Maximum Wage

Raising the minimum wage has again become an issue at local to federal levels. Given the increase in labor costs this will engender means that management will always be opposed to such a measure, as will those who feel management will seek to offset those costs by cutting the workforce (a threat from management, in fact). Labor is the biggest cost for many, if not most, companies, and they find that maximizing profits can best be done by short changing employees.
            That sucks.
            Increased labor costs are necessary if people are to make a decent living from their labor. One way to offset these costs is to impose a maximum wage. Putting a cap on the earnings of executives and other highly compensated employees (including movie stars, rock stars, and athletes) will go a long way toward keeping labor costs within bounds that do not impede reasonable profitability. Why are the costs of the producers always blamed for draining profits, and not the blood-sucking corporate execs? In fact, capping the salaries of the overpaid could actually accrue benefits to consumers in reduced prices.
            Capped at what amount? Say $500,000 per year? Maybe more, we can quibble about that. If you can’t live a comfortable life on $500,000 per year, you probably need to get some sort of therapy.
            Many will say such a ‘draconian’ move would violate their god-given right to be multi-millionaires. There is no such right. Many will say it is ‘un-American’─ maybe so, but in a good way. People should have the opportunity to move up and accumulate wealth, but how much does anyone really need? Are car collections, houses on every continent, 6 bedroom houses for 2 people, 57 pairs of shoes, opulence in every choice be it food or furniture; and a wide range of other extravagances one can imagine and can observe indulged in by the uber-rich, really justified? On what grounds? Are we really expected to believe that their work is so much more valuable than the hired help?
            Few of us do, and most of us know exactly what worth they bring, and sometimes it’s a lot, and often times it’s not. But it’s never worth the price paid by workers.