What’s going on?
Rep. Keith Ellison (D-Minn.), Democratic National Committee vice chair, says the U.S. should instate a “maximum wage” so you don’t have CEOs who make a lot more money per hour than their employees. “Why shouldn’t there be a maximum wage?” he asked in a recent interview.
Uh-oh. What does he mean by a “maximum wage”?
Maximum wage means taking all earnings over a certain amount, or taxing at a rate of 100 percent.
No, he's not joking.
“I did not make a joke about maximum wage; I made a statement about maximum wage,” Ellison said in response to a reporter’s question about an earlier comment he had made.
“What I’m saying is … If you were to say, ‘Look, if you make more than 20 times more than the people who actually make the products and do the services of your company,’ then we’re going to tax you more,” Ellison said.
As an example, he talked about the CEO of McDonald’s, comparing how much a company CEO earns to how much workers make.
Ellison is missing two key truths:
1) The government doesn’t have the right to create a “maximum wage”
2) If McDonald’s is forced to pay workers $15/hour, the company will just bring in robots to flip burgers all the faster.
“The government has no place constitutionally to give a maximum wage,” Glenn said on today’s show.
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