Why LKY hates Minimum Wage

On Oct 20, 9:39 pm, "truth" wrote:

> This is tragic.
> Lee Kuan Yew's ideas are stone age. It is irrelevant and
> contradictory to the current world environment and mood
> and has been proven wrong again and again.
> Anyone who follows world news and events can easily
> tear his argument apart.
> Take for eg his argument against minimium way. He is
> against minimium way because he believes that it will reduce
> employment. This is absolute rubbish. Australia has been
> having minimum wage for so long and the economy is the
> strongest in the developed world. Singapore don't have
> minimum wage and yet it ended up with a deep recession.
> Australia has minimum wage and it did not have a recession
> after the global financial catastrophy.


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  2. But did you know Australia has a Massive Local Industry, one of which we singapore heavily imports( dairy and meat industry) they encourage and have gov. Support for businesses own by locals. Hi subsidies and benefits. Because they believe this would inturn support local economy. Hence having minimum wage policies inturn helps the country by means of hi incone tax.

  3. The income tax goes to health benefits, lo-icome house hold aid etc etc. all the supposed welfare.