How would this social experiment work? Or has it been tried before?
What about your pay as your age per hour? 12 year old $12 an hour and 65 years old $65 per hour. Just throwing out a social engineering hypothesis. Also for bonus your tax rate is a percent of your age 12 is 12% 65 is 65%.
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Where will this cash come from, initially?
Assuming employers still have the authority to choose their workers, it seems like this strongly incentivizes them to push out older employees and bring in younger ones. This is especially true given that competence does not seem to be a factor in how much people are paid. Any company would rather pay less for a more qualified employee than pay more for a less qualified employee.
Meanwhile, workers will probably object to the fact that after age 50, their net income actually starts going down (assuming we are also implementing the tax rate portion of your experiment, this is where the increased tax rate overcomes the increase in gross income). Employers will probably object to this as well on the grounds that it basically amounts to an indirect tax on them (since the entirety of every salary increase after age 50—plus a little more—goes straight to the tax collectors).
@kritiper It would start with government employees.
@RedDeerGuy1 If it starts with government employees, then there’s no point in increasing their salary after age 50. They might as well just keep the money for themselves and save on paperwork by paying their employees less.
I don’t really see the logic in it.
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