maximum wage -good idea?

[southeastastra]

it's insprired the best idea ever

SUPERB idea. So wish it would happen.

Rubbish! How are they going to police this? There is already a system to stop people earning 'too much'. It is called taxation. Everyone who earns over, say £50,000, gets taxed on the extra at 90%. Job done, no extra legislation required.

Not saying that it is a good idea, mind. My only chance of riches is to win the lottery and I would not want to see that capped at £50,000.

Terrible idea- would be a complete brain drain on the country.

Also, remember that rich people:

1. Pay a lot of tax
2. Buy a lot of stuff, supporting shops, manufacturers, hotels and restaurants which provides a living to the rest of us.

I dont see the benefit to the poor of reducing the impact of the rich so I find it hard to see where you're coming from.

All it would do would be to reduce taxable income.

Progressive taxation a far better idea than maximum wage IMO.

Especially at the figure being thrown around, 50k? As a single salary in London that doesn't get you far.

I dont think anyone should ever be taxed more than 50%. I dont think anyone should ever have to pay the state more than they keep themselves.

In any case, £50k is laughably low for 90% taxation and would backfire massively. Most people who earn over that are not "rich" but they do probably have a degree of mobility.

I support higher taxation for those who earn over 500k, then those who earn over 1million and then up again for those earning 5million a year.

Maximum wage and 90% taxation would kill any chance we have of developing new industry. Nobody would set up any new business, why take the risk when you can't earn more than 50k? How would we attract talent to the country? Who would pay to study for years and years to be a doctor?

Sorry, it just can't work imo.

Its an awful idea. Why penalise those that have worked hard to get salaries of that level? They will be heavily taxed as it is not to mention the money that they spend that will boost shops etc.

There are plenty of areas where the government can save money rather than be lazy and let high earners take the hit.