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Australia Proves Republicans Wrong With a Growing Economy and a High Minimum Wage
After President Obama called for raising the federal minimum wage to $9.00 an hour, the Republicans have been insisting that this would hurt the economy. The issue is the fact that more people would be getting a raise, and that means more money flowing in the economy, which would go back into businesses.
Here is a fact. Australia has a minimum wage of almost $16.00 an hour. Since 1994, they have averaged about 1.75% GDP growth per year.
Here is another great data point. According to trading economics, the unemployment rate never exceeded 6%. These two data points that the GOP has been selling the American people are proven false, at least by the Australian economy. The fact that Australia is the “extreme” of examples, but I am sure this is the norm.
To top this all off, the ultra conservative Heritage Foundation ranked Australia as the third most freest country regarding their economy. “Australia is ranked 3rd out of 41 countries in the Asia-Pacific region, and its score is well above the regional and world averages.”
Amazing that once you dig a little and look into news and numbers you find that the Republicans know very little about reality. They just live by talking points and theories.
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7 Responses to Australia Proves Republicans Wrong With a Growing Economy and a High Minimum Wage
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djchefron(Moderator)
Feb. 14th, 2013 at 7:55 pm
“If the misery of the poor be caused not by the laws of nature, but by our institutions, great is our sin.” Charles Darwin
djchefron(Moderator)
Feb. 14th, 2013 at 8:09 pm
Dont let the headline scare you just read the story
The Minimum Wage Is Stuck at $7.25; It Should Be $21.16 — or Higher
inequality.org/minimum-wa...
zelduh
Feb. 15th, 2013 at 4:21 pm
A wealthy German industrialist was interviewed on an international cable business program. An American reporter on the panel asked him about the high taxes he paid in Germany. The rich guy was simply not interested in talking about his taxes, but the reporter would not let it go. He demanded an answer from the wealthy man.
Exasperated, the rich German said. “I just don’t care about the taxes I pay.”
The reporter was stunned and speechless for a minute. Then he blurted out, “But why? Why don’t you care about all those taxes you pay?”
The German replied;
“BECAUSE I DON’T WANT TO BE A RICH MAN LIVING IN A POOR COUNTRY.
I like safe, solid roads and bridges. I’m happy that air borne illnesses, like avian flu and whooping cough and Tuberculosis are reduced; that our food, air and water are safe and clean. I prefer that all people are educated, rather than just my children.
And I LOVE THIS COUNTRY that has given me such blessings.
THAT, sir, is why I don’t care about all those taxes I pay.”
Layne
Feb. 15th, 2013 at 4:34 pm
Well said and a very smart German!
Gary Reber
Feb. 16th, 2013 at 5:53 am
Of course, a GDP growth rate of 1.75 percent is puny. The stark reality is that we are in a depression reflected in rising unemployment and underemployment and instability that we will never escape from until we change our economic policy. Increasingly, more Americans will not be able to ever purchase a home, due to the packed inflationary wage and welfare base factored into the cost of building homes, which inflate prices, and will be forced to rent their entire life or depend on government living assistance––not able to accumulate equity that can help to sustain them in their retirement years. And this is the new reality now facing people in the middle class. The uncertainty of holding onto a good job is frightening to an increasingly wider base of middle-class working citizens. When you factor in the average non-salaried worker, even with a government-mandated minimum labor wage rate of $10.00+ per hour in some states, the outcome is grim. Never mind that consumer demand continues to dwindle because of insufficient income, solely tied to labor worker wages. The impact of the decline in consumer demand due to declining labor worker wages is that production will decline or desist without sustainable consumer demand.
There is a solution, which will result in double-digit economic growth and simultaneously broaden private, individual ownership so that EVERY American’s income significantly grows, providing the means to support themselves and their families with an affluent lifestyle. The Just Third Way Master Plan for America’s future is published at foreconomicjustice.org/?p....
To stimulate the economy to grow GDP at double digit growth rates support the Capital Homestead Act at www.cesj.org/homestead/in... and www.cesj.org/homestead/su...
Ann
Feb. 17th, 2013 at 5:54 pm
Richest country in the world with third world wage thanks to the greed of republicans and Reagans determined war on the middle class.
Shiva(Moderator)
Feb. 17th, 2013 at 6:06 pm
They talk about American exceptionalism yet there are many other countrys with higher minimum wage then us. The only thing exceptional to them is power and the ability to kill.