- Don McCann
- Regina Saskatchewan
A disproportionate few wealthy people own or control most of of the world's wealth. There may be a reasonable way out.
Suppose within a given world corporation, the only thing limiting the income of owners and management was that their income could never exceed 100 times the lowest paid person within their organization. It is OK for the CEO of Exxon-Mobile (for example) to make 10 million dollars a year, as long as the cleaning staff at corporate headquarters each receive a hundred thousand. In this scenario 100,000 dollars would be the minimum salary throughout the entire corporation. This proposal could extend to shareholders as well. People who can use their wealth to generate more wealth without lifting a finger may deserve some return on their investment, but it should never exceed 100 times the salary of the lowest paid worker.
I have heard estimates that 50 percent of Americans control only 2 percent of its wealth. This kind of pattern is the norm in many countries and is the source of much trouble.
In order for this notion not to become an excuse for companies to ship their jobs over-seas, the lowest paid employee, regardless of location would set the limit on management pay. A corporate worker being paid 5 dollars per day would limit the highest paid manager or shareholder to $500 per day.
A grass-roots movement would be required to get this notion off the ground, and I would expect nothing but resistance from the corporate world. I invite you to share your ideas as to how this more equitable arrangement could be made possible.
The number 100 times is just a proposal, perhaps it should be higher or lower, I welcome reasoned feedback or all kinds.