What I have proposed previously is a maximum income. Meaning from all sources, so not meaning maximum wage.
It could be quite generous. Like $50–100 million a year. If someone says they “need” more money than that on an annual basis, what they need is therapy and can damn well afford it.
Any way, anything above that cap would be taxed at 100%. Doing this, we could likely eliminate taxes for anyone under that cap.
In addition, tax capital gains at standard rate with no cap on percentage as exists now.
Impose a maximum profit percentage on corporations. Wages would be deductible but stock packages, premium benefits for executives and bonuses would not be deductible. Nor would advertising or stock repurchases. Above the cap, tax 100%.
Do this and we would not even have to have any discussion about low wage jobs.