ChatterBank0 min ago
Should there be a Maximum Wage.?
27 Answers
There is legislation which ensures that all employees are paid a minimum amount for their services. Consequently, I hold the view that Government could pass an Act which would put an end to the exorbitant salaries and bonuses which are being paid to some individuals; a number of whom are avoiding taxes by being declared as Residents Outside of the U.K.
However, there could be too many M.P.s who fall into the very high salary bracket, with their additional aside interests, for such a proposition to pass through Parliament.
Ron.
However, there could be too many M.P.s who fall into the very high salary bracket, with their additional aside interests, for such a proposition to pass through Parliament.
Ron.
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So you're thinking there are hoards of altruistic intelligent semi Marxist people out there who only want to see the country doing well and would accept a glass ceiling on wages and wouldn't care whether the same job in another country paid twice or three times as much.
This is Earth were talking about is it?
This is Earth were talking about is it?
A little data on tax rates and tax collected in the UK from
http://www.guardian.c.../25/tax-receipts-1963
1971-72 24.6 41.5
1972-73 26.3 39
1973-74 29.7 39.5
1974-75 37.9 42.1
1975-76 47.9 42.7
1976-77 56.4 43
1977-78 62.9 41.3
1978-79 69.8 40.1
1979-80 85 40.5
1980-81 100.9 42.2
1981-82 119.5 45.4
1982-83 129.7 45.1
1983-84 137.9 44.1
1984-85 147.6 43.9
1985-86 157.8 42.7
1986-87 164.6 41.6
1987-88 178.9 40.6
1988-89 197.1 40.2
The first column is revenue collected in pounds, the second is revenue collected as a % of GDP. Both in absolute and relative terms, tax revenues collected rose as top and base tax rates were reduced throughout the 1980s. High tax rates do kill the incentive to work harder (there is substantial academic research supporting this point as well).
http://www.guardian.c.../25/tax-receipts-1963
1971-72 24.6 41.5
1972-73 26.3 39
1973-74 29.7 39.5
1974-75 37.9 42.1
1975-76 47.9 42.7
1976-77 56.4 43
1977-78 62.9 41.3
1978-79 69.8 40.1
1979-80 85 40.5
1980-81 100.9 42.2
1981-82 119.5 45.4
1982-83 129.7 45.1
1983-84 137.9 44.1
1984-85 147.6 43.9
1985-86 157.8 42.7
1986-87 164.6 41.6
1987-88 178.9 40.6
1988-89 197.1 40.2
The first column is revenue collected in pounds, the second is revenue collected as a % of GDP. Both in absolute and relative terms, tax revenues collected rose as top and base tax rates were reduced throughout the 1980s. High tax rates do kill the incentive to work harder (there is substantial academic research supporting this point as well).
