Daniel Halliday
Nov 21 · Last update 23 days ago.

Would a wage cap be beneficial to address inequality?

Income inequality is a controversial issue with many politicians vowing to tackle the rising level of inequality by addressing with income, and while minimum wage is more common, maximum wage policies are also gaining support. One such strategy seems to be the idea of a wage cap, or maximum wage, with politicians such as Jeremy Corbyn of UK’s Labour Party controversially putting his support behind such a scheme. However the idea also has a long history with popular US president Franklin D. Roosevelt, who helped the United States recover form the Great Depression, being a proponent of maximum income. So could an income cap help ease societal disparity and income inequality?
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Yes, in the name of equality
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Yes, in the name of equality

There is currently a massive pay disparity in most societies, with a majority of people struggling on minimum wage jobs while the mega rich are generally getting richer, the gap between rich and poor is ever widening. Maximum pay could be a policy that helps bridge that gap, as studies show that the larger the inequality the more social and health problems a society has, capping wages while raising the minimum wage could be a method to reduce income disparity and the negative consequences it has. Such a cap would only be attributed to the mega rich, only effecting the jobs that are astronomically overpaid, and according to polls conducted by the Sunday Mirror newspaper in 2016, Jeremy Corbyn’s pay cap policy enjoys support across the political spectrum.

vimeo.com/ondemand/gazafights theunboundedspirit.com/income-inequality-health drugsandalcohol.ie/15970/2/iJRF_nequality-income-social-problems-summary.pdf

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Daniel Halliday
Nov 21
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