to all employees (including contractors)
Might aswell just make it a multiple of the minimum wage, because somewhere in the chain there will always be someone scrubbing toilets earning next to nothing. Or you end up incentivizing complex structures that try to avoid this cap somehow.
That said i don’t think this is the right solution anyways, since it only targets income and not wealth. As long as profit gets made it has to end up somewhere. And i feel like it is much more likely to end up in the owners pockets, than resulting in higher wages. It’s similar to how the salaries of successful actors/athletes are obscene, but the alternative would be that the studio/club just makes more profit.
So the more important issue would be to improve mechanisms that redistribute money, from whereever large amounts of wealth accumulate. Like a wealth tax or higher inheritance taxes (or just closing all loopholes that help avoid/reduce it).
However i would definitely also support a higher maximum taxation rate for the super high earners.
Or you end up incentivizing complex structures that try to avoid this cap somehow.
They already do that with hiring employees as contractors, which is why I mentioned it. Any employee they hire gets counted.
That said i don’t think this is the right solution anyways, since it only targets income and not wealth.
Hence why I said payment in any form. That includes benefits, PTO, stocks, everything. The rich still have other shenanigans they pull, sure. But this would at least solve the problem on a salary level.
And i feel like it is much more likely to end up in the owners pockets, than resulting in higher wages.
Agreed, which is why the stock market needs to end. It’s the primary means by which they rob the working class.
So the more important issue would be to improve mechanisms that redistribute money, from whereever large amounts of wealth accumulate. Like a wealth tax or higher inheritance taxes (or just closing all loopholes that help avoid/reduce it).
I’d recommend looking into a land value tax system.