Maximum Wage

I read an article once advocating a maximum wage. It makes sense. He proposed capping it at a million dollars a year. I would give a little leeway--make it five million a year. Anything above that is taxed at 100%.

Now this is five mil a year from one employer. It would include bonuses, stock options, etc., but not money made from entrepreneurial efforts. If someone goes into business for him/herself and makes over $5 million in a year, it should be taxed at normal rates. Also, the tax would be on compensation from each employer. Thus Michael Jordan could make five million from the Bulls, then another five million from McDonald's, and another five million from Nike. (The fact that I don't like patronizing Nike or McDonald's has nothing to do with Michael's endorsements. I just don't like the way they do business.)

Thus, we would not have the obscene salaries paid by mega-corporations to CEO's who lose money, and even drive companies out of business through their incompetence, then get their golden parachutes and get snapped up by another company paying them super-bonuses to come work the same magic for them.