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3/ Note that no one says, "once a salesperson sells $500k, that's more than enough, so we'll stop paying them commission." Or, "this team already won two Superbowls, so let's ban them from future championships." So why would capping incentives for value creation be a good idea?
4/ Finally, some billionaires are wonderful people and some are awful, just like some minimum wage workers are wonderful people and some are awful. The solution is not to punish billionaires, but instead to punish bad behaviors.pic.twitter.com/JyUYElNZNQ
You might be right in theory, but I think you are missing the point. As a matter of optics, statistics and politics, do you understand why the minimum wage earning (and voting) masses thinks this is total crap?
I can definitely see why this is a contentious topic, but otoh just because a lot of people think something doesn't mean they are right.
Value creation vs Value Capture is really the right way to frame this debate which most of the opinion writers completely miss.
Hey Leo - yes, but - the slice of people who are driven to control others tend to be a little overrepresented among those who are able to control others. And it can be argued that money as a form of leverage has caused existing tax structures to be pretty regressive.
I mean, imagine if a low wage earning person could treat themselves as a small business - they could deduct basically everything that keeps them going. And that might be a reasonable thing to do...but the rules just weren't built with people at the bottom having a real voice
I don't begrudge anyone a billion dollars--it's a fantastic measure of individual accomplishment.
I also acknowledge that they've generally grown the "pie".
But I don't think we can quantify the alternative. Would $WMT exist without Sam Walton accumulating $Billions? Yes.
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