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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.