this post was submitted on 13 Aug 2024
77 points (97.5% liked)
Personal Finance
3739 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
People volunteer for causes they think are worthy. I would never do the work I get paid to do for free or for 10% of gross pay. I'd just find a less stressful job, work way less and make about the same.
I don't see any problem there! Lol
The issue is that right now I'm willing to put in the extra effort for the return early in my career. If the government were to effectively cap income potential, some workers who would otherwise be more productive (or who perform a highly specialized service) will not bother, creating a labor shortage and increasing costs. Not a smart move if you're a country with an inflation problem that's been trending very close to full employment.
It would also make occupations like medicine that have long runways to earning even less attractive.
good thing people who are this productive tends to not be billionaires