Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,156,515 members, 7,830,529 topics. Date: Friday, 17 May 2024 at 01:47 AM

Minimum Wage And Nation Building. - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Minimum Wage And Nation Building. (151 Views)

Ramadan Message: Fayemi Urges Muslims To Promote Peace And Nation-Building / NYSC: Is Minimum Wage And Arrears Feasible. / New Minimum Wage Begins Before End Of Sept ―FG (2) (3) (4)

(1) (Reply)

Minimum Wage And Nation Building. by lawani: 11:44am On Sep 16, 2020
In industrialized nations, minimum wage is an amount imposed on all employers of labor by government. No employer of labor may pay less to any worker. Minimum wage is always high enough that income tax deduction will leave enough to live on. In organised and formalized economies, the higher the minimum wage the higher the government revenue from income taxes. It is not like that in Nigeria where only the government and a few other players in the economy pay the minimum wage because the majority of the economy is disorganised and informal. Minimum wage in Nigeria takes money out of the hands of government by way of wages of civil servants but increases government revenue in formalized and organised economies. The way out is to formalize and organise all national economies so that an increase in statutory minimum wage will always lead to an increase in government revenue from income taxes. This is the beginning of nation building.

(1) (Reply)

Lawan Canvasses Strengthening Of Local Capacities In Oil And Gas Sector / Edo Election: Keyamo Silent As PDP Accuses Him Of Vote Buying / Kaduna State Governor Declaret 3 Days Of Mourning For Late Emir Of Zazzau

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 12
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.