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[remedial knowledge of the subject].

Australia in particular has a minimum wage of $18.93 AUD, which is also indexed to inflation. Speaking of inflation, Australia's rate is less than 2%.

The old saw that more wages for poor workers leading directly to high rates of inflation was never anything but a pile of elitist bullshit.

According to fairwork.gov.au, the current Australian minimum wage is AUD$16.87/hr, which at current exchange rates is only US$13.35/hr.

Up until about a decade or so ago in Australia, some clever private individuals established companies and worked their 9 - 5 job through the company, enjoying much lower tax rates and other such benefits of corporate law (shifting losses to other years, etc).

The Australian Tax Office stepped-in and declared if you look like a private individual, walk like a private individual and quack like a private individual ... you're a private individual and will pay tax at the appropriate rate. You'll also receive a fine for trying to be clever.

This isn't the way I remember it - unless we're remembering different things. From what I recall, companies were forcing their employees to get a business number, and hiring them as contractors so as to avoid paying for entitlements like superannuation, holidays, etc. The Fair Work Ombudsman slapped them down.

In any case, you'll pay more tax as a company than you will as an individual - you will pay corporate tax on your company's profits, and then personal income tax in all money that you receive from your company. If you spend corporate money as if it was your own to dodge tax, then ASIC will want to have a long, hard talk with you, regardless of what the ATO does.

Australia has a minimum wage of about $15 right now. And the unemployment rate is less than 6%.

Those 20 and under can make less. 16-year-olds in Australia have a minimum wage of $6.03 AUD.

At the bottom end, probably so.
Minimum wage is $15.95/hour http://www.fairwork.gov.au/pay/national-minimum-wage/pages/default.aspx/
At the higher end they probably make less.

Doesn't Australia have the same "might is right" style of employment laws we have in the US where they can just fire him for not being a team player or spending too much time in the can?

No. http://www.fairwork.gov.au/

Not easy in Australia either - http://www.fairwork.gov.au/termination/pages/default.aspx

Australia's minimum wage is AU$15.51