Jeremy Corbyn actually suggesting a maximum earnings limit

Jeremy Corbyn says he would like to see a maximum cap on the amount people can earn.

The Labour leader said he thought introducing the limit would be “the fairer thing to do”.

Mr Corbyn said he was “not wedded to a figure” but told BBC Radio 4’s Today programme: “Let’s look at it.”

He said the UK’s levels of income disparity were getting worse, saying this cannot go on “if we want to live in a more egalitarian society”.

“I would like there to be some kind of high earnings cap, quite honestly,” he said.

Mr Corbyn added: “We cannot set ourselves as being a sort of grossly unequal bargain basement economy on the shores of Europe.”

reports BBC News

He really is a bit nuts. It’s very hard for anyone to stomach a 100% tax rate for higher earners.

There is no way Labour can win an election if that becomes one of their policies. They’re already struggling to connect with people, partly because of the perception that they’re too far left.

To reduce income disparity, it’s far more effective to increase the incomes of the lower earners than to cut the earnings of the richer few. Sure, you can increase taxes on the high earners, but that still doesn’t do much if the poor aren’t benefiting significantly more.

And I thought New Zealand’s Labour party was struggling…

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