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Cap the amount of money executives can make and raise taxes on them also? Incentives? ?

So The government wants to Cap the amount of money executives and such can make Ok check this - help me out with this one if you can PLEASE They want to expand programs We have a serious problem with Social Security, which counts or is dependent upon taxes and working people to keep it going If you Cap the amount of money someone can make then you are capping the amount of taxes you can collect, thus causing more economic strife BUT NO!!! You can just raise taxes on the upper class to compensate for the cap you have put on their salary to begin with. Ok yeah which although defeats the purpose of striving to achieve would almost, in a way compensate for the lost income to the government say a person made 1 million dollars last year but now their salary is caped at 750k what is the tax rate hike you would need to compensate for the loss of revenue? Secondly those in the top hire maids and other peons and buy lots of stuff etc… with their money so with the not only loss of income from the salary cap but also from the tax hike now their income would have dropped lets say 30% give or take so what is going to go? The pool guy, only one car instead of two, or no redecorating or something (causing more unemployment, lay offs in car industry or airlines or construction ect…. which causes a bigger tax burden on everyone, mostly the rich though since the top 15% of our country pay 80% of taxes might be 85 but I wanted to be fair) So although some people don’t understand or care to admit the effect and input the upper class / rich play in stimulating the economy I wonder what is the sense of capping the salary of an executive? So the owner gets to keep more profits, someone has to get the money right? or will they cap also the amount of money an business owner can make too? And yeah I feel ya you could say well you could raise the amount of money the cashier at Walmart or Burger king get so they are making $25 an hour but if you do that then the manager of the company who is currently making $22 an hour is going to either A want a pay raise also or b wonder what is the point of all the extra responsibility for basically the same pay? In that again sure these folks will then be able to buy things they could not have bought before lets say instead of a used playstation 3 they can buy a new one. Or instead of working two jobs can work one job? Right? But in that again lay the tax issues how do you compensate for the taxes lost that go into Social Security and the other new programs? So if If taxable income is over-- But not over-- The tax is: $0 $11,200 10% of the amount over $0 $11,200 $42,650 $1,120.00 plus 15% of the amount over 11,200 $42,650 $110,100 $5,837.50 plus 25% of the amount over 42,650 $110,100 $178,350 $22,700.00 plus 28% of the amount over 110,100 $178,350 $349,700 $41,810.00 plus 33% of the amount over 178,350 $349,700 no limit $98,355.50 plus 35% of the amount over 349,700 Then how do we make up the taxes needed to pay for said programs – wont we have to raise taxes on the lower class and or raise taxes on the upper class if we cap their salaries in the name of fairness? And also what happens to the motivation of people to do well and achieve or over achieve if they will be villafied and punished for succeding? What is the real incentive to start or own a business if the above is true. Why make 80k a year as a owner with all the headaches if I can make 80k a year as a burger king assistant manager? Or to find a job when I can make 25k a year on unemployment (seeing as how they don’t want a cap on how long you can collect unemployment though yes I realize right now it is like 18months with possible extension for another 6 months or some thing like that)

Public Comments

1. Congrats on this, you really spent alot of time thinking/researching this. Essentially what you are describing is socialism, I dont understand why we would limit the $ a owner or exect can make yet increase the pay check of the lowest members, said exec does not have to spend that extra cash on underlings pay checks, he can simply dump it back into the company...I dont understand how this can pass in legislature considering most of them are lawyers and business owners... The only thing I cant tell you is that there needs to be many changes in the government on the issue of spending and taxes. Ether we cut restrictions on the private sector, scale back government programs and spending or build a new tax system as the current one is so complicated the IRS cant get it right half the time. I would prefer a blend of all three but that would be just to prefect...
2. this is pure and simple communism. Your pay is based upon having the same job title as someone else. and the government sets the pay. it has nothing to do with how you actually perform. so where is the incentive to any better than the next guy. correct me if im wrong but didn't we spend 50 YEARS FIGHTING COMMUNISM? and then we voted for it. and the death of liberty shall be greeted with the sound of applause.