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Christian Dorsey of the Economic Policy Institute and Marlin Steel president Drew Greenblatt on how raising the minimum wage to $9 per hour will impac...
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AB all right well why wait for that small business story because employees are cheering the president's plans.
Raise minimum wage to nine dollars an hour but what Obama actually hurt small business.
-- -- -- Endorsing an Economic Policy Institute -- front of the show and also drew Greenblatt president of marlin steel and Donna banks about the good Christian.
I'm gonna go ahead and say that you applauded the president's.
As soon enough it got comments in the sitting in his speech I think -- -- nine bucks an hour but Christian.
Forty years ago he said he was gonna take it up to 915 that never happened why why do you why the change don't -- Well you know throw you do know me well and yes I do applaud the president's move and you know what he's proposing is really -- of very modest increase in line with our are still struggling.
Economy but let's let's not lose sight of the fact that the minimum wage right now is lower than it was in the 1960s.
In the meantime productivity is soared.
So you -- tell us -- minimum wage employers that you could have employees were twice as productive at a lower -- in the 1960s.
Surely they would take that deal wouldn't think.
Ever admit that the same time -- -- -- take a syndrome because many small business owners are saying look.
We're trying to keep our businesses that fifty employees and less that threshold because health care.
But now you're telling me about employees -- they do have also gonna have to pay more is at least at a federal level doesn't that make the small business owner.
More -- and less willing excuse me to hire.
Hi this is -- for marlin -- yes and I believe that if you raise the minimum wage.
What's gonna happen is.
You're raising the cost for the owners of companies.
And they're gonna have a tough choice what -- why do they're gonna say you know what I'm gonna need less of these people right now 24%.
Of teenagers are unemployed.
That's an outrageously high number in the minority section of unemployment it's 38 or 39%.
So what's gonna happen is -- to make these people even less marketable.
So companies are gonna say you know what we're gonna take a pass we're not gonna hire people.
So the unemployment rates gonna go from 24%.
To a higher number for these people and we want those people in their first job we want them learning skills we want the moving up the chain.
So that they can get raises and they can grow and they can learn about her.
I don't function in our society we don't want them -- Ole Christian.
But he -- -- presume is that employers just carrying employees out of the goodness of their heart and they don't do that they carry employees to produce a certain level that leads to efficiencies and profits and right now.
Those employers are.
As as lean as they can possibly be when it comes to their labour force -- increasing the minimum wage is not going to result in job loss what it will result in.
Is much more money.
Being spent in the economy and less taxpayer money being -- don't -- being spent on social services to support people were living in deep poverty.
But you're are you as -- -- -- everybody if you pay somebody 725 an hour.
And you're forced to pay them nine bucks an hour in some cases not all in some cases.
Owners of companies will say not interested I'm not gonna do it.
And they won't hire more people where they won't go -- but they'll have less people in their organization.
My company we pay three times the minimum wage but there's many industries like the restaurant industry and forming except truck were minimum wages common.
And what's gonna happen is these entities are gonna say you know what we're gonna just use less bus boys.
And this is really good or hurt unemployment of unemployed -- teenagers and particularly minorities.
This is a very bad thing for poor people.
Underemployed.
Of the nation Krista Garcia drew them but gentlemen thanks so about the view -- I'd love -- -- -- this discussion Saturday thanks guys.
