This week on Fox Business, I spoke with Closing Bell’s Liz Claman about business growth and minimum wage. During the segment, I stated that there would be less opposition to a modest increase in the minimum wage over time. However, the Administration is proposing an immediate 40% increase in the minimum wage and the unions want a 100% increase. Artificially driving wages up 40% immediately would require business to raise prices for consumers and reduce employment opportunities for those most in need of jobs. A better solution for our U.S. economy is a gradual increase in minimum wage that businesses could rationally absorb. To view the entire Closing Bell segment, click here.