Earlier today, Andy joined Charles Payne to discuss Bernie Sanders’ call on Walmart to raise its minimum wage to $15 per hour. When asked about his thoughts from a former CEO’s perspective, Andy notes that the federal minimum wage is currently irrelevant at $7.25 and wages are going up across multiple companies without a mandate due to economic growth and competition for employees among businesses. “Economic growth is driving wages today far more effectively than any minimum wage bill that’s ever been passed by the government,” argued Andy.
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Andy concluded with the point that ultimately Walmart must increase wages in order to compete with companies like Target, Costco or Amazon regardless of government intervention. “If the economy keeps growing, if we follow President Trump’s capitalist free-market policies…wages will go up without Bernie Sanders.”
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