Consider maximum wage, says Tony Benn (From Bucks Free Press)

Communism failed in the USSR, can't see it working here.

Cressex Offender wrote:
Communism failed in the USSR, can't see it working here.

Quite agree, besides, look what Mr Benn and the Unions did to the British Car Industry.

Very good point.

All that would happen is that the big banks/businesses would create lots of companies. The Fat Cat would take a capped salary for his "job", but would also appear as a director or consultant for the other companies, picking up large sums from them for doing nothing. None of them would pay more than the ceiling amount.
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By the way, how much did Tony Blair make last year from all his politically based work? £20 million was it?
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Something that should stop is "Jobs for the boys" for senior politicians (of any flavour) after they have had their go at messing up the lives of millions.
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Tony Benn's proposal is in no way a manifesto for communism. The role of the State is to nurture a better society and a viable economic model, a proposal such as this is just that. I do not see unprecedented State intervention here Cressex Offender, so why scaremonger?

Wayneo, what happened to the car industry in this country was a simple consequence of globalisation, in particular, of cheaper international production costs. Governments of all colours, unions and companies went through a painful era of adjustment with pride and the blame-game prolonging the outcome.

GeoffW, you are wrong. Tony is mooting a cap on total personal income from all sources. So for example, if you hold a non-executive directorship which pays £30,000, 10,000 GSK shares which pay dividends annually of £3,000 and receive £12,000 in rental income from a second home, then your day job could only pay the cap less £45,000, by law.

The consequences of the above are brilliant:

1)there would literally be no point in owning company shares unless you had a genuine vested interest in the company, exactly as it should be!

2)there would be no point owning a second home, giving someone else a chance of home ownership!

3)there would be no point in creating ridiculous financial instruments and products such as derivatives, swaps, CDOs, as high-flyers employed by a bank could earn a maximum salary by lending prudently at 8% to an up and coming small business!

Tony has missed one area though, and that is current assets. My view is that the only way out of this problem is for a banking system collapse, effectively zeroing all accounts and making billionaires just like the rest of us. I would hope that the housing market would then correct itself, because you know what, that town house in Notting Hill really isn't worthy £5 million ;-)

I do hope that the average man on the street can start to feel good about himself again, as Beckham, Diamond and Branson are no better than he, and that's the truth!

Stalemate wrote:
Tony Benn's proposal is in no way a manifesto for communism. The role of the State is to nurture a better society and a viable economic model, a proposal such as this is just that. I do not see unprecedented State intervention here Cressex Offender, so why scaremonger?

Wayneo, what happened to the car industry in this country was a simple consequence of globalisation, in particular, of cheaper international production costs. Governments of all colours, unions and companies went through a painful era of adjustment with pride and the blame-game prolonging the outcome.

GeoffW, you are wrong. Tony is mooting a cap on total personal income from all sources. So for example, if you hold a non-executive directorship which pays £30,000, 10,000 GSK shares which pay dividends annually of £3,000 and receive £12,000 in rental income from a second home, then your day job could only pay the cap less £45,000, by law.

The consequences of the above are brilliant:

1)there would literally be no point in owning company shares unless you had a genuine vested interest in the company, exactly as it should be!

2)there would be no point owning a second home, giving someone else a chance of home ownership!

3)there would be no point in creating ridiculous financial instruments and products such as derivatives, swaps, CDOs, as high-flyers employed by a bank could earn a maximum salary by lending prudently at 8% to an up and coming small business!

Tony has missed one area though, and that is current assets. My view is that the only way out of this problem is for a banking system collapse, effectively zeroing all accounts and making billionaires just like the rest of us. I would hope that the housing market would then correct itself, because you know what, that town house in Notting Hill really isn't worthy £5 million ;-)

I do hope that the average man on the street can start to feel good about himself again, as Beckham, Diamond and Branson are no better than he, and that's the truth!

And you still think this isn't communism?..........
...... It would never work. The idea is good but as was said above, Communism failed and this is a form of just that.

Tigeran, our Government imposes a substantial stamp duty on larger homes, imposes regulations on utility firms, imposes a minimum wage on private companies and much more besides.

Why is Benn's idea any more of an imposition, and therefore Communism?

Your logic is flawed, just plain flawed....

Stalemate wrote:
Tigeran, our Government imposes a substantial stamp duty on larger homes, imposes regulations on utility firms, imposes a minimum wage on private companies and much more besides.

Why is Benn's idea any more of an imposition, and therefore Communism?

Your logic is flawed, just plain flawed....

And trying to 'cap' pay is not? Capping pay would have implications that makes stamp duty and the like just not worth worrying about. The majority of people who make vast sums of money are usually intelligent, gifted people who have businesses and therfore provide jobs. Capping pay would drive them to other countries where they CAN make lots of money and thus we loose these people and the jobs they create. Socialism in any form has failed time and time again. It would never work.

"Wayneo, what happened to the car industry in this country was a simple consequence of globalisation, in particular, of cheaper international production costs."

Bull+****.

"Wayneo, what happened to the car industry in this country was a simple consequence of globalisation, in particular, of cheaper international production costs. Governments of all colours, unions and companies went through a painful era of adjustment with pride and the blame-game prolonging the outcome."

So you can Categorically say that this had nothing what so ever to do with the unions? Really?!!!!!!!!

"Wayneo, what happened to the car industry in this country was a simple consequence of globalisation, in particular, of cheaper international production costs. Governments of all colours, unions and companies went through a painful era of adjustment with pride and the blame-game prolonging the outcome."

So you can Categorically say that this had nothing what so ever to do with the unions? Really?!!!!!!!!

To each according to his/her ability and aptitude (tempted to include integrity but wasn't shure of the spelling)
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Cuba was actually a fine example of communism (though you could pick your food off the trees) that worked - don't let capitalism tell you otherwise. In some non-international environments it's tenable.
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Jimmy Hill - see what you did? Shame on you.
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Go on Tony - your original premise of ten times is as sound now as it was when first expressed.
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What price for clearing a blocked drain pushing sewerage back into your house?? No, not £12 million, though if you had it??