Need some help wit this one…
Idea is to have something like a wage cap where the highest paid person at a company cannot make more than 100x the lowest paid person.
This would need to be a scale for different sized companies or individual business units.
Biggest problem I foresee with this would be people leaving to go overseas.
I am not sure, and need some help formulating this.
To start something as a draft:
The highest salary of any business, organization or otherwise “arrangement” where financial profit is the desired result - compensation for highest paid position of employment or status shal not exceed 15x that of the lowest. This is to include benefits in parallel e.g bonuses, medical insurance, vacation time, sick leave, and any other benefits or perks resulting of the arrangement.
Wage Controls are just a bad idea in general.
But why? If you have a free market then the wage is set by the amount of value the person brings to the company. If it’s not set that way then the company lags behind and fails. Why should we force the most productive people to be less productive at a company, or the company to split into smaller companies to avoid this law?
Say a company has a sports star who is extremely genetically gifted and has dedicated their whole life to performing the best they can, and people want to see them do their thing so much that they’ll pay large sums to see it. That same company employs someone who’s going to college and got a side gig to pay the bills while they do. They clean up the mats and do some data entry.
Your law would say, you have to fire the intern and hire a cleaning and a data entry service. That or pay a stupid amount for a simple service just because you have a sports star working for you. It doesn’t make sense. It’s a great way to accelerate automation though and getting rid of human jobs.