The era of big paychecks for Chinese financiers is fast coming to an end as some of the industry’s biggest companies impose strict new limits to comply with President Xi Jinping’s “common prosperity” campaign.
    • Toes♀@ani.socialEnglish
      111·
      4 months ago

      Imagine a world where you cap pay to 5x the lowest paid employee.

      • foggy@lemmy.worldEnglish
        4·
        4 months ago

        Bro I’d literally be impressed if we set a 1000x cap.

        100x would be a reasonable utopian goal from where we are today.

        5x is hard to even fathom. Especially when there exists a ~3x gap in minimum wages across the country.

        I propose the minimum wage goes to $250/hr. Maximum wage goes to $2500/hr. You can make between 500k and 5m a year. The only catch is that 60% of it gets taxed up to 1M And 80% gets taxed beyond that. If you somehow do get more that $5M in a year, every dollar after 5M is taxed at a rate of 99.99%.

        So you can make 100k - 200k after taxes and be poor.

        You can make 200k - 1M after taxes and be the upper middle class.

        Musks 46B would be… 5.6M after all taxes applied.

        That seems reasonable.