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Which is what will happen if Corbyn becomes PM.
The rich will leave the country because they can afford to. They won't just start paying 50%+ tax.
The labour Leader thread...
- Thread starter easyrider
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Which is what will happen if Corbyn becomes PM.
The rich will leave the country because they can afford to. They won't just start paying 50%+ tax.
Deleted member 66701
Deleted member 66701
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A maximum wage? Oh dear
He was suggesting an index linked wage - i.e. no one in an organisation can earn more than (number pulled out of thin air) 20x the lowest paid. It's a popular idea to solve income inequality. I like it!
Just did my online vote - 1st choice was Corbyn, 2nd choice Burnham (because he is at least promoting party unity - unlike the remaining candidates).
99.9% wont because 50% of something is better than 100% of nothing and the few who do will be replaced by entrepreneurs willing to fill the market gap created by those leaving and are happy to pay the 50%.
You comment is a common, ill conceieved scare tactic by the right that has no merit. When they introduced the 75% tax rate in France, hardly any those due to pay it left the country (becuase 99% of those due to pay it were employed, and they were hardly going to leave thier jobs) - the meagre returns were due to other factors (such as tax loopholes only exploitable by the rich), not millionaires leaving the country. A high tax rate may not be economically sound in our current economoy, but not for the reasons you state.
If they want to leave - good riddance I say! But they wont leave, as they know where the money is.
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A maximum wage? Oh dear
wait what? this isn't one of his policies is it?
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His pay policy is essentially Marxism.
What incentive is there for anyone to work hard if everyone will effectively earn the same amount of money anyway?
What incentive is there for anyone to work hard if everyone will effectively earn the same amount of money anyway?
Why do people work hard now at jobs that pay the minimum wage with little prospects for earning more? E.g. carers, Tesco etc.
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I think you'll find that after a certain period of time your wages at Tesco would increase so there is an incentive.
It is a ridiculous idea.
Lowest level McDonald's worker gets paid ~£12K, CEO has his salary capped to £240K.
You honestly think that's the right approach to take?
Deleted member 66701
Deleted member 66701
He hasn't said that. He said the differential between the lowest and the highest should be smaller.
If you're going to bash, at least get your facts straight.
Absolutely.
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What he actually wants is for everyone to earn the same wage. It wouldn't surprise me if after being elected he changes the rules.
Soldato
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What's wrong with that? Honestly?
Seems pretty fair to me. People should be ashamed of being greedy. Money and wealth shouldn't revered and glorified the way it is in this country and the US.
This country is only 'working' if you measure success by the wealth of the wealthy. At the other end of the scale, poverty and homelessness are on the rise. Youth Unemployment is as high as it has been in decades, and a large number of those in work are on part-time or zero-hours contracts. Housing prices are on the up, pricing more people out of our over inflated housing market. And despite the population's increasing reliance on the private rental sector (cheers, Right to Buy!) we still don't have proper rent controls to ensure a decent standard of accommodation is provided. Want to retrain so you can get access to better jobs and pull yourself out of this hole? Sorry, adult education funding has been cut. You can go to University though (this year, next year you won't be able to afford it any more) or pay a private provider with that money you don't have.
This country is working really well if you were already well off. For those that weren't, it's getting worse.
This country is working really well if you were already well off. For those that weren't, it's getting worse.
Deleted member 66701
Deleted member 66701
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Let me pose a hypothetical situation to you.
There is a class of History students. They all take a test and the students who worked hard get As. Those who did nothing and sat around all day got Us.
The teacher suggests that the next test will be different: the average grade of the class will be the grade that everyone gets.
So the students take a test. The students who work hard get As again and those who did nothing get Us. There are some students who did a little work so they get a C perhaps. The average grade is found to be a D, so everyone gets a D.
The hard-working students are annoyed and realise that there is no incentive for them to do any work at all as they will be dragged down by the people who no work at all. The same is true for the somewhat working students. The students who did nothing are happy as they did nothing yet got a higher a grade as they were helped by those who did work hard.
A final test is taken and all the students get Us, so the average grade is a U. The students now all have the same grade and everyone is equal.
This is why Socialism can never work and why Jeremy Corbyn's wage policies will never work.
There is a class of History students. They all take a test and the students who worked hard get As. Those who did nothing and sat around all day got Us.
The teacher suggests that the next test will be different: the average grade of the class will be the grade that everyone gets.
So the students take a test. The students who work hard get As again and those who did nothing get Us. There are some students who did a little work so they get a C perhaps. The average grade is found to be a D, so everyone gets a D.
The hard-working students are annoyed and realise that there is no incentive for them to do any work at all as they will be dragged down by the people who no work at all. The same is true for the somewhat working students. The students who did nothing are happy as they did nothing yet got a higher a grade as they were helped by those who did work hard.
A final test is taken and all the students get Us, so the average grade is a U. The students now all have the same grade and everyone is equal.
This is why Socialism can never work and why Jeremy Corbyn's wage policies will never work.
Soldato
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That's not the same at all, and you know it. Everything you've posted in this thread is nonsense and rhetoric that doesn't even make sense.
£8 an hour instead of £6.50 an hour. Whoopy doo!
Agreed, it's a silly idea. You cannot compare someone that serves burgers to someone with the responsibility of steering one of the worlds biggest companies!
They are vastly different roles, which require vastly different skills and experience.
It's an empty threat. Nothing happened last time tax hit 50%. The reality is, people like living in the UK.
You're right. Reducing the pay scale to, say, 30 times (IMHO a fair figure) the NLW would make promotion pointless. After all, what can you do with £561,600 that you can't do with £18,720...
Bare in mind that by the next election that McD's worker should be earning £18,720 or thereabouts. So that's a top salary of £374,400 at 20x.
Personally I feel 20x is a bit low, baring in mind this is about providing a pay scale, rather than curbing the wages of the highest paid.
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What's wrong with that? Honestly?
Seems pretty fair to me. People should be ashamed of being greedy. Money and wealth shouldn't revered and glorified the way it is in this country and the US.
Why does someone who earns 240k get labelled as greedy? He's arguably being paid less than market rate for his role.
Sounds brilliant to me to be fair.
Hence why one gets paid £240k a year, and another gets £12/hour.
So we'd end up with all the lower quality CEOs to develop our UK businesses ... ?