Should there be a Maximum Wage.?

[vivandorron]

There is legislation which ensures that all employees are paid a minimum amount for their services. Consequently, I hold the view that Government could pass an Act which would put an end to the exorbitant salaries and bonuses which are being paid to some individuals; a number of whom are avoiding taxes by being declared as Residents Outside of the U.K.

However, there could be too many M.P.s who fall into the very high salary bracket, with their additional aside interests, for such a proposition to pass through Parliament.

Ron.

[mollykins]

But then what about self employed people, after they earn so much in a year, can they not work anymore?

[DTCwordfan]

Time to emigrate I think..............

Last one out switch off the lights.

[ummmm]

Should their be a maximum wage...NO

Some people have worked extremely hard to get where they are. Often to the detriment of their families.

[jackthehat]

Self-employed people aren't employees, molly............for heavens sake !

[factor-fiction]

It wouldn't work. Ways would be found round it.
What would the benefit be anyway?

[vivandorron]

mollykinns....It is possible to work for nothing. If one reached the maximum wage for a twelvemonth the individually self employed person could provide a free service to, shall we say, Handicapped people.

DT..I think I;m a little too old to emigrate.:-)

ummmm...I think I worked hard all my life.......but I never had a 9million pound bonus, as I believe the boss of Barclays Bank is going to get for what his staff have done to keep him where he is.

jackthehat....I agree, and hopefully molly will now agree with us.

factor30...I acknowledge that some folk will always find a legal way around things; although they may know that, morally, they are wrong. However, a maximum wage would distribute wealth more evenly throughout the country and perhaps more Tax would be put into the State's Coffers.

Ron

[dr b]

Didn't the UK have something very close to an effective maximum wage until 1979? A 90% marginal tax rate gets you close. A 100% tax rate on income

[dr b]

(CONT!) above a certain limit is effectively a maximum wage. How did that work out?

[factor-fiction]

Surely if earnings were capped this would reduce the amount of tax brought in. The marginal tax rate on high earnings is 50%

[ummmm]

Alright Ron...but did you have the qualifications, the ambition, the determination and the drive?

I know I didn't...I was never prepared to work 18 hours a day and sacrifice having fun as many of the massively high earners have.

[DaisyNonna]

So who gets to pay the electricity bill for the lights? (Wiping fingerprints off light switch)

[DTCwordfan]

lol at the suing!

[vivandorron]

Tax levels can be adjusted proportionate to earnings without a loss of income to the Treasury. However it is difficult to get what is due tax to the U.K. Government from people who supposedly live overseas (including, I am led to believe, some M.P,s.)

dr b is on the right track; I recall such a high level of tax. However, I guess we need to be careful of what is suggested because, as indicated by 2shortplanks, there could be problems from Health and Safety Regulations.:-)

Ron

[vivandorron]

housemouse....It's a though which I would welcome being developed. Top personnel in most organisations are paid over proportionately to those in the lower grades and it is the underlings who keep the the bosses where they are. I know this from personal experience and ,with respect to what ummmm has said, my extended hours were of no avail because, whilst I had the qualifications and ambition, even a minor public school education, I did not have the correct way of shaking hands.!!

Ron.

[Count-A-Strong]

Just sit back and watch all the high fliers go abroad if such a ridiculous idea is ever introduced. I don't think you've thought this one through Ron.

[rjt14]

I agree 100 percent. Maybe we wouldn't have to pay extortionate amounts for houses, cars ect..
The reason they are high prices is because they are aimed at the overly paid ridiculous salary's ie : footballers, fatcat bankers.

Although i can not condemn anyone taking the wage, if it was offered to me i would snap it up in a shot.

[dr b]

I guess I should make it clear that I think a 90% marginal tax rate is very much on the wrong track.

[ummmm]

And Ron...sadly, that can make the difference.