffering for the US people) and only if the rate of inflation in the rest of the world remained high along with steady economy's in those country's which at the moment is not the case and given that the US economy is a globally driving force may actually not become the case anyway since it may create economic feedback as most US trading partner's would potentially be effected adversely by this if it became law.


Interesting but you really need someone with a degree and experience in international economic's for this one.

edit on 25-2-2016 by LABTECH767 because: (no reason given)



posted on Feb, 26 2016 @ 01:31 AM
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a reply to: deadlyhope

As a number of posters have pointed out a wage cap is practically unenforceable. However as you are talking hypothetically and assuming a rate of around a million as per your OP and that you can apply it to all income (salary, interest, dividends, benefits).

The short term affect would probably be as you suggest a move from larger to smaller business models. (which sounds good but would be very disruptive - big big crashes).

The major negative long term consequence would be on investment. There would be short term increase as people moved out of income paying to capital growth, however if the wage cap stays in place what is the point when you can't ever access the funds.

HighFive is correct to state it would be better just to tax sensibility. (What is sensible is of course the trillion dollar question)



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