To watch an in-depth interview I did with Bloomberg host Betty Liu on this critical topic, please click on this link: http://tinyurl.com/j4ebz5u
This morning, I did an interview with Bloomberg host Betty Liu during Bloomberg Markets about the recent Wall Street Journal op-ed I wrote to explain the impact on Walmart’s bottom line of its voluntary base wage increases. During the segment entitled, Making the Case Against a Minimum Wage Hike, we had a very robust discussion about minimum wage increases and how they can ultimately lead to job losses and more automation.
The reality is that more businesses are relying on ordering kiosks, scanners, and apps to mitigate the impact of higher labor costs—someday, maybe even food-cooking robots. With the number of people working or looking for work at lows last seen during the Carter Administration, we shouldn’t use the force of law to make working-class Americans artificially expensive to employ. There’s a better way to help people get ahead: Build a healthy economy that will lead to the creation of jobs at all income levels. You can only do that, of course, if you have the right person in the nation’s corner office.