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Minimum Wages

@Miles The idea is very simple: People in the lower income class spend nearly 100% of their money - which is good for the welfare and ensures the jobs of other services. People in higher income classes are not even able to spend all their earned money. They will bunk it somewhere, somehow, most of the time not in a sustainable way nor in a way where the national society could benefit from (remember tax havens, letter box companies, cum ex, etc).

So if you want to increase welfare then increase the lower income and put higher taxes on higher income (don't worry, a billionaire wouldn't even notice an increase of 20% in his daily life) In my eyes, billionaires should have a 100% tax on their income since they are already rich enough and don't need to become any richer. And they did not become rich by their own work - it was the work from others that were eductated by states and that have much lower incomes.

@Miles Your arguments are lacking. Look at Switzerland with their minimum wages. In many points I disagree with the policies of Switzerland. But their behaviour on minimum wages is a good example for the rest of the world. Switzerland is one of the wealthiest countries on earth, and even people with a so called low income earn much more than many academics in their neighbour countries. For example in 2019 the minimum wage in Neuchatel was 20 CHF (something like 19 €) + extra payments on weekends and for holidays and including one extra monthly payment per year (means 1/12 extra) - remember: regulated by law! Even hotel and catering buisnesses have to pay the extra payments on week ends. Where else can you find such fair working conditions for low incomes? And still the jobless rate is less than 5%. Although they have a quite high rate of people who don't have any professional education (10%).

Not to mention it raises the prices and make poor earning people lose their jobs since it is a lot harder to maintain them. Imagine losing your job and every price starts to rise up. Also, minimum wage absolutely destroys the poor population's change to get low earning beginner jobs and rise slowly because companies only hire fewer people with better skills. This is a natural reaction to the minimum wage.

But also yeah, it's kinda dumb that capitalists like minimum wage increases (assuming capitalists means the people owning the factories and corporations). It's completely contradictory to what's in their self-interest which is to pay the worker as little as possible for the most amount of hours.

To settle the completely brain-dead debate here that seems to be dominated by right-wing talking points that are not grounded in reality, the vast majority of studies into minimum wage increases support the notion that the raising of the minimum wage does not increase unemployment to ANY substantial or significant amount. Any jobs lost would be in frictional unemployment which is perfectly acceptable and considered a healthy function of the market, as those in frictional unemployment will inevitably find another job.

This mod is unrealistic . Minimum wage only raises unemployment . It doesnt kill poverty and it doesnt raise poor earnings
Also it makes socialists happy , and capitalists unhappy .
I do not recommend this mod .

"This mod doesnt make sense. Capitalist would not like min wage hikes. Historically, they've not only fought against them, but are trying to abolish it"

??? {LINK REMOVED}https://www.nelp.org/blog/leaked-poll-for-chambers-of-commerce-shows-business-execs-overwhelmingly-support-raising-the-minimum-wage/

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This mod doesnt make sense. Capitalist would not like min wage hikes. Historically, they've not only fought against them, but are trying to abolish it (most likely because they want to pay their employees even lower wages, otherwise why bother?) This then also means conservatives dislike it. Additionally, while it does indeed decrease poverty, it's actually more likely to increase unemployment as more capital directed to individual wages means less capital to "spread around" to more employees, which leads to fewer employees. Is a VERY basic economic reality I don't see why you missed.

The effect on unemployment is too low, raising the minimum wage to 20 would have caused a much higher unemployment