Thelonelykoopa
Member
Genius, we just set minimum income limit to 130k and maximum to 138k and we solve income inequality.
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BBC: Corbyn suggests max limit to what people can earn, "somewhat higher than £138K"
- Thread starter Chittagong
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wumster3000
Member
Not to me. If you have a rare skill that people will pay to see, why not profit from it? I don't understand why you shouldn't be rewarded for your hard work. It's BS. This is a slippery slope so I wouldn't want this near me. Don't do this shit you all.
I understand what he is saying but I am not sure if having a max line would work. I see no reason to not look into it but that amount is really too low.
Some of these rich fuckers are filthy disgustingly rich tho. They could give two fucks about anyone else except padding their bank account. Fuck everyone so I can get that 5th jet and 10th vacation home.
Some of these rich fuckers are filthy disgustingly rich tho. They could give two fucks about anyone else except padding their bank account. Fuck everyone so I can get that 5th jet and 10th vacation home.
£500 loaves of bread incoming!
Milly Osworth
Member
Capitalism will implode thanks to computers anyway.
T
Transhuman
Unconfirmed Member
6000 calories max p/day. Sorry Dwayne "the rock" Johnson.
Pfffttt......there are thousands of key workers who's skills and services are invaluable to society who earn a pittance, while industry fatcats drag in more in a month than they make in a year.
Rewards are rarely related to hard work.
JC isn't a Liberal, he's an old-school Socialist who fell through a time warp into 2016 from a 1970s British Leyland picket line
Goldfishking
Member
The problem is there is no new blood.
That's not that much if you are successful. And not even close to enough to live nicely on nice cities.
Worse, it just punishes people for succeeding. Why would anyone want this the second they achieve any success. Why would you want this if you are working hard moving up the ranks and about to achieve success? Why would you want this if you were in school in order to achieve success?
Moreover, companies still are going to make tons of cash. Is the expectation that they'd just hire more employees and give them all the same salary? Where is this money going to go?
When liberals get too liberal
Miles Quaritch
Member
Yeah, Labour is done. Started with Ed Mulligan and it's been on a irreversible slide since then.
They've lost key demographics which will be extremely hard to win back and they've made zero attempt so far.
Party is name only right now. It's just one huge scandal away from imploding.
It's not as damning as it sounds, but not by much. It's not the launch of some flagship policy but an off-the-cuff remark about a debate on policy that had no thought put into it.
So yes, he has torpedoed his own relaunch, and it does highlight how little thought goes into implementing solutions rather than vague railing against the government, and it is completely unenforceable for so many reasons, and it will probably sink like a stone, but it could be worse... I guess?
There are workable solutions to closing the wage cap, such as:
Corbyn: We want to address the increasing wealth gap
Interviewer: How would you do that?
Corbyn: Dunno.
Interviewer: Would you introduce wage caps for top earners...?
Corbyn: Maybe.
Interviewer: What would be the limit?
Corbyn: Dunno. More than what I make (£138,000).
Interviewer: How would you do that?
Corbyn: Dunno.
Interviewer: Would you introduce wage caps for top earners...?
Corbyn: Maybe.
Interviewer: What would be the limit?
Corbyn: Dunno. More than what I make (£138,000).
So yes, he has torpedoed his own relaunch, and it does highlight how little thought goes into implementing solutions rather than vague railing against the government, and it is completely unenforceable for so many reasons, and it will probably sink like a stone, but it could be worse... I guess?
There are workable solutions to closing the wage cap, such as:
trenchfoot
Member
I support the idea that the highest earner/boss in a company should not be able to make more than 10-20 times what the lowest earner does in the same company.
If they want to raise their own sallary they have to raise the lowest salaries too. They would make that happen!
If they want to raise their own sallary they have to raise the lowest salaries too. They would make that happen!
And watch as the rich leave the country in droves.
If the government just takes everything over a certain amount people have quite literally no reason to work past what will make them that amount. It actually would even out income though, if only because most companies and business owners would leave the country and take their jobs with them. Everyone would be equal in how poor they are.
TheRedSnifit
Member
So you think that if you set the limit at 138k, and an executive is making 999k, the difference would be drawn out in taxes? I imagine the first thing that would happen is that his wage would cut to the cap.
Bye bye income tax revenues.
I'd actually bet on the Lib Dems winning an election before Labour manage it again at this point. Everything that made the party electable in 1997 has been demonised as neoliberal and evil, compromise be damned. Nobody who voted Tory in 2015 is going to switch their vote for todays Labour party
QuicheFontaine
Member
He's not out to win elections.
Goldfishking
Member
Yeah it could be worse. Corbyn has said for a while he wants the parties internal discussions to be more public and to involve the nation in discussions before the party has even come up with a solid plan.
Theoretically it is a great idea but every-time it happens (like this situation) people jump on the discussions and media tries to force quotes like the one on this thread, meaning in the end it's not worth it.
HazySaiyan
Banned
The problem you have is assuming Corbyn even wants to win.
Seriously Corbyn just go, you're handing the keys of the country to the Tories for a generation.
I'd be willing to see relative wage caps but not hard ones. A relative wage cap meaning you can only be paid, say, max 5 times the average wage of your company, including bonuses and value of shares etc.
A hard cap is terrible and makes corbyn look very silly.
The true answer is to fix taxation and the make it more progressive.
A hard cap is terrible and makes corbyn look very silly.
The true answer is to fix taxation and the make it more progressive.
Cross-posting from UK OT because it made me laugh.
Jezbollah
Member
I just came back into this thread when I found out just now that Wenger had been talking about this stuff!!
