Here’s What Democracy, Economically, Looks Like

[marmar]

from Too Much: A Commentary on Excess and Inequality:




Here’s What Democracy, Economically, Looks Like
June 30, 2011

The global media spotlight may be gone, but Egypt’s revolutionaries are still making history, with a spirited campaign for a ‘maximum wage.’

By Sam Pizzigati


The global press corps is no longer hanging out on Cairo’s Tahrir Square. The media have moved on. But Egypt’s revolutionaries, insurgents who range from doctors to tax collectors, are still making news of significance, even if few outside Egypt seem to be paying much attention.

These Egyptians merit our attention. At a time of global austerity — and ever louder demands for “sacrifice” from low- and moderate-income people — the Egyptian revolution is blazing a new path. Egypt’s revolutionaries are demanding sacrifice from the top — via a “maximum wage” — and they’ve shoved this notion of income limits onto their nation’s political center stage.

Indeed, almost every major demonstration in Tahrir Square, ever since earlier this year, has sounded the call for compensation limits.

“How can we talk about social justice,” as former activist parliamentarian Ashraf Badr Eddin asked last month, “without mentioning a maximum wage?” .............(more)

The complete piece is at: http://toomuchonline.org/egyptian-maximum-wage/

[xchrom]

1. awesome. nt

[Mojorabbit]

2. Will never happen here but I am so glad they are considering it. nt

[MedicalAdmin]

3. The point, IMHO, shouldn't be that it will never happen,

but rather why it isn't happening in more places.

What do you think of this idea generally, chances of success aside?

[Mojorabbit]

4. I am uncomfortable with it

and that is because I have over a half century of believing that anyone can make it in this country with some hard work and luck. I know it is not really so but that indoctrination remains and there IS something to having the freedom to earn as much as one would want.
On the other hand I am watching all the wealth flow up to a relatively few individuals and I am seeing some outrageous salaries in the mega multi million range for people who only move money around and do not really produce anything.I don't think anyone is worth that kind of salary. I see this trend as very dangerous for society in general and I think it will lead to a huge global collapse before it is done. I think Greece is just the beginning of a corporate global takeover.
In other words, I am ambivalent.

[MedicalAdmin]

5. Well said. I think it's a good idea as long as that cap...

is adjusted by COLA and reviewed perhaps yearly to adjust for circumstance.

The argument that the rich will leave the richest market in the world if they get taxed another 1 or 2 % is much more corrosive BS IMHO.