this post was submitted on 26 Feb 2024
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[โ€“] AceFuzzLord@lemm.ee 6 points 8 months ago (2 children)

Setting a maximum wage for them wouldn't do a damn thing. They'll just use the wealth they already have to hoover up more through things like insider trading or flat out stealing company money.

Adding a maximum wage for the rich would be like trying to drain the ocean using a toy bucket.

[โ€“] Pyr_Pressure@lemmy.ca 3 points 8 months ago (1 children)

In an ideal world anyone making more than, let's say for an example, $1 million in a year would pay 100% tax on anything more.

No one needs more than $1,000,000 a year for anything. No one works hard enough to actually deserve that. It's just pure luck and/or screwing over other people to get more than that.

Unfortunately if one country implements that, all the rich people leave and go live somewhere else that doesn't tax that much.

[โ€“] Kushia@lemmy.ml 6 points 8 months ago

On paper they don't make anything a year and pay less tax than you or I. The only way that's going to change is a massive world-wide effort to crack down on tax havens and to start taxing their assets fully.

[โ€“] slowbyrne@beehaw.org 2 points 8 months ago

The author in the article talks about how most of the wealth is either coming from capital gains and/or inheritance. They know wage isn't the thing to cap, the article is likely just trying to maximize clicks. The subject is still worth exploring and the author is very well informed.