Why minimum yet no maximum wage

here is an interesting question
why is there a minimum wage but no maximum wage?

 

Log in or Sign up to hide all adverts.

because otherwise people like bill gates would be very angry and put pressure on people like g.w.bush and people like bill gates are not people you want as enemies

 

Log in or Sign up to hide all adverts.

and whats the purpose of controlled maximum wage be?

 

Log in or Sign up to hide all adverts.

In sports theres salary caps, why?

 

I'm wondering, which sports have salary caps?

 

"Why minimum yet no maximum wage"

Maybe because a government would then have a maxium they can squeeze out of people in a 90% tax bracket.

 

American football.
The reason why is so that teams can't have an unfair advantage if they have more funding. Like signing all the best players by overpaying them so that other teams can't compete, something like monopoly laws for a good analogy.

 

How are salary caps fair?

I mean sure if theres a minimum wage, a maximum wage can make sense, but if theres a minimum wage, and no maximum wage for anything BUT football, how does that make sense?

 

Max wages for sports are governed by the sporting body, not the government. Aren't they? To make the sport fair. Imagine you had £20 to build a go-kart and your arch nemesis had £4.8mil, a team of physicists and a wind tunnel for testing. It wouldn't be too fair, would it?

It's not as if you need much more than a few million a week in wages anyway =/

Who is the government to say nobodies work is worth more than a certain amount. They can say there's a minimum, because people need to be able to afford to live, but how could they justify a maximum?

 

A minimum wage is desirable to minimise exploitation by employers, that it is ever enough to live on is a blatant lie. At best, the minimum wage may cover your food, travelling expenses and part of your rent and outgoings.

A maximum wage would serve no useful purpose and would stifle competition and incentive.

 

Afford to live? Just how can anyone live on minimum wage? LOL

I'd rather die a slow death then live on minimum wage with no way out of it, I could work 100 years at a job and still never get paid enough to seek an education that way.

Die Scum USA!

 

There aren't enough people complaining about their wages being too high to form a powerful enough constituency to influence our politicians.

psik

 

Duh. Those that control the game set up the rules for their benefit. All answers to any questions regarding the rules of our crappy economic system have on answer. Because it is profitable to those who control it.

 

Why should sports be fair, but not capitalism?
The corporate world is not fair, yet somehow we are supposed to have fair sports?

 

Doesnt a minimum wage also stifle competition and incentive? If you had to fear working for a penny an hour, suddenly you'd work a lot harder, we see people from Mexico working DAMN hard to get into the USA and work for minimum wage because they know it's better than working in Mexico.

 

Minimum wages exist because slavery is illegal.

 

We should get rid of both. The government has no business setting wages either at the top or the bottom. Right now, minimum wage is so low it's the equivalent of no minimum. Which is good.

 

So how do you make sure nobody is enslaved?

 

? Living on minimum wage with no way out of it happens to be a slow and painful death.

 

Outsourcing is legal.