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Switzerland Votes on World's Highest Minimum Wage
NBCNews ^

Posted on 05/18/2014 5:16:57 AM PDT by wetphoenix

Switzerland's citizens voted Sunday on whether to create the world's highest minimum wage of 22 Swiss francs ($24.70) an hour.

If passed, the Swiss would more than double the existing highest minimum wages in force elsewhere in Europe. Results are expected later Sunday.

Trade unions sponsored the wage proposal as way of fighting poverty in a country that, by some measures, features some of the world's highest prices. But opinion polls indicated that most voters side with government and business leaders, who have argued it would cost jobs and erode economic competitiveness.

Switzerland currently has no minimum wage, but the median hourly wage is about 33 francs ($37) an hour.

The Organization for Economic Cooperation and Development lists the highest current minimum wage as Luxembourg' at $10.66 an hour, followed by France at $10.60, Australia at $10.21, Belgium at $9.97, and the Netherlands at $9.48. The U.S. minimum wage of $7.25 came tenth on the list. The OECD adjusted figures for spending power.

Voters also faced three other citizen-inspired referendums Sunday. If passed, these would provide the Swiss Air Force with 22 of Saab's new Gripen fighter jets; impose a lifetime ban on convicted pedophiles working with children; and amend the constitution to support more family doctors in rural areas.

Referendums are a regular feature of democracy in Switzerland, which features a weak central government and strong state governments.

(Excerpt) Read more at nbcnews.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; Government
KEYWORDS: democrats; minimalwage; socialism

1 posted on 05/18/2014 5:16:57 AM PDT by wetphoenix
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To: wetphoenix

other than Banking what do the Swiss do?


2 posted on 05/18/2014 5:20:34 AM PDT by scooby321
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To: wetphoenix

Rejected

http://www.bbc.com/news/business-27459178

“Swiss voters have rejected a proposal to introduce what would be the highest minimum wage in the world in a referendum, first projections indicate....”


3 posted on 05/18/2014 5:23:12 AM PDT by PeteB570 ( Islam is the sea in which the Terrorist Shark swims. The deeper the sea the larger the shark.)
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To: scooby321

“other than Banking what do the Swiss do?”
______________________________________________
Watch time go by.


4 posted on 05/18/2014 5:23:17 AM PDT by AlexW
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To: scooby321

Shoot holes in cheese.


5 posted on 05/18/2014 5:23:42 AM PDT by FreedomGuru (Time for torches and pitchforks.)
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To: scooby321

my very distant relatives make watches.

one distant cousin makes ruby watch bearing jewels

The farm from which my great great great grandfather was chased in 1854 is also a vineyard and produces grapes for white wine


6 posted on 05/18/2014 5:24:09 AM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: wetphoenix

Marxism seems to be advancing everywhere these days - even hard-headed Switzerland.

Strange - the Swiss are notably level-headed; this doesn’t seem to fit with their national character.


7 posted on 05/18/2014 5:24:40 AM PDT by Jack Hammer
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To: scooby321
other than Banking what do the Swiss do?

Chocolate

Watches

Pens (e.g., Mont Blanc)

8 posted on 05/18/2014 5:24:43 AM PDT by Entrepreneur (We're past the tipping point - the only variable is the rate of decline)
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To: wetphoenix

Highest Minimum Wage = Greece


9 posted on 05/18/2014 5:25:18 AM PDT by Vaduz
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To: scooby321

Farming, cheese, chocolate, fourmatic versions of Benz etc.


10 posted on 05/18/2014 5:25:51 AM PDT by wetphoenix
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To: AlexW

Correct. They make watches. And chocolate and cheese. I think the most important point is that the Swiss have no minimum wage and are probably the most prosperous country in Europe.


11 posted on 05/18/2014 5:26:40 AM PDT by all the best (sat`~!)
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To: scooby321

I forgot one other thing.....

There is a Swiss company that bought the Tennessee technology for machines that grade cotton. They still have a facility in Tennessee and others in Switzerland. They are the standard for cotton grading technology.

Then there is Nestle....... global groceries


12 posted on 05/18/2014 5:27:33 AM PDT by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: wetphoenix

Hot chocolate mixes and candy will skyrocket....


13 posted on 05/18/2014 5:30:33 AM PDT by trebb (Where in the the hell has my country gone?)
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To: wetphoenix
I'm sick of the Swiss.
14 posted on 05/18/2014 5:33:05 AM PDT by MuttTheHoople (Ob)
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To: wetphoenix

http://www.freerepublic.com/focus/f-news/3157326/posts


15 posted on 05/18/2014 5:33:29 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: scooby321

Tourism. This should fix that.


16 posted on 05/18/2014 6:15:51 AM PDT by Dutch Boy
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To: scooby321

Count other people’s money...oh wait that’s in banking. A lot of companies are headquartered there. Other people are in the hospitality industry, since it is a nice country to visit.


17 posted on 05/18/2014 6:19:47 AM PDT by ExCTCitizen (I'm ExCTCitizen and I approve this reply. If it does offend Libs, I'm NOT sorry...)
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To: wetphoenix

These government set minimum wages ignore productivity. To pay someone $24 an hour their labor must generate more than $24 of revenue per hour worked. For jobs as in the fast food industry this is not possible without drastically increasing the price of those burgers and reducing the number of workers. It might well be cheaper to automate production rather than pay a non or semi skilled worker $24 per hour.


