What is the difference between the democratic philosophy to the republican philosophy?

Crudely, the republican philosophy supports the working class and the idea is for the employees to get a maximum wage out of their employer. The democratic philosophy supports the opposite. The employer tries to make the most of their assets and from their workers at minimum expense.

I'm Australian and here we call them Labour and Liberal. I could have the USA names back to front but I'm sure you can figure that out correctly.

Yes, you have them backwards.

Liberals aka Democrats are for the people and Conservatives aka Republicans support big business.