Not quite that extreme. ~AUD$4 for the fnacy brand which is under USD$3. Less for the loss leader store brands. Looks like 10% difference in cost of living by

Not quite that extreme. ~AUD$4 for the fnacy brand which is under USD$3. Less for the loss leader store brands. Looks like 10% difference in cost of living by official figures but regardless the median wealth being so much higher isn't due to a few percent difference in cost of living or a small difference in average age as some suggested. Australia is objectively doing better on the wealth gap leading to a higher median (but not a higher mean). You can look at USA wealth historically too and see the USAs decline in median wealth over the years (but again mean wealth is doing fine). It all comes down to the thing we all know and have heard a lot. The wealth gap in the USA is increasing a lot. The lowest paid workers are now well into the poverty zone. The arguments against minimum wage are similar to the arguments for Asian clothing sweatshops.