Also in this playlist...
This transcript is automatically generated
Let's get -- Yeah -- -- this -- Gary B Smith Tracy Byrnes Jonas Max Ferris John Layfield along with David Mercer welcome to everybody.
Okay is -- Gary B will maximizing.
The minimum wage minimize or maximize our job growth.
Well I'm Brenda it's gonna kill job growth especially.
In when -- get right down to it what the the minimum wage does it discriminates against less skilled.
Workers it's plain and simple New York in 20042006.
Raise their minimum wage for about 515 to 675.
They saw a 20%.
In unemployment against younger skilled.
Younger -- lesser skilled workers.
-- in 2007 before the recession started.
Unemployment amongst young black teenagers I wanna get the figure Wright was about two point 9%.
After all the stimulus and and what we've done it's now 40%.
So it's clearly -- works against these workers and you know the argument that the left makes -- well these businesses can't afford a first ball both small businesses -- can't afford.
To pay more but even if they could it sounds like wow it's it's magic even if you're Wal-Mart they -- -- they can afford it.
I'd like that left -- no what happens with those earnings that go out ads you know -- for wages.
Those earnings are retained its profits so Wal-Mart Sears whatever can build.
Businesses and hire more people to have less profits to do that they can't expand their business.
It also hurts and outright horrible David I think he's got -- right do you what do you -- back.
Well I'll say that with all time profits.
Now being experienced by corporations.
It's about time after four years that workers.
Get a fair share of that.
And I think in doing so you also help the economy.
By giving them more affordable wages to -- have more economic security that puts in more buying power and increases demand that overall increases.
Growth in the economy leading to other hiring so in that instance I think it's about time that we way we raise the minimum wage.
John -- just just ignore supply and demand than in the job market yeah it does ignore supply and demand completely like -- -- about the argument here that.
These companies are making so much money how dare they make so much money.
And all of the jobs plan -- you got companies have a lot of casual -- seats so the jobs plan the administration is we want to take that cash and how are people you don't need.
That look the minimum wage affects only about two point 9% of workers and understand the average -- -- has a minimal wage worker it makes 53000.
Dollars per year people are in part because they don't have jobs people are not in poverty.
Because -- making minimum wage.
And talking about jobs Tracy the job creators small business Gary mentioned -- are they don't want -- -- gonna get hit hardest by the yes absolutely I mean you raising minimum wage they can't afford the extra dishwasher in the kitchen.
And why Sunday when they can have family members do it it hurts this entry level jobs it's gonna hurt our teenagers.
Quite frankly Brenda about the go and -- is not to be on minimum wage for ever I think forget this.
That's your entry your goal is to do a great job and get promoted to move how -- -- so this notion that we're gonna keep raising it just to share the wealth because well.
We're almost socialists anyway at this point is ridiculous.
Okay -- you know unions are really pushing that's why do you think that -- Because they're losing members that are way above the minimum wage and need to get a whole new group of people -- and wage workers working fast food restaurants but that's that's -- side story.
You know I was there should be a correlation between raising the minimum wage in and higher unemployment because it makes sense -- raising the cost of labor unit -- -- last night.
Believe me there's not an -- and look forward to people look forward some states have higher minimum wage -- -- -- got off a much higher minimum wage in the federal level.
And there in the top half of cutters a low unemployment a state low unemployment.
Georgia's got a really big out of their own state wages lower than the minimum wage and it got really high unemployment so.
It's really hard to say college it blatantly causes unemployment it showed the navy's consumers lower middle level that would cause -- -- -- love what you consider it it would cause massive unemployment but.
We had a higher level in the past adjusting for inflation we're not there yet I don't know why Democrats when they were in power.
Didn't said indexed to inflation to get this debate -- -- -- uses a political tool to win elections because it looks like you're going to mean for the working man.
Because they're gonna solve this problem like Social Security a long time ago by indexing -- inflation okay Gary -- Even shaking your head well if personal I just gave Jonas an example you have to look on a state by state basis he can't is very difficult to compare minimum wage across the states across the country because it's -- it's alludes to.
Every locale is different but you can't look at as I said New York State second to David's point he -- You know again I wanna come back to the point if it's a Wal-Mart for example we things well that's enough money to pay their employees more.
-- maybe they do but the fact is Wal-Mart takes those earnings that they have.
And they open more stores I don't know what average Wal-Mart store employees -- -- employs -- thousand workers.
If they have let's.
Earnings because they're paying -- other people more they can't open that store and then they can't employ another thousand workers and in fact they play the CEO pay cut the CEO -- -- hundred no money.
-- gonna watch what's going on the other 200000 Wal-Mart and Arnold is opening up stores in there in favor of raising the minimum -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Way if -- you know look everybody's been waged and who if the minimum -- raise.
That's where everybody that means it's an equal playing field now -- McDonald's McDonald's has to pay -- -- -- -- just like any other hamburger maker.
And also added that it is that is that is the case okay John with the federal minimum -- now it's nice not equal playing field what -- -- -- populist message this is nothing -- political Malarkey going out there this say hey look we're trying to help the small guy you're not trying to sort of hard to restrain I don't know about way.
It's not political it means then I'm okay wait and benefited and Wal-Mart like Wal-Mart -- -- -- -- got -- worse and he say they pass the Wal-Mart roll 35000 -- Peter Moore but all aspects Wal-Mart you have to pay your boys twelve and have dollars an hour.
50% higher than -- better sworn in Wal-Mart detonated a Smart thank you said.
We're just not about Lebanese -- exact Wal-Mart edged lower food inflation about one percentage point that helps -- -- they don't get that BC because of this political.
-- I just say Wal-Mart confined its market somewhere else.
Because the -- played great job our program very good job.
That there are offering at the wage there offering me jobs that -- jobs when you were fine.
-- -- and every market helping people lined up for the job if the job more so horrible didn't want to you don't I don't -- look for the job.
And let Wal-Mart -- as we also had its wal mart's business let them do what they want.
He's he's not have been like this and about Wal-Mart but they're paying people higher than their competitors as it is right now but -- -- -- despite -- -- saying you know what Wal-Mart if you don't pay.
Then wal -- -- while I'm not gonna provide a thousand or 2000 and -- is that what you want.
What there will be others that come in that CNN's yeah.
And branded say this is small business story to like written -- -- have created the jobs in our country used to boast it weren't looking to these people to give opportunity out there.
And you know what if -- raising minimum wage to like ten dollars that's not were -- -- need to hire the dish while you're in the back -- eleven million dollars.
-- -- -- -- It's not important I think for me you have to remember that so then there goes another job it just makes -- well well and and Jonas says it also stifle other start up businesses from getting into.
Into the business and hiring other work -- workers.
I just don't think a lot of start up businesses are -- minimum wage worker in this economy it is definitely -- again is a level that would hurt the economy but isn't listening going on here also which is that.
The government already redistribute wealth to lower income people.
And this is sort of mandating that a company does it with their essentially excess profits that they would pay an above market rate for the same labor however if we did that -- What -- -- also -- the earned income credit and food stamps nor -- other stuff that lets people artificially pay people low wage because they're being subsites -- house nothing else by the government could actually balance out.
I'm sorry just we got to pay our bills but you guys -- earned your salary without one bank that.
Filter by section