One measure against inequality: the "Times 7" Model for Incomes

Here's an idea (not new at all, of course, but perhaps worth renovating in the current climate).

Labour announces that, if elected, it will enact legislation to the effect that incomes will be managed in New Zealand such that the highest gross salary paid in a concern can be no more than seven times the average wage paid therein. Thus, where the average wage is $60k, the highest salary cannot exceed $420k. I reckon that the screams of pain from the Right - especially those arguing about an outflow of talent as a result of a such a measure - will, in practice, be matched by layers of people who agree with the idea. Moreover, I think that "leaders" will emerge to manage companies on that basis, and will be as good as the ones we have now (who hardly impress, after all). And if people want to throw their toys about it, good riddance. Take the hit and adjust. My guess is that, over time, it would become an investment attraction, rather than the reverse.

I would couple it with a "basic income" model, as I've blogged before.
Why "Times 7"? Because back in the '50s and '60s, that was a ballpark reality (as I remember the data).