Maximum Earnings Cap

[mushroom25]

a sure fire vote winner for Labour?

http://www.bbc.co.uk/news/uk-politics-38568116

[youngmafbog]

I'd like to see the disparity addressed but I dont think the cap is the way to do it, for starters it could end up stifling entrepreneurs and end up with them taking their business base outside the UK.

What would be good to see is people being rewarded for a good job, not for failure and that is where the Government could set the example. For business perhaps more power to Shareholders would be the answer.

[Old_Geezer]

A good thing to have, it can be achieved by a level at which 100% income tax comes in, but I doubt sufficient numbers of the population are that moral to want it applied to them, whilst others would be duped by myths of losing 'the best' to other countries.

[naomi24]

A maximum earnings cap removes incentive. No sense in that.

[Old_Geezer]

I do not believe that. After a certain point accumulating more riches is pointless. Success carving out an empire, and maybe doing good for the community, has more attraction. It is achievement not simply riches. If ridiculously rich and someone still just wants to simply grab of the world's wealth for theirself, then I think that individual has a problem/addiction/whatever.

[Gromit]

A bad idea and unenforceable.

But fithy rich £Billionaires like Mike Ashley, ruthlessly exploiting his workforce give capitalism a bad name.

[cassa333]

OG! The sense of achievement you speak is recognised in how much money you get for that achievement. If it were not the case then all those that have 'made it big' would give away their wealth and keep only that which allows them the lifestyle they want. As it is even Bill gates, who has started charitable foundations etc, has more money and continues to make more money that I will ever see in my or my children's life time.

Capping earnings and telling people they are not allowed to earn as much as they can/want is not the way to go. Educating and encouraging them to be more philanthropic and a better employer is much better.

[youngmafbog]

//others would be duped by myths of losing 'the best' to other countries//

Rubbish, just look at the brain drain when labour thought 90 odd% tax was a good idea.

[Peter Pedant]

jesus politics of envy again

mushie - come out of your ivory tower and think about tax base....
the tax base is the number of people the change would affect
here it is the Royal family and a few footballers - depending on the level set which we notice is higher than ( o god ) the amount Jerry himself gets

I would be interested to know how many people get £50m a year
( pay - not assets or transfer fees )

good help us when Jerry is think about wages when he should be thinking about Brexit
( perhaps he is "thinking" - why bother ? I will never get to power )

[Peter Pedant]

O god I agree with Nigh
Glooooooory be !

[andy-hughes]

Mr Corbyn has not set a figure for his maximum earnings - but I am willing to be it will be above the salary he is paid!

[youngmafbog]

I suspect so Andy, but if something is not done then civil unrest becomes more and more likely especially if the masses perceive the few at the top are getting it for failure (which we see regularly).

[Old_Geezer]

Clearly didn't lose anyone important at the thought of 90% and most likely wouldn't lose anyone important at 100% either. Just opens up opportunities for the equally able and less greedy.

[whiskeryron]

// Corbyn: I've not changed mind on immigration// What planet is this guy actually living on ?

[mikey4444]

If Mike Ashley, and others were to pay decent wages to their staff, and treat them like human beings, they could take home as much money as they liked.

Unfortunately, they don't.

[youngmafbog]

Quite Mickey, so any ideas on how we can ensure they do?

There must be something someone can come up with that will enable all sides to 'win'

[Baldric]

@ 10:21

It's a safe bet, it's in the link

///Speaking later on Sky News, Mr Corbyn said a wage cap would be "somewhat higher" than his salary of approximately £138,000, ///

[-Talbot-]

andy/YMB

From the article

Speaking later on Sky News, Mr Corbyn said a wage cap would be "somewhat higher" than his salary of approximately £138,000,

[youngmafbog]

OG
//Under Labour in the Seventies, the top rate of income tax rose to 83 per cent and reached 98 per cent when an investment income surcharge was applied.

But while Healey is often remembered as the villain of the piece, it was Roy Jenkins who raised taxes on income to an all-time record of 136 per cent.//

Many high earners did leave, pop start doctors all sorts. Of course what labour failed to realize is that these high earners can move about(which they did) and that 98% of 0 is the princley sum of, well 0.

[mikey4444]

YMB....(13:18)....Ashely should be prosecuted for breaking employment law, along with all the other Fat Cat employers that are getting away with it at the moment.

A business with a similar name was exposed only a few weeks ago. I also suggest that the various Government Depts. that oversee employment law make many more snap inspections of shyster employers, and not leave it up to the BBC, Guardian, etc to do their jobs for them.

In the mean time I will continue to boycott these outlets.

[naomi24]

//In the mean time I will continue to boycott these outlets. //

That'll teach 'em!