Prediction: When this socialist experiment fails, you will not find stories of it from the same people who reported it.
Normally I would agree, however, this is not necessarily a "socialist experiment". No gov't is involved - it's not something that's being mandated - this is of his own free will, and I approve. I WILL, however, be very interested in seeing how it all pans out. I'd be willing to bet that those that were already @ the $70k mark, due to education, experience, etc. would be pretty upset. I'm holding judgement to see the results.