₦airaland Forum

Minimum wage is fixed by law in organised countries so that the lowest paid people can pay income tax without any hassles. Accommodation is made for income tax payment such that the remaining money after income tax is removed is enough to live on. Government revenue in industrialized countries depend on taxes paid by the working class including the poor and middle class. Not the rich only but millions of workers. If a nation wants to formalize her economy, the starting point is to fix a taxable minimum wage for all workers in the economy and the market will adjust to accommodate this new minimum wage.