This falls under the "where do you draw the line" situation. Why 100? What if down the road it is revised by the lawmakers to 99 times. Then 98. And so on. When the government is the employer they can set maximum salary just like any other company can set their own maximums, but when they aren't the employer what right do they have to set the salary cap?
What happens if you have all high-paid employees due to excellent work and longevity. Then you need to hire someone and while they are excellent on paper, they are fresh out of college and completely unproven. The normal starting pay for this person would be below the 100 times mark, so you either don't hire them, or have to give people pay cuts just so you can hire this person at a reasonable rate.
I think it is an honorable goal, but not one that should be dictated by law.
And what if you are the owner of a company and it is just you, let's say you developed a brilliant piece of software that you sell, and you are making 5 million a year, but you need to hire someone at $10/hour just to stuff envelopes?
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timeasmymeasure
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Date: 2009-04-09 01:36 pm (UTC)What happens if you have all high-paid employees due to excellent work and longevity. Then you need to hire someone and while they are excellent on paper, they are fresh out of college and completely unproven. The normal starting pay for this person would be below the 100 times mark, so you either don't hire them, or have to give people pay cuts just so you can hire this person at a reasonable rate.
I think it is an honorable goal, but not one that should be dictated by law.
And what if you are the owner of a company and it is just you, let's say you developed a brilliant piece of software that you sell, and you are making 5 million a year, but you need to hire someone at $10/hour just to stuff envelopes?