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View Diary: Economics Works Backwards Now (192 comments)

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  •  Wage Ratio (0+ / 0-)

    I would like to see a fixed wage ration between CEO and workers. For example, a business/corporation's top earner could make no more than x% more than the lowest paid employee, with a living wage for the lowest paid employee. If the boss wants a raise, everyone gets a raise.

    Yes, a government mandate. That's what government is for: to protect ordinary people from the excessive greed and power of the wealthy and corporations. The rich can take care of themselves. Multinational corporations have way too much money and power. It's ordinary citizens who need the protection of government.

    "Shared pain is pain lessened; shared joy is joy increased."--Spider Robinson

    by Maggie Pax on Tue Sep 13, 2011 at 01:04:33 PM PDT

    [ Parent ]

    •  While this idea has virtues (1+ / 0-)
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      opinionated

      It doesn't address the long term problem. What happens once those advanced robots start taking over all those menial tasks that the lowest wage earners do now? When a company that currently requires 100 employees only requires 10? The CEO at that point can easily pay his remaining employees what ever rate he requires to retain his insane compensations additionally this sort of thing gets worked around via stock options and other less obvious forms of compensation.

      A better control IMO would be steeply progressive tax rates. Say from the current 35% up to 1 million then  50% from 1 million to 5 million 70% from 5 million to 10 million and 90% from 10 million and beyond. Apply that tax to all incomes regardless of source (aka no special treatment for capital gains), under such a system it rapidly becomes pointless to pay a CEO an obscene amount. and those who still insist on trying to feather their nests get to help finance the public works and welfare programs that keep the masses fed, housed, entertained happy; rather than hungry, homeless restless and pissed off building guillotines out of abandoned manufacturing equipment.

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