I think that there ought to be a maximum wage that is linked to the minimum wage (we can switch over the baseline to the basic income if we ever get basic income implemented).<p>The idea is anyone earning over the maximum income[calculation] will pay almost all of the amount over the maximum wage as income tax.<p>Calculation: I propose that the maximum income be a hundred times the current federal minimum wage times two thousand. The assumption is that a full-time employee works two thousand hours a year. Under my proposal, we will raise the federal minimum wage to $15 per hour which will set the so-called maximum income at $3M a year.<p>Of course, we do not want to penalize people from making more money. Nobody shall go to prison for making more money. I just think that any income over the maximum income should be taxed at a higher rate which I propose should be 90% of the income over maximum income.<p>If&#x2F;when we get a basic income system working, we can switch the so-called maximum income to a hundred times the basic income. I hope the mega rich will support this plan as unlike the estate tax, this is not a tax aimed at the eroding their assets. As long as they do not take distributions from their corporations&#x2F; trust funds&#x2F; &quot;charitable&quot; funds, their assets should remain safe.<p>I know the federalists will turn in their graves as I say this but we cannot afford to have state and local governments do as they wish. When Texas steals business from California or Kansas steals business from Missouri, the consequences are just the same as when China steals business from the US. We need to federally enforce standards that prevent some states and communities from being &quot;business friendly&quot; at the expense of the people.<p>Edit: will the downvoter please care to say a few words?