Vacation is a fringe benefit. If you don't like the benefits offered by the job, don't take it
Oh my god, imagine if people used this as an argument against the minimum wage.. Oh wait, they did, and it's still as hilarious as ever.
You know, I've heard this wealth redistribution malarkey way too much lately - primarily promoted by those who can't even spell economics. I'm going to try to make this simple --
Let's assume the rules of football (American, of course) were changed. If you reached your opponent's 40 yard line, you were awarded 3 points - if you made it to the 30, you got 5 points, if you made it to the 20, you got 7 points - and if you scored, you were awarded 10 points. BUT - if you attained one score and tried to get more, you lost the points you already had. For instance, if you made the 40, you got 3 points - but you forfeited those points to try to make the 30. If you made the 30, you were awarded 5 points - which you forfeited if you tried to make the twenty yard line. If you only progressed to the 21, you came away with no points.
So, let's play a game -- the first team gets to the 40, gambles, and makes the 30 - and voluntarily stops. Score is 5-0. The second team drives the ball, makes the 40, and then the 30, and gambles, and makes it to the 20 --- score is 5-7. That score continues until the last 2 minutes --- the first team (the one with 5 points) drives to the 40, making the score 8-7, in their favor. Do they stop, or do they try to expand their lead? Do they give up the lead in order to try to get further ahead?
The point is simple - you have to consider the profit gained in order to justify the investment - are they willing to invest their potential win in order to cinch the win? Some will - some won't. Some will go for it - others will take what they got, and try to make it stand up.
The same applies in economics - the reason money is invested is for the potential of return. If you decrease the potential of return, and NOT reduce the risk, fewer and fewer are going to invest. If investments are fewer, new jobs are fewer, and more people are out of work.
In addition, if you narrow the gap between failure and success, you minimize the incentive to take the risk. I would not risk my retirement pay in a new company, if I knew that all I was going to get (if I were successful) is my retirement fund back. If, on the other hand, I knew that I could potentially become a multi-millionaire, I would be more willing to take the risk.
Workers need to be incentivized, undoubtedly - but, they don't need to be incentivized to do the job for which they are hired. THAT is what their paycheck is for --- ask yourself - would you accept a pay raise of $1 per hour if I told you that means that you will only receive two more $1 raises the rest of your life, or would you turn down the $1 per hour in order to compete for a $20/hour raise?
Socialism, by its definition, promotes mediocrity - pulling down high level performers and falsely rewarding non-performers. Mediocrity, on the other hand, significantly hampers growth, ingenuity, and expansion.
Which do you want? It's up to you -