To be perfectly honest as stupid, off the cuff and unworkable as it is, there is a reasonable school of thought in the post brexit, post trump world the plausibility what you said doesn't matter as much as showing the voters you are connecting with their anger.
Unfortunately Corbyn makes a poor populist, as he's for all his faults is unfailingly polite and that combined with the ill-thoughtout nature of his comments make him sound mealy mouthed. Him not having a good answer when asked about his own wages and just reflectively saying "oh it'd probably have to be higher than that" is a poor look.
Unfortunately Corbyn makes a poor populist, as he's for all his faults is unfailingly polite and that combined with the ill-thoughtout nature of his comments make him sound mealy mouthed. Him not having a good answer when asked about his own wages and just reflectively saying "oh it'd probably have to be higher than that" is a poor look.
Interface_2037
Banned
I've come to the conclusion that's what they want.
How much more fun it is to protest policies of the Tories whilst not having to provide serious alternatives themselves.
..sit there shouting from the opposition benches whilst waiting for the British people to be ready for a full blown socialist revolution that will never come.
Lunatic student union lefties the lot of them.
There needs to be a tax on wealth, not income.
That said there was a study done in the US that showed people don't get any happier from additional income above around 70k. I'm sure the number varies by location but it's not like people making millions per year are getting any marginal utility out of all that money.
I would like to see a top tax bracket of 100% at, say, 750k. And a minimum income of something like 40k.
But like I said the real inequality is already baked into net worth. Like Piketty said, there needs to be a global simultaneous tax on wealth.
So many people in this thread are worried about the rich people fleeing the UK. Maybe they will... but honestly fuck them. I mean they're useful for tax income but then again all they seem to do is look for ways to avoid taxes anyway.
That said there was a study done in the US that showed people don't get any happier from additional income above around 70k. I'm sure the number varies by location but it's not like people making millions per year are getting any marginal utility out of all that money.
I would like to see a top tax bracket of 100% at, say, 750k. And a minimum income of something like 40k.
But like I said the real inequality is already baked into net worth. Like Piketty said, there needs to be a global simultaneous tax on wealth.
So many people in this thread are worried about the rich people fleeing the UK. Maybe they will... but honestly fuck them. I mean they're useful for tax income but then again all they seem to do is look for ways to avoid taxes anyway.
HazySaiyan
Banned
Exactly, the guys's making fucking bank just sitting there spouting out pointless bollocks that doesn't have a hope in hell of being enacted.
The NHS is actually one of the more efficient health services in the world, in terms of the amount of money that's spent on it vs outcomes.
Randomizer
Member
Jesus talk about an over reaction to an off-the-cuff remark. Also it's not a bad idea in theory but perhaps would be better implemented through higher taxation brackets.
Income inequality is one of the biggest issues facing modern society. Wages of the highest earners has ballooned since the 80's whilst the middle and low earners has barely budged, just about matching inflation. He also mentioned increasing minimum wage to £10 per hour which would fantastic and give people a living wage.
I think Corbyn has great ideas but how he delivers them is often terrible. He needs to think before he speaks, especially when everything he says will be scrutinised and jumped upon by the right wing press.
Income inequality is one of the biggest issues facing modern society. Wages of the highest earners has ballooned since the 80's whilst the middle and low earners has barely budged, just about matching inflation. He also mentioned increasing minimum wage to £10 per hour which would fantastic and give people a living wage.
I think Corbyn has great ideas but how he delivers them is often terrible. He needs to think before he speaks, especially when everything he says will be scrutinised and jumped upon by the right wing press.
One Eyed Willy
Member
Ridiculous
TheLostBigBoss
Banned
It's a horrible fucking idea and deserves to be pounced on
The study you are probably citing actually says that people are happier about life in terms of life satisfaction the more they make, but it will not make you have a happy attitude on a day to day basis:
http://content.time.com/time/magazine/article/0,9171,2019628,00.html
Please also be one of the people who gets mad when neoliberalism gets brought up.
Baki
Member
No it's not.
Can't afford private schools or a decent-ish house in London.
Also means you can kiss the idea of early retirement goodbye.
I'm semi-pro Corbyn.
But this idea is fucking nuts.
Vivalaraza
Member
It is a bad idea..but just focusing on the bolded. This is why this man is an awful politician. He doesn't think. He doesn't consult anybody. He doesn't generate any buy-in to his ideas. He just doesn't know how to operate as a leader or even how run his own office. The number of stories about how inefficient and aloof he and his staff are suggests they'd struggle to run a small business.
The right wing press hardly have to try.
boneyjangles
Member
I don't mind him, and agree with him on most things, with a couple of exceptions.
All he's talking about here, I assume, is fairness. and amending the marginal tax rates so that by the time your earnings enter the higher brackets (hundreds of thousands per year) you get taxed a very high percentage. This is normal in most western, relatively wealthy countries.
I hope 'cap' is simply his way of dumbing this down, and I don't blame him, because I'm losing faith in the ability of the average voter to understand what marginal tax rates even are.
All he's talking about here, I assume, is fairness. and amending the marginal tax rates so that by the time your earnings enter the higher brackets (hundreds of thousands per year) you get taxed a very high percentage. This is normal in most western, relatively wealthy countries.
I hope 'cap' is simply his way of dumbing this down, and I don't blame him, because I'm losing faith in the ability of the average voter to understand what marginal tax rates even are.
Maybe in principal, but in reality it's complete unworkable.
Bad Arse Vickers
Banned
No it's not communism (Which is a stateless and moneyless society). If anything it's a populist concept.
TestOfTide
Banned
Because all across the world, you all too often have the far left choose to push purity politics bullshit instead of working with the moderates to put a stop to the far right.
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