Comment by pc86

I don't see how it couldn't result in lower wages over time, especially for folks who are good at negotiating, have planned their career/company moves out over years or decades to maximize salary, etc. Businesses have a budget for payroll, not every business owner is Scrooge McDuck hoarding their gold coins. You have a distribution in pay for lots of reasons, and if you try to eliminate that you're going to end up with the same amount of money spread across the same amount of people in a slightly different way, but everyone at the upper end loses out.