18 posted on 05/18/2014 6:20:59 AM PDT by The Great RJ
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To: scooby321

They control/own 19 Pharma Companies.

http://en.wikipedia.org/wiki/Category:Pharmaceutical_companies_of_Switzerland


19 posted on 05/18/2014 6:32:18 AM PDT by Grampa Dave ( Herr Obama cannot divert resources from his war on Americans!)
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To: The Great RJ

You hit the nail on the head...

Hourly minimum wage usually is close to the cost of a normal McDonald’s meal....say $7.25 minimum wage is cost of one meal...so increase minimum wage to $15.00 per hour and you get one of two things.
1. one meal costs close to $15.00
2. Employees lose their jobs to robots who work for less.

The latter will eliminate jobs for teens, who are in HS.

Seems counterproductive to me for the employee to fight for $15.00 an hour at fast food restaurants, when they can get a Pell Grant from the government, and train for a job that pays $15.00 an hour, such as a CNA...which takes about two months training including internship depending on state law. Sure they have to change patients diapers, but if they have babies they will have to change theirs too...good experience. Other options are bar tenders, hair stylists, barbers, auto mechanics etc, although some classes may take longer. Stick with that minimum wage job and work nights.

I worked my way through college....any work is worthwhile.

WE have the whining generation instead of the working one. And there are plenty of jobs out there, the teens in my family have had no problem finding work in this economy, although it takes looking and filling out applications.

The older one has a full time job with benefits now, after two years of community college and minimum wages at a grocery store...so getting off their keister is the first step to finding a job that pays well.

Higher paying job equals more payroll taxes to the government, thereby meaning more youth, who can get small grants to train for higher paying jobs...it’s a hand up for the poor, and promotes capitalism... not a hand out or an entitlement like food stamps. People choose work or choose an alternative. Smart does not always mean productive.


20 posted on 05/18/2014 6:52:05 AM PDT by Kackikat
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To: Jack Hammer

The Swiss rejected this absurd minimum wage by a landslide....77% of voters said no.


21 posted on 05/18/2014 7:32:49 AM PDT by july4thfreedomfoundation (I don't want to feel "safe." I want to feel FREE!)
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To: wetphoenix

“Switzerland currently has no minimum wage, but the median hourly wage is about 33 francs ($37) an hour.”

That comes out to about $74,000 per year, if they work 2000 hours per year(which probably isn’t the case there...but close enough). I don’t think we’re much more than half that. I guess our days are over.

Thank you, Mr. President.


22 posted on 05/18/2014 7:33:37 AM PDT by BobL
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To: wetphoenix

If this is true, why are all the illegal aliens still trying to come here. If they can pay 5000 dollars for a “coyote” to sneak them into America, surely they can afford an airplane ticket to Geneva.


23 posted on 05/18/2014 8:43:28 AM PDT by FlingWingFlyer (Obama's smidgens are coming home to roost.)
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To: BobL

You must be stuck in the 1970s to think US is a world top nation in terms of median income and overall quality of life. I think around a dozen of nations ahead right now in terms of PPP household income, not to mention other criterias and the rest of the world in catching up.


24 posted on 05/18/2014 8:46:16 AM PDT by wetphoenix
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To: wetphoenix

“Switzerland currently has no minimum wage, but the median hourly wage is about 33 francs ($37) an hour.”

That is a problem gov’t needs to fix!


25 posted on 05/18/2014 8:48:49 AM PDT by Rusty0604
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To: FlingWingFlyer

Old habits die hard. Not to mention Swiss is not as welcome to immigrants.
Anyway, their neighboring Germany is pretty much infested too.


26 posted on 05/18/2014 8:48:52 AM PDT by wetphoenix
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To: FlingWingFlyer
If they can pay 5000 dollars for a “coyote” to sneak them into America, surely they can afford an airplane ticket to Geneva.

Because the Swiss would toss them out on their keesters.

To immigrate legally you have to prove you have a skill set that they need.

If you are there illegality you are stamped "return to sender" and deported.

27 posted on 05/18/2014 8:50:20 AM PDT by Harmless Teddy Bear (Proud Infidel, Gun Nut, Religious Fanatic and Freedom Fiend)
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To: Harmless Teddy Bear

I’m sure many Swiss wish that were true.

The reality is that all one has to do is whisper that magic four letter word - Asyl - and they’re golden. At least for a few years until they’ve exhausted all procedures.


28 posted on 05/18/2014 9:29:04 AM PDT by Moltke (Sapere aude!)
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To: wetphoenix

“You must be stuck in the 1970s to think US is a world top nation in terms of median income and overall quality of life. I think around a dozen of nations ahead right now in terms of PPP household income, not to mention other criterias and the rest of the world in catching up.”

Not I. I’ve been SCREAMING about China passing us in GNP and people HERE told me that I was full of it. Now that its happened people claim to not be surprised by it.


29 posted on 05/18/2014 1:39:14 PM PDT by BobL
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