China’s Financial Elite Face $400,000 Pay Caps, Bonus Clawbacks (www.bloomberg.com)

submitted 3 months ago by schizoidman@lemmy.ml to c/world@lemmy.world

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[-] maxinstuff@lemmy.world 14 points 3 months ago

Communists!

Oh wait…

[-] BrianTheeBiscuiteer@lemmy.world 10 points 3 months ago

That's one way to basically ensure the US never imposes pay caps on executives.

[-] Toes@ani.social 10 points 3 months ago

Imagine a world where you cap pay to 5x the lowest paid employee.

[-] foggy@lemmy.world 4 points 3 months ago

Bro I'd literally be impressed if we set a 1000x cap.

100x would be a reasonable utopian goal from where we are today.

5x is hard to even fathom. Especially when there exists a ~3x gap in minimum wages across the country.

I propose the minimum wage goes to $250/hr. Maximum wage goes to $2500/hr. You can make between 500k and 5m a year. The only catch is that 60% of it gets taxed up to 1M And 80% gets taxed beyond that. If you somehow do get more that $5M in a year, every dollar after 5M is taxed at a rate of 99.99%.

So you can make 100k - 200k after taxes and be poor.

You can make 200k - 1M after taxes and be the upper middle class.

Musks 46B would be... 5.6M after all taxes applied.

That seems reasonable.

[-] Toes@ani.social 1 points 3 months ago

We just need a bowser revolution and redistribute wealth.

this post was submitted on 27 Jun 2024

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