Does raising the minimum wage help or hurt workers?
Eric Bolling's economic tutorial for the president
- Duration 6:25
- Date Feb 14, 2013
Eric Bolling's economic tutorial for the president
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-- back to become 1015 style in the -- you mean the other night President Obama declared war on young voters when he demanded.
Raising the federal minimum wage.
From seven and a quarter -- nine bucks an hour.
Like to offer the president a little friendly advice a free tutorial in economics if you will something they don't -- -- community organizer school Mr.
Every time in the last fifteen years we raise the minimum wage unemployment jumped and who got it the worst.
You guessed it teams I'm gonna put my glasses on if you don't mind because -- needed.
From 2002 actually all the way to 2007.
The minimum wage is five dollars and fifteen cents at stayed about 1516%.
Among teen unemployment.
-- what happens when they raised it to 585 the following year oh -- he jumped eighteen point 7%.
The following year after that they raised the 65524.
Point 3% another race got up to 25 point 8% where is.
There -- it's been it's -- quarter since then it's starting to ease off but it -- Obama has.
Any any idea what he's doing in the economy he won't raise them in which college guess who what what what is present bombing -- such and.
The -- but you have such a bad economic professor.
The let me go -- yours and your affection and give you some facts is that from also that from economics class it was a do and I took -- -- an eight dollar.
Minimum wage which is higher than most they have 50% unemployed among black -- among teenagers most in the country.
I mean they are sad that 50% Democrat like do like -- cartwheels and have a 124 total war are sure to have that same agent Bob I think anyone can I finished sixth as the Ohio.
I'll -- Ohio S 78590%.
Unemployment Vermont has -- -- sixty in 19%.
The way that all of vote below -- and by the way eight net -- let's talk -- Ireland but eight and a quarter and other.
If you look they have 31 point 91 we -- -- we pick up the depression -- it went up with these effective energy picked every -- years and that the -- had -- going to be Paramount unit.
It always is the highest mark.
You're -- I just a little apples but within Gaza but the end of that but what.
Not recession yours right on -- still opposite end.
That's -- recovery and yet in this coming down drag it that I was being it was coming -- 101 point eight to 23 point four.
All this stuff is also unplugged so and most people that are in the business world -- defense -- a here we -- make it harder for those people to get a job great.
I it was a very interesting -- that in that Wall Street Journal today that talked about the earned income tax credit which if you adjusted it if President Obama went.
Try to help people and that way you could actually.
Do so it's enough so that people wouldn't get nine dollars an hour to actually work out to ten dollars and 32 cents an hour.
It would be just a different way to address it without harming the business community who wants to create my job they want to expand but this does hard and I think the numbers -- it out.
We're at where I -- very outward from one giant like there's been great.
Gonna every time Laviolette I'd like the last 850 years unemployment and -- bit -- jumped -- location.
Bill Murray says she didn't but I -- and a recovering quite let me give you -- -- the coverage coming out of average starting in June of 2009 and -- coming down -- any choice in school as him or economics I chose -- so bear with me.
I will say that was probably a better school than thank you very much.
That's an -- I figured she's fine -- noses that you got to over the -- -- -- -- Brett wanted to show basis for stories that I hear it is.
I was 335 and now we were coming up 335 an hour to guess what happens you do a good job get a race and -- you prove your value to the business.
I think minimum wage was never meant to build a career -- it was limited to start a career on and that's when you do and you know this you are working guy.
If you're working forty -- firm would have the minimum wages can't get that job at night.
It's -- you can work one job that pays you enough to allow you -- only have one job this is -- -- this isn't it that this isn't a destination.
I can't wait to get -- -- -- by the way.
He has his own business show why don't have your own Solutia that should really happy that you do other zoological -- -- -- because they always forget my wife Texans he's so can I go and I just expand on what -- had also it's not just the people ought to get another job.
They get comfortable making nine dollars an hour so they don't seek bettering themselves learning other skills to get out of may -- that minimum wage -- I think from a PR standpoint.
I think Democrats do this to the right -- this is a very common trap for them.
And they did it with state of the union you say things like -- the minimum wage it sounds really great if you're against -- all of a sudden you're not.
In your favor of workers that I can tell you if you raise the price of -- you definitely get -- that you know -- don't let it clearly sick.
-- you -- in middle of bad economic tell you all say this recession go and I've -- right now as far as I know rather know.
But listen haven't.
Amber's gonna get put -- going to be fewer hamburgers but right now I don't know what I want hamburger there.
That is being -- is gonna cost the customer you've got to you've got more pet market had to shut their jobs are lost out.
Can I guess I'll -- you upside your ideas about how did that that -- study by the southern.
Something institute -- having off the top of my head is and said that she says that at nine dollar minimum wage would cost 467000.
Jobs well I think you ought to come with the surgeon who is right about that and not -- -- -- our organization is a quick angle here is if I make.
A lot union jobs are paid on minimum wage times one times two times three.
Is this just a payback to the unions.
I think that it was yeah well I think that you could you could look at it that way and there is better and smarter policy for exit.
The guy his flip hamburgers for nine dollars an -- I don't think that he wants -- job hunting is comfortable.
I think he wants to be able to go to work in the energy industry for example where we could actually help build a pipeline or start a business that -- beat the guys that are making a pipeline or helps.
Picks that trucks that are helping take the supplies to the step into the pipeline are things that we could do in this country to help create better -- even -- And more jobs and better opportunities for -- Make it's stunning it's the southern economic journal reporter my man discuss how the Greek diner is it June usually talking about -- top line talking about restaurant I would tell you firsthand they will limit the hours and well employers they -- -- -- -- 1009 and it disproportionately affected young people.
-- that women should Russia showed me but anybody -- -- exaggeration that you gotta go minimum wage laws that it would.
Yeah I don't put one up but didn't have that additional anyway -- -- got a good economic coming out.