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Rangel: Minimum Wage Hike Would Promote Spending

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    Rep. Charles Rangel, (D-N.Y.), on raising the minimum wage.

  • Duration 5:33
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Tonight.

Let's declare that in the wealthiest nation on earth there.

No one who works full time should have to live in poverty and raise the federal minimum wage to nine dollars an hour.

President Obama calling for -- nearly 24%.

Raise in the minimum wage by 2015 in an effort to offset what the white house calls.

-- -- and equality joining us now is New York democratic congressman Charlie Rangel congressman always terrific to see you.

But -- and know how raise in the minimum wage will create jobs in this country which we do need it.

I think is very simple when you find -- -- in the poverty range of very very low income.

It means that they use and they spend their disposable income.

If they don't have the luxury of being able to save it so that means that they -- -- these.

Local merchants they -- food they buy clothing they buy things that really small businesses -- bought.

And when that happens -- these small businesses cannot have more people but it people who don't have the money in people living below the poverty line.

They cannot but I India and a recession that's what we're talking about the ability to make certain.

That we have people that -- consuming goods and people is selling it.

But congressman on the flip side of the job creation argument there's been much research done by economists.

It's -- shows that when you raise the minimum wage like -- it'd actually hearts job creation.

Among the lower skilled workers will calls the businesses cannot afford to go out there and hire new workers in fact.

Is often the teenagers of higher and -- fan -- That benefit from these who augment these wage increases.

It is true that we do find a lot of people in the service trades that.

Hired people that the minimum wage in competing against undocumented workers but you never -- the people.

That at the poverty level that I complaining about increases in minimum wage and we do know that money is going to be spent.

And so -- -- really work that they each and every day and come home and you still pull off.

That it just seems to me that that's not -- worthwhile argument you can always say.

That she's spending too much more money on the people who are working every day and that we've got -- -- and then if they get a raise but.

The fact of the matter -- CEOs have had -- breaking explosion.

In terms of the billions of dollars they have making.

And congressman not a big jets haven't kept up.

Whether -- but not small business -- think coming from a family that ran a very very low margins small business.

Alternative.

When the minimum wage was increased was always either cutting people's hours R&R lay and at least one person off.

So I mean do you have to balance the two are you willing to sacrifice some jobs if it means raise in the minimum wage to nine dollars an -- and I.

Really don't believe that the evidence is clear.

That increase in the minimum wage means that we going to lose jobs you know hopefully you have this argument.

You never would have a decent wage -- people.

And every time you try to improve the working conditions.

Whether we talking about sickly whether -- talk about vacation time it's always a question that if I have to playbook.

I'm glad to five people -- -- hi Eric I know nobody should worry.

-- -- every day forty -- so weak.

And at the end of the day they'd be -- living below the poverty -- congress I don't get about 1450000.

Dollar.

151000.

Dollars and -- -- Well I'll put it team this way President Obama ran on this issue in 2008.

And suggested raise in the minimum wage to.

Nine dollars and fifty cents an hour sit that was such a great idea at a job creator why didn't he do it in the last term.

Well I'd say one thing we've been through crisis and I think you'd have to agree.

That they conditions that he inherited have dramatically improved in the last forty years and the fact that we.

Unemployment is is going down not as fast as we would want it to go down.

People looking buying homes again so -- on the right track.

And I think we should give this an opportunity but.

I didn't need but if -- was gonna help the economy and job creation and help people why didn't the president really Linda or in the last four -- -- I guess we kids.

Read the whole afternoon -- written by the president didn't do a whole lot of things.

The real question here is that you think in the United States of America.

People work forty dollars a week.

And -- -- of Bob Vila do you think that's Korea and its vast could be no it's not via.

We also have tax incentives put these people.

They keep them from going on while they had.

Have to decide whether working is that is is worthwhile doing it did not going to be able to take can't -- -- Congressman I'll give you the last word and -- nothing more other than thank you for being here and it was great to see you congressman Charlie Rangel was -- and thank you so but I -- -- did.

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