Opinion: Why not a ‘maximum wage’ for companies worried about a higher minimum wage cutting into profits?

To the editor: The state of Missouri may have done the right thing in keeping the minimum wage at $7.70 per hour, including in cities like St. Louis, which had boosted minimum pay to $10 an hour. (“St. Louis gave minimum-wage workers a raise. On Monday, it was taken away,” Aug. 28)

McDonald’s, famous for paying minimum wage, would have really suffered and no doubt would have closed down its operations in St. Louis if it was going to be forced to pay $10 per hour to its workers. After all, its net profit last year was only $4.7 billion.

I have a suggestion for Missouri. Why doesn’t it cap pay for managers? About half of salary expenses at McDonald’s go to management, where the employees are all paid considerably more than minimum wage.

Maybe we could have a maximum wage law. This could add substantially to McDonald’s profits — which, of course, is what really matters. For example, if it were to reduce a top executive’s salary from $500 per hour to, say, $300, profit would increase by about $400,000 annually — and this if just for a single employee. See what I mean?

I hope Missouri and other states give this “new idea” some thought.

Owen Keavney, Pomona

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