Herman Cain on Obama's call for higher minimum wage
What impact would hike have on business?
- Duration 5:35
- Date Feb 13, 2013
What impact would hike have on business?
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Wealthiest nation on our.
No one who works full time should have to live in poverty and raise the federal minimum wage to nine dollars an hour.
Well President Obama wants a -- the -- wage but Herman -- worries they'll raise the unemployment rate while he's got it.
Check this out of the eight states -- an eight dollar higher minimum wage look at their unemployment rates are all well about the NASA Lambert's.
Only three -- -- or an exception.
-- back to raise some Cain.
500 C what do you make of that that you believe came from that fast food industry -- -- you -- well.
The impact this will have -- look look tell -- -- bureau colleagues and managers that they're gonna have -- up there are -- minimum -- what they're -- do.
Well -- have either gone to.
Have people -- less outlets.
All big on a hire less people.
That's typically what happens I saw one out of the godfathers went out of that Burger King I thought but I was the president of and that's -- rest on Russell's agent.
Here's what -- president is dead wrong.
If you work before us a -- wage increase from seven novels standpoint about since the nine dollars.
Guess what they've still -- dividend poverty.
Raising the minimum wage is not going to -- Evey body out of poverty.
Most of the reliable studies that bad neo shoals.
That there's gonna be job reduction but the people who need those jobs the most and those are the people with the least the -- -- I always thought that rather than put the emphasis on forcibly raising the minimum wage and putting all sorts of -- on business and and and -- resulting in fewer hires as you pointed out.
Maybe just to prove the business climate so they're more jobs period above but that does make but on the other thing -- It did the argument for this is that yes the view immediate reaction is.
A lot of people lose their jobs because the managers those stores restaurants went -- it.
Then then it's are cutting back on on on workers but things settled down -- -- hiring again.
Off to the races again.
-- -- -- -- Well what I say is that's not totally accurate for the following reason.
Businesses have only one option.
Went cost of forced on -- and that is that he -- eventually pass it on to the console much.
Now the median income in the last four years deal as you know be in the -- part of business that you are.
Has gone from -- the 4000 dollars to 50000 -- people already have less money.
So now you -- -- they have to pay more.
-- what they pay at restaurants even fast food and quick service restaurants it doesn't work that way the second thing that they're not taken into account.
Is that most of the companies that hire a lot of minimal wage workers.
They have those little wage workers because they have they every small profit margins.
They don't have a lot of room to maneuver -- People are trying to figure out how do.
But take it how to basically handle Obama care.
And it come out -- with a lot of creative things he would -- the track to stay in business that assumptions are simply.
You know -- on.
Obviously it's a -- of the president's those two to push.
And tell you know businesses to hike the minimum wage.
But it does put pressure on all businesses and even those that -- beyond an annoyed right because all of sudden the -- -- risen.
So -- wages have to go up across the board.
On what is the long term impact of that sort of thing because the president argues backwards people argue back.
Well you know business guys like Herman Cain had their way we'd still be -- an 85 cent an hour minimum wage we would have never -- moved it -- Here's another thing that the president and his about -- that have not taken into account.
In some states.
They already above the minimal wage just like you showed with one -- opening chart right.
What the wages should be.
What I was that godfathers pizza in some markets we have to be above the minimal wage.
Because of a shortage of workers so allow the marketplace to do it but you see.
The president and his advisors.
Total lack of business literacy.
That's what we're dealing with here.
And that's why he -- about that you know the amount dollar metal weights many of you know man is my favorite number but not in this case.
NASA that I'm wondering now.
What Republicans do in response and and you know because the president put them clearly on defense and -- -- you're here against the little guy you're against the average Joseph and JoAnne.
On an -- how do you respond to that.
-- the way -- responded that he is in fact that's under the Marco Rubio said it best.
I won't be the debate law that now about the now how do you get people to make more than nine dollars and -- You create a robust.
Growing economy which is what this president and this administration.
They have not done that.
So now they -- two.
-- Lipstick on this small economic -- by saying let's raise the -- -- and put all of those other programs out there that you talked about early yet.
And say it's not gonna cost of that.
Most the American people that I have figured out -- not that stupid.
Some people are but most people -- not that stupid to believe that Herman -- great see -- again be well.
Thank you may have been happy with the army game fortified.