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Do you think income should be capped?

by meggf (follow)
Money (148)      Lifestyle (334)     
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Some people earn more money than some countries earn. Do you think those people should have to give more money to charities, pay higher taxes, or that they should be able to stick all their money somewhere and do what they want with it whilst other people starve.

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Top Answers
It's a difficult question to answer.
I think these people should make more of an effort to donate to charities, but I don't think putting a cap of their earnings would be the right way to go about it.

Of course not -that is communism, isnt it?

Why should those who are more clever, work harder and are more successful than I am, have to give their money away.

Good luck to them if they have the tenacity, brains and ability to make a lot of money -why would we take it from them -jealousy?

I do not think anyone should be forced to donate to anything -many of those with a lot of money do donate to charities but do not make a fuss about it, so you do not really know.
by Finy
But there are lots of clever people in the world who aren't wealthy because they have never had the opportunities or the privilege. There are probably millions of people alive today who have brilliant ideas but will never live on more than $1 a day anyway.
by meggf
Also I just want to add that in theory communism works well. In theory capitalism also works well. When we apply the ideals to a large scale population we see the flaws therein. I don't have a solution to that, but I do think it's time we started looking for one.

There are some socialist countries that seem to be doing quite well, but I need to read more about it I think.
by meggf
Capitalism doesn't work well, but I don't think capping people's earnings is the solution.
by Vee
Well your kind of thinking a tad about Socialism and a pinch of Communism.
I fully hear you.
I have to say, it would be nice to think people no longer need to starve,but
they will always.
For anyone to earn money, and do with it what they like is a ''free country''.

The World sadly has always had people who go without food and water.
It has happened for thousands of years, and yes it will continue to do so.

While we have people in power who get rich and fat and lazy, nothing will fix the Statuesque.
There are too many of them, and one can not just say pay-more, they would have to 'want too'.
That is where the problem sits.Too many greedy people, and until they do a
heart-change, nothing will be done.
We can't make people give more than what they are in tax and charity.

Charity is just that, and pulls at the heart strings of some, but not all.
To remain free people, we have to leave it as it it is a 'Democracy, and remind others to give freely....as we do.

As for capping, yes that is a brilliant idea! that should happen, even with some sports stars.

totally, totally disagree here! why should a talented star have his or her salary capped!
They have a talent so good luck to them to earn whatever they can.....
by Finy
If we just for a moment sit back and think what it would be like to have so much money, that ''anything'' our heart would like that day, we could have(within reason).Some people make obscene amounts of money, yet we see a child starving of hunger in Africa...Not just one child....Capping after 50 Million for one single person.(After that any money made could be for Africa)...Could you imagine how wonderful that would be, may inspire them to work more...for Africa and other starving Countries.They would ''maybe'' start a New Movement.
Lets face it, 50 Million is a nice amount for one years work.By 1 person.
I'm not talking about businesses that would be crazy, too many people involved.
The World as we know it is badly out of balance, and compassion has gone! who knows where....That one clause would make it more liveable :)
by jonaja
I don't know if capping income is the solution, but I do know that no one needs to earn thousands of dollars in a minute. No one is worth that much money. Furthermore many of the people who earn that much money are doing jobs that aren't beneficial to the planet, jobs that just destroy society and the planet. Meanwhile some people who do backbreaking work don't earn enough money to feed their families. We need to redistribute wealth. How do we do that? Capping incomes is just one possibility.
You put it very very well :)
by jonaja
People who generate a real and measurable benefit to others and the community in general should be rewarded.
That said people who abuse a position of power just because they can need to be controlled. It is common for company directors who can see the writing on the wall in relation to the failure of a company generated by their own incompetence often write themselves massive bonus checks along with other members of the board as last minute money grab. Investors are powerless to stop this theft by incompetent mangers. Companies fail leaving a trail of pain for investors and no investigation by the government is ever enacted.
White collar crime is huge in this country and the Australian government remains completely impotent. All corporate wages and bonuses should be vetted by government and based on a performance related to the delivery of profit to investors only after the delivery.
Fraud should be identified and punished.
I know of one company who beat down the wages of the work force by 10 percent claiming poverty while writing themselves massive pay bonuses. The company share value dropped from $5 dollars to 23 cents. The same year the Director was paid bonus and wages that put him in the position of 3rd highest wage in the state.
Investors lost money, workers lost money, Directors and executives and board members walked away with a fortune.
Government did 00000000000000000

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