How Do You Define "Honest Wage"? How Do You Tax It?
I have two questions for those of you who have gotten caught up in the recent financial populism:
1) What do you constitute as a fair and honest wage for corporate executives?
2) Presuming that you want to maintain social programs - if not expand them - how would you tax these "fair" wages relative to the old ones?
To put in context, the top quartile of grads from top colleges 10 years out make around 250K by their early thirties, top grads from MBA programs make around twice that after 5 years or so. As you go further up the food chain, some CEOs make tens of millions, with a few hedge fund managers and Steve Balmer types making billions.
On the flip side, I believe 15% or so if the USA lives in poverty and I believe 1/3 of the world is starving (something like that).
As for the second question, the top 1% pays something close to 40% of all taxes. In effect, for every $1 you take away from them, you take away 40 cents from social programs.