Wednesday, January 17, 2007

Too Little

It seems as though the Democrats are taking steps in the right direction again, but it seems as though it's merely a drop in the bucket.

They're looking at putting a cap on the amount of money corporate executives can place in tax-free, deferred compensation plans. They expect that such a plan would raise taxes on the preposterously rich by as much as $806 million over the next ten years.

Like I said, it's a good first step, but the real problem is the amount of money they're making in relation to how much they're paying the lowest paid workers. Why can't we work out a scheme that the highest paid worker in a company can't make more than 20 times the lowest paid worker. So when the executive gets a raise, it would give everyone in the company a raise. I think that places would like this better than a "minimum" wage, becuase this way they'd know how much they could waste on a hot air machine (read: CEO).

On a sidenote, I'm sick of hearing people say that raising the minimum wage is pointless because now prices of everything will go up. That's preposterous. The amount the minimum wage is going up is negligible. And the amount of profit that the sort of companies that set prices are making, even with the small hit from increased wages, is still stratospherical.

I don't know.

My point is this: We need to do something to level the financial playing field of all Americans.

Wouldn't this country be a lot better if the richest in the country were only 10 or 20 times richer than the poorest?

The answer is yes.

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