If you pay more money to the working poor who actually prop up this economy, well, we rich people will have to increase our demands too:
THE biggest slump in national output since Paul Keating’s early 1990s recession seems an awkward time to be contemplating a hefty across-the-board wage rise or higher interest rates.
Yet Fair Work Australia’s Geoffrey Giudice yesterday delivered a 3.4 per cent pay rise – worth between $19.40 and $38 a week – to 1.4 million or so workers on award wages.
Although purporting to help “low paid” workers, the decision applies right up the award pay scales and is likely to form a wage bargaining floor just as Australia’s biggest ever mining development boom heats up.
We cannot afford to let the widening chasm between rich and poor be in any way reduced!
(I love Stutchbury’s scare quotes around the words “low paid”, too.)
Oh, and in case you people struggling at the margins were in any way persuaded that your salaries increasing would be a good thing, don’t worry – we haven’t forgotten how to scare the shit out of you:
Wage rise threatens to push up interest rates
So shut up and leave us to gobble up all the pie. That you’ve been making.