What if no one could earn more than $100,000 a year?

babinro

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What if the world as a whole were to place a maximum yearly earnings cap along the lines of $100,000 per person? All professions would still have to put in their current expected yearly hours in order to earn their $100,000. Suppose all extra funds that profession would have normally earned would instead be given to the government in taxes for spending and services.

How do you suspect this would impact the world we live in?

Would a change like this effectively solve any or the worlds problems? Or simply make matters worse?

Would we be desperately under staffed in fields like medicine since more money can be made with far less time and education?


Would there be an increase in war or crime as a result of people trying to get more than the law entitles them to?
 

nukethetuna

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Pffft, no one would set a salary higher than $100,000 to avoid losing money to the government. In addition, greedy people would find a way around it with bonuses, under the table deals, and other loopholes. For example, politicians have their set salaries, but they make far more (or get items of value) from bribes/lobbyists/"endorsements"/"donations"/etc. Not to mention the stock market and all that jazz.

I'm not sure if it would result in a decrease in doctors. I have to wonder what the cost of education would be if everyone only made that much, because donations to schools would be a lot rarer. I mean, in an optimistic world, the price of everything would go down, but honestly it would also mean that luxury items and really expensive technology would not be developed because no one would have the money to buy it.

Anyways, interesting idea, but it would never follow through in practice. Everyone wants.
 

EHKOS

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Then I would never be able to drive my favorite car. A Lamborghini Gallardo Spyder.
 

Ruwrak

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If 100'000 would be the max,

Most people still would only make 20'000 - 40'000
(euro's that is)
 

JochemDude

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Nov 23, 2010
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I live in The Netherlands, anyone on a paycheck can't earn more than 200.000 a year. Though it creates a corrupt bonus system, it's still better then most other stuff.
 

dickywebster

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If all the money made over 100,000 went into doing what sweden does and paying for literally everything, then itd probably fix the world.
But it wont happen for at least another generation or 2, theres too many rich greedy sots around who wouldnt agree to this even if you forced them into it.
 

Total LOLige

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I can't think of a profession that gets 100,000 a year, except maybe football players(soccer) that get that on a weekly basis.
 

Signa

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I see only good coming from a measure such as this. Anyone complaining that over $100,000 isn't enough is just a spoiled brat. There probably should be some exceptions for those with multiple kids, but I'm living with under $20k, and I'm doing alright. Culturally, we have become so greedy and self centered, that almost EVERYONE feels the need to live in a mansion with a 90' TV and a car worth more than I'll make in 10 years. We need to move away from that, because it's so shallow and it's driving a rift between the rich and poor.
 

Duffeknol

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No one would be willing to spend a lot of time on education any more. Higher professions would die. No more doctors, engineers, etc.
 

funksobeefy

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well then all prices will be changed to reflect the current economic situation. The rich would still be rich, and then the poor will still be poor.

Everything would drop in price, including your paycheck. What you think that your boos will accept your 40k paycheck when he now only makes 100k? no way
 

Duffeknol

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JochemDude said:
I live in The Netherlands, anyone on a paycheck can't earn more than 200.000 a year. Though it creates a corrupt bonus system, it's still better then most other stuff.
That's only for the public sector, dude. Private sector is free. What do you think we pay our football-players, for starters?
 

Jodah

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Problem is you have to look at the requirements for many professionals. To be a Lawyer you have to go to College for 4 years at least followed by 3 more years of Law School. Thats 7 years before you can even practice law that is a lot of money spent and most new lawyers don't actually make much money comparatively speaking. Before anyone says we don't need lawyers, you had best pray you never need one. Everyone hates lawyers until they need one.

Doctors, veterinarians, dentists, etc are all in the same boat. That doesn't mean they are more important than other professions but it does take considerably more work than most professions to start up.
 

Cleireach

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Jul 22, 2010
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It would destroy most all of our farmers and small businesses. The death tax on any worth > 1 Million dollars in the US, doesn't hurt the 'rich' but rather the farmers who have all that expensive equipment.

Money in does not equal money kept. If I take in 1.2 Million dollars off a crop, but have to spend 1.15 Million on seed, fertilizer, a new blade for a combine... You get the picture.

Small businesses who have to have a bunch of product on site run into the same sort of problems.
 

Eduard Blackbeard

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Nov 21, 2010
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We would have very few doctors. The ones we did have would work 2-3 days a week. So mortality rates would sky rocket. All industries would be crippled. As in we wouldn't have video games anymore. Basically the world would crash. Except now the 99% would have just as much money!
Woot! Go humanity!
That is unless like other people said inflation just dropped and every cent we had was worth $10,000 and then the poor would all die.
So either way the poor are royally screwed.
So stop trying to change it.
 

Eduard Blackbeard

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When I referred to doctors I just generalized any profession that works hard and earns over $100,000. The medical industry being one of the most important.
 

WolfThomas

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Say goodbye to professional like Doctors, they make the big money because of the hours they work, the standards they're expected to be at and the risks involved. I knew an OB-GYN who told me he had to pay 90K a year in medical defense, that's more than most people earn a year. The problem is not with people making too much money, it's with people not being taxed appropriately.
Jodah said:
Problem is you have to look at the requirements for many professionals. To be a Lawyer you have to go to College for 4 years at least followed by 3 more years of Law School. Thats 7 years before you can even practice law that is a lot of money spent and most new lawyers don't actually make much money comparatively speaking. Before anyone says we don't need lawyers, you had best pray you never need one. Everyone hates lawyers until they need one.

Doctors, veterinarians, dentists, etc are all in the same boat. That doesn't mean they are more important than other professions but it does take considerably more work than most professions to start up.
This pretty much.
 

JochemDude

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Duffeknol said:
JochemDude said:
I live in The Netherlands, anyone on a paycheck can't earn more than 200.000 a year. Though it creates a corrupt bonus system, it's still better then most other stuff.
That's only for the public sector, dude. Private sector is free. What do you think we pay our football-players, for starters?
Yeah, that's what I meant.
 

The Seldom Seen Kid

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There wouldn't be much change honestly. The people with the more "important" jobs (CEOs, Directors,etc.) will still be considered more valuable and as such compensated more. What would happen, rather, is that the global price of of things would go down. Let's say a CEO would go from $1 million/year to $100 000, the doctors would go from $100 000 to $25 000 (random numbers). Therefore, money will be more valuable and things will cost less.
 

Merkavar

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babinro" post="18.318798.12999643 said:
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i would say this would solve nothing and probably only make issues. most people who get paid over 100k are paid this much for a reason like expirence, education or demand.

so people would not work so hard, sacrifice so much to become doctors, engineers or other high education job cause they arent going to be rewarded as much.

i would think capping income would only dumb down society.