Anderson Cooper to Biden: CBO Study Says Raising the Minimum Wage Would Cost 1.4 Million People Their Jobs

RUSH TRANSCRIPT Woodworking company ░░░░░░░░ in Milwaukee welcome You ░░░░░░░░ proposing a 15 minimum ░░░░░░░░ giving the lower cost ░░░░░░░░ living specifically in the ░░░░░░░░ many business owners are ░░░░░░░░ that this will put ░░░░░░░░ out of business forcing ░░░░░░░░ to downsize or cut ░░░░░░░░ How can you instill ░░░░░░░░ in small businesses that ░░