why has no one ever talked about a maximum wage?

Thats the stupidest thing I have ever heard. The average minimum wage employee works for minimum wage because they don't have any profitable skills. The system you have is rewarding those who didn't put effort into their education early on in life, and then say they work harder than the people who push themselves to their limits to be successful and come up with profitable ideas that advance society. It the people who are innovators make a lot of money, then most likely that money will be invested in other sources to develop better technology and a better standard of living. Say if ford only profited by $5000000 per year, then they wouldn't have the money to make their cars more fuel efficent or affordable which will not only harm them but the middle class and even the minimum wage employees who will buy those cars in say 10 years time after they are released. With a maximum wage, our technology wouldn't progress and neither will the standard of living over the long run.

There already is an "effective maximum wage" for every person in the world. The maximum wage is defined as the largest amount of money a person or business is willing to pay for your services.

Some professional golfers make millions chasing a little white ball around a pasture. Others make $7.75 per hour stocking store shelves.

If someone is willing to pay Tiger Woods hundreds of thousands of dollars to compete in a tournament ... who am I to complain.

Because then a lot of people starting corporations wouldn't bother and there would be even more unemployment than there is now.

because the concept is stupid on its face

So why should I beat myself up running a corporation, employing thousands of people, producing products which perhaps improve thousands of lives, working 16 hours a day to do so.

You are going to come along and forcibly steal my profits.

OK I will close down, put all of those people on to welfare and take that part of the $5 Million a year you so generously allow me to keep and live off the royalties from the things my company has invented.

Oh no, sorry, there won't be any welfare, someone has to pay for that and since I am not earning, it won't be me!

There was a country that ran on those principles for about 70 years. It was called the Soviet Union and its governing principle was called Communism.

Strangely, a lot of their top men managed to make more than 5 Million a year!

So, do you think that once the store down the street has sold enough stuff to reach the $5million cap each year, it should be closed down? Should all the people who use to work there should be sent home? Anyone who wants to buy something there should just do without? Once your cable company has made $5 million dollars, they should just cut off everyone's internet access for the remainder of the year?

Oh, and the minimum wage doesn't prevent you from making too little, it prevents you from getting a job if your skill set advanced enough to make you attractive to an employer (e.g. young or unskilled workers).

The minimum wage was established so that a person was guaranteed to make a certain wage no matter the caliber of work that is performed.
Where a maximum wage isn't warranted as people with desire and ambition will put forth more time and effort to achieve their personal goals so to cap their earning potential would also cap their personal drive to achieve their desires and their innovation to get it done.

Many people have discussed it.

It is an attractive option, especially to the middle and lower class.

It has not panned out for many reasons, one of which is that it would not solve any problems. People and businesses would still need to find ways to communicate value. Freedom in pricing and wages is how we do this now. Without such, there would just be benefits or gifts conferred in other ways.

I admit it is a romantic and attractive idea. But if you really explore what would practically happen, it would be a useless legal formality.