Maximum Wage Law - Corbyn

[CityStu]

Lol at the way some people seem to think shareholders are like some sort of regulatory body. Its just numbers on a screen.
Also, this proposal would pretty much only affect people earning over £300k, but the world seems to be full of people on probably a tenth of that who are horrified by the proposal. Media brainwashing at its best.

Of course we are. Say pay was limited to £300k and you had someone currently paid £500k. They're going to let their salary drop and get recompensed in other ways, which will drop the tax taken from that person by around £100k. It's bound to be middle earners who make up that shortfall.

 

[Ban-jani]

Of course we are. Say pay was limited to £300k and you had someone currently paid £500k. They're going to let their salary drop and get recompensed in other ways, which will drop the tax taken from that person by around £100k. It's bound to be middle earners who make up that shortfall.

Correct.

We'd lose tax going into the system.

Our top earners take home a very reduced figure due to taxation anyway.

Having a foreign based company paying a cockney bloke £500,000 a year is good for the country.

 

[Chippy_boy]

Wow - proper deep political analysis well done - can you add a pic of Cameron and a pigs head or Gove and Harry Potter? Come on - we are better than this !

No, it's about the right level I think.

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[Chippy_boy]

Surely not? Relates to pay only so any company that wants to carry out such projects just has to restrain pay - thus releasing funds for those projects - or increase the reward to their lower paid staff ? The country appears no happier and no more equal than the times were that CEO's were paid more than 20x the lowest paid workers furthermore recent reports show that if based on the performance in terms of share price increases or dividend payments to share holders there is little if anything to support the rate of increase in FTSE 100 CEO pay against the latter. Even on occasion when at AGM's shareholders question the reward for a CEO the process is weighted in their favour and they get their way.

I am baffled by why people support the idea that millionaire CEO's deserve millionaire wage increases when their performance and their company performance doesn't reflect that reward is warranted.

Think it through mate.

The vast majority of large companies have CEO's on way more than £350k per year. If someone is on a million a year and has their pay cut by two thirds, how do you think that would work and what would happen? They would understandably leave in a heartbeat and get a job somewhere that still pays a million, wouldn't they. The only reason they would not do that would be if they are shit at their job and can't get a properly paid job elsewhere.

So they leave and another guy comes on board and does a great job, for £350k a year. Result? Well no, because they too figure they can earn £1m elsewhere so they fuck off as well. Rinse and repeat. Eventually a new CEO comes along and he does a really shut job. He can't get a £1m job anywhere because he's crap, so he stays.

We end up with our top companies being run by inferior management, to the huge detriment of all of us. It's just an untenably stupid and unworkable idea.

The only way this could ever work (and even then it wouldn't because people would find ways around it) would be if there was International consensus about this and agreement to act on a coordinated global basis. Clearly no such consensus will ever exist; not least when the world's largest economies such as the US and even China FFS, positively embrace huge rewards for top execs.

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[r.soleofsalford]

Politics of envy. Let's impose a salary cap and therefore reduce tax revenue with it! Great idea! Further proof the man is a monumental shitwit!

Tax revenue from footballers and CEO`s of major companies, dont make me laugh. we need to shut down the loop holes.

 

[argyle]

The guy hasn't progressed from student union politics.

Almost everyone hates the unequal share of wealth especially amongst company owners compared to their workers.

However his plan was ridiculous and unworkable - just like his leadership.

 

[bluethrunthru]

Correct.

We'd lose tax going into the system.

Our top earners take home a very reduced figure due to taxation anyway.

Having a foreign based company paying a cockney bloke £500,000 a year is good for the country.

Oh if only. You have seen the news reports about tax "efficiency" amongst higher earners? Off shoring and inventive tax vehicles? I'd buy that idea if I thought that anybody earning say £250k pa and over actually paid tax on their income on the same basis as i do. Threaten them all with PAYE and watch the fuckers bleat.

 

[SWP's back]

He said it would be a voluntary option for business, with a link to the amount of corporation tax then paid as an incentive to trickle down the pay scales to be more even overall, his only example was footballers earning 20m a year, whose pay is ridiculous.

A somewhat leftfield idea that was actually fawned over by the media when Cameron muted it, a 20:1 pay ratio, not a maximun wage as has been reported.

But then an idea put forward by an oposition leader that's not even a policy is more news worthy than the NHS shambles, fucked up railways and Homeless & Housing crisis that is marginalised everyday.

25 footballers can help their clubs turner over half a billion quid so how can the best of them being paid £20m be ridiculous?

 

[SWP's back]

From what I saw he was saying he thought the highest pay in an organisation need to be linked as a multiplier to the lowest paid

So why did he specially reference footballers then?

 

[stonerblue]

Hypothetically I'm sort of with Jezza on this one.
If we take footy as an example surely we'd all be happier with a system where the top earners are capped at say £2m a season and the ticket prices are halved?