Could, but won't
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That would require either a massive unified movement of the people to fight for workers' rights and wealth redistribution, massive scaled and well designed goverment regulation, or employers to willingly decide to demand less of their employees and pay them more... by definition, a billionaire is incapable of saying "no... that's enough return on my investment". There is no way that they will willingly pay out more than they need to for anything, least of all for part time human labor.

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