Don't Punish High Earners........The Times of India, Feb 13th, pg 22.
Raising taxes on these major contributors to the economy would be democratic theft says the writer. What about these high earners robbing the wages of the poor employees to raise their individual pockets. Matter of fact I would suggest these HNI to be taxed at 60% beyond a reasonable income, unless they model their industries as below:
I think it is a better idea if an individual who heads an Institution / establishment earns cumulative in excess of Rs 100,000/- per day, then the Institution / Establishment must have a Fair wage Scheme in place.
Firstly it must be understood that the Company is a single entity.The Management and Workers are not in a Us....Vs...Them situation. All are working towards a common goal, of producing a superior product. All are expected to contribute their best towards this effort.
If say x=Rs 10,000, then the CMD gets max Rs 1 Lakh. Once this definition is accepted / legislated, then in a given industry if the CMD thinks he deserves more, he has to ensure the value of x at the ground level in his organization changes. This one act will create a healthy environment within the organization, and within society.
Raising taxes on these major contributors to the economy would be democratic theft says the writer. What about these high earners robbing the wages of the poor employees to raise their individual pockets. Matter of fact I would suggest these HNI to be taxed at 60% beyond a reasonable income, unless they model their industries as below:
I think it is a better idea if an individual who heads an Institution / establishment earns cumulative in excess of Rs 100,000/- per day, then the Institution / Establishment must have a Fair wage Scheme in place.
Firstly it must be understood that the Company is a single entity.The Management and Workers are not in a Us....Vs...Them situation. All are working towards a common goal, of producing a superior product. All are expected to contribute their best towards this effort.
If all are contributing, then the rewards must also be shared by all in a defined proportion.
It is not anybody's right to exploit another- be it shareholder or worker. Once the output of all are defined, and their share in the Pie, then there can never be a bad situation. The solution therefore is about the receivables in any industry or situation. Currently the max perks are received at the top and the crumbs picked off the floor at the bottom of the pyramid. This is a misconceived notion that it is the top alone that deserves the credit for success. Success can be achieved when every player in the game plays his part and contributes to the targeted goal. We need to create a winning situation and a prosperous society where everyone who contributes gets rewarded. Let us assume these are the different levels in an industry.
Chairman & Managing Director,(10x)
CEO,(9x)
Manager,(7.2x)
Divisional In Charge,(6x)
Foreman,(4x)
Supervisor, (2.5x)
workers (1x)
CEO,(9x)
Manager,(7.2x)
Divisional In Charge,(6x)
Foreman,(4x)
Supervisor, (2.5x)
workers (1x)
If say x=Rs 10,000, then the CMD gets max Rs 1 Lakh. Once this definition is accepted / legislated, then in a given industry if the CMD thinks he deserves more, he has to ensure the value of x at the ground level in his organization changes. This one act will create a healthy environment within the organization, and within society.
This is the best way ahead both for the Promoter, The Organisation and The Worker. This is applicable to every Industry. The answer lies in equitable distribution of the wealth created without discrimination.
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