Huffintonpost: Could an increase in the minimum wage put the $5 footlong in jeopardy? Maybe, according to the founder and CEO of Subway.
Fred Deluca, the man behind the sandwich chain, told CNBC that a sharp increase in the minimum wage is “a bad idea.”
These greedy robber baron CEO's say that every time somebody mentions raising the well-below-poverty-level minimum wage. It's going to raise prices, cost jobs, blah, blah, blah. The only thing it's going to do is possibly decrease their short term compensation. Other than that, history has proven time and time again that what it actually does is stimulate demand and consumer spending because people at that wage level have no choice but to spend the extra money. Of course broad wage growth, which we haven't had since Bush/Cheney/Team GOP came into power, can lead to inflation but that's a demand to supply issue and not what this guy is talking about.
No comments:
Post a Comment