Cap executive pay at 12x the lowest paid employee in the company. You can’t make more in one month than the drones make in a year. If you want a raise make sure everyone else gets one too.
In support of the move in spirit, but: Any ideas to prevent a company from circumventing this via dummying up contractor firms? Eg, “We employ this software company started by our founder to write our code. Coincidentally, their pay is .1% of the pay at Microsoft”
Like any proposal you would have to word it in a way that minimizes loopholes initially, as well as muster the political will to close any new loopholes that come up.
Off the top of my head, you would probably want to use averages in some way. Perhaps use the median income of the bottom 20% of domestic wage earners in a given company, with some sort of multiplier or additional penalty for offshore employees. You would also want to ensure all forms of executive compensation like bonuses and stock options are included in the equation.
There’s probably more you would need to include but those 3 things would minimize the most obvious loopholes I can see.
I can’t wait to see the exemption for “part time workers” and suddenly everyone making less than a triple digit salary has exactly 32 hours a week, or whatever is legally permissible to pass as “part time work” in your country.
You’ve provided a fantastic common-sense solution designed off the simple premise that no one needs 12x of a living wage, and I can’t agree enough, but I know the capitalists would fuck it up at every stage possible, while simultaneously arguing that they’re justified in doing so because the method of economy that they worships has given them moral purchase to look down on the poors.
Make it 12x the lowest paid by hourly rate. Then maybe it’s 32 hours, or less, but you’ll be paid no more than 12x less than the highest paid employee on an hourly basis.
Also, the hourly wage should include all compensation, including benefits and stock options, so they don’t try to stuff their benefit and stock packages (eg private plane and company car).
Also, tax all wealth above 20x the median wealth of the nearest 100,000 people at 90%.
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Cap executive pay at 12x the lowest paid employee in the company. You can’t make more in one month than the drones make in a year. If you want a raise make sure everyone else gets one too.
In support of the move in spirit, but: Any ideas to prevent a company from circumventing this via dummying up contractor firms? Eg, “We employ this software company started by our founder to write our code. Coincidentally, their pay is .1% of the pay at Microsoft”
Like any proposal you would have to word it in a way that minimizes loopholes initially, as well as muster the political will to close any new loopholes that come up.
Off the top of my head, you would probably want to use averages in some way. Perhaps use the median income of the bottom 20% of domestic wage earners in a given company, with some sort of multiplier or additional penalty for offshore employees. You would also want to ensure all forms of executive compensation like bonuses and stock options are included in the equation.
There’s probably more you would need to include but those 3 things would minimize the most obvious loopholes I can see.
I can’t wait to see the exemption for “part time workers” and suddenly everyone making less than a triple digit salary has exactly 32 hours a week, or whatever is legally permissible to pass as “part time work” in your country.
You’ve provided a fantastic common-sense solution designed off the simple premise that no one needs 12x of a living wage, and I can’t agree enough, but I know the capitalists would fuck it up at every stage possible, while simultaneously arguing that they’re justified in doing so because the method of economy that they worships has given them moral purchase to look down on the poors.
Make it 12x the lowest paid by hourly rate. Then maybe it’s 32 hours, or less, but you’ll be paid no more than 12x less than the highest paid employee on an hourly basis.
Also, the hourly wage should include all compensation, including benefits and stock options, so they don’t try to stuff their benefit and stock packages (eg private plane and company car).
Also, tax all wealth above 20x the median wealth of the nearest 100,000 people at 90%.