You can’t fix any of this if you don’t fix the growing wealth inequality. We are losing our middle class, the bedrock of democracy. Higher wages for the bulk of Americans means the Social Security and Medicare funds grow. Since taxes are not collected for all the excess wealth going to the top 10%, we have to reassess. Compared to the 50’s through the 70’s , when we had a solid middle class- and plenty of innovation and growth, the tax rate on the wealthy now is just too low. This is compared to Republican administrations such as Eisenhower and Nixon. If they can’t take it home, maybe (?) these overpaid executives will start distributing the income down the line and everyone lives in a better world. If they don’t, government will have to step in. Rather than raise the minimum wage, which hurts the small businesses, I would like to see a limit on exec pay compared with lowest paid worker. Other advanced economies have done this already. Heavily tax anything in excess. Then companies can start reinvesting in their workers and quit paying ridiculous amounts to the top tier.
You can’t fix any of this if you don’t fix the growing wealth inequality. We are losing our middle class, the bedrock of democracy. Higher wages for the bulk of Americans means the Social Security and Medicare funds grow. Since taxes are not collected for all the excess wealth going to the top 10%, we have to reassess. Compared to the 50’s through the 70’s , when we had a solid middle class- and plenty of innovation and growth, the tax rate on the wealthy now is just too low. This is compared to Republican administrations such as Eisenhower and Nixon. If they can’t take it home, maybe (?) these overpaid executives will start distributing the income down the line and everyone lives in a better world. If they don’t, government will have to step in. Rather than raise the minimum wage, which hurts the small businesses, I would like to see a limit on exec pay compared with lowest paid worker. Other advanced economies have done this already. Heavily tax anything in excess. Then companies can start reinvesting in their workers and quit paying ridiculous amounts to the top tier.
Not a fan that the links in the article have a Pay Wall. Don't think I will subscribe to read one article.