Truesee's Daily Wonder

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Monday, April 16, 2012

 

Taxes—Who Really Is Paying Up

http://online.wsj.com/article/SB10001424052702304356604577338122267919032.html?mod=WSJ_hp_mostpop_read


Comments:
For income taxes, a graduated tax is best. Seems fair that the richest should pay a higher rate than the rest. But only for income not for investments.

We also don't need a minimum wage law, we need a maximum wage law. Many people are OVER paid for their job. Union workers in particular. Celebrities. Government workers. CEOs. Etc;   I don't care how good a person is, they don't need to "win the lottery" every year with their income.

If $400,000 is enough for the President of the U.S., then that is good enough for the top wage earners as well.
A maximum wage law?

So no matter how good you do, no matter how successful you are, no matter how you benefit society, no matter what you invent, no matter if you cure cancer, you can only make $400,000 if you do it in this country?

And do you think those people would actually stay in this country?

If that's not a perfect plan to get rid of the best and brightest, I don't know what is.
"And do you think those people would actually stay in this country?"

Well, just how much different is it than now? There are a huge number of research scientists, right now, that make $x.xx per year (less than $400,000) that could discover a cure for cancer.

They would get nothing more because the patent/copyright/ownership would belong to the company they work for. They stay. And work for a lot less than $400K.

...and, why do you think doctors/nurses come from foreign countries to here? Because of the extremely higher wages than they would get for similar work in their own countries. With a cap of $400,000, we would still be more than on par with foreign countries.

We can't have such a wide gap between the rich and [the middle class and poor]. Unbridled capitalism will lead to revolution.

I might add that I bet that I could have run GM for $400,000 and done a better job than those high priced college educated idiots that drove it to bankruptcy. Certainly would not have done worse!

You'll always find smart, hard working people that can do as well as those getting millions of dollars per year.

I'm a consumer first - I want lower prices. Lower wages=Lower prices. That will bring all kinds of jobs BACK to this country!
Nixon tried wage & price freeze. That did not work out so well.
When I ran a construction buisness back in the 70s I paid the workers a tad more than the going rate to prevent job hoppers. My estimating of jobs was a tad less than the competition to keep jobs available ahead to prevent slack time.
So when Nixon put in wage and price controls I pulled out my job and wage estimators manual and done the math and found I could hire for less within the legal limit. Also I would be able to increase job estimates to book rate. Results, more profit to me.
So free market wage and price worked better for the worker as well as the customer.
@truecritic

"...and, why do you think doctors/nurses come from foreign countries to here? Because of the extremely higher wages than they would get for similar work in their own countries."

Those are your words - making my point.
People will go where they are best compensated for their efforts.
The market will determine the worth of a man's labor, invention or innovation.
We don't need the criminal schmucks in Washington dictating the confines and limits of a free market and a free society.

"We don't need the criminal schmucks in Washington dictating the confines and limits of a free market and a free society."

They already do for minimum wage.

The wage for President is already dictated. ALL government jobs, for that matter. Several (most) government employees are overpaid!   

Industry itself dictates what wage you will get for each type of job.   When you apply at McDonald's, you don't go in with an agent and negotiate your wages - you get the $8 per hour that McDonald's tells you they will pay. The CEO should be hired the same way.

All I am saying is that there is "market error." We are grossly overpaying many people and there should be a limit.

When I buy a car, I don't want my money going for some overpriced union worker or overpriced CEO. As much as I might like Tom Cruise, I don't contribute to him making $20 million per movie (or whatever he makes).
The market itself is the equalizer.

Trusting in or believing government can or will do anything right is pure folly.

They have a well documented track record of bungling almost everything they touch.
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