Rather than trying to put caps onto salaries, in an attempt to prevent runaway wage growth, why don’t we just set up a progressive income tax such that: the more you make, the higher your tax bracket?

Everyone can start out with a base deduction plus social security insurance, health insurance and state/local tax costs, and then pay a flat rate at various steps thereafter.

My steps would be tied to the median household income (MHI) . For every multiple of the MHI, the tax rate would increase. The actual tax rate should be set such that the federal budget would be balanced i.e. the government will collect enough money to cover its expenditures for the year.

The base deduction for a single individual should be 40% of the MHI. For a household, the base deduction should be the MHI.