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 ...
The Swiss rejected this absurd minimum wage by a landslide....77% of voters said no.
“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.
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.
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.
“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!
Old habits die hard. Not to mention Swiss is not as welcome to immigrants.
Anyway, their neighboring Germany is pretty much infested too.
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.
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.
“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.
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