Sunday, June 7, 2009

maximum wage

Working Group on Extreme Inequality » Cap and Save
Meanwhile, in Britain, nine members of Parliament have just introduced legislation to place “a cap on the maximum wage that can be paid to any person in any one year.”

Millions of low-income workers, the measure’s lead sponsor, MP Paddy Tipping, told the House of Commons Wednesday, have benefited from the British minimum wage.
“We need to complete the policy circle,” Tipping urged, “and seriously consider the introduction of a maximum wage.”

A maximum wage set at ten times the minimum, the former social worker observed, “would give a maximum wage of £120,000,” the equivalent of close to $200,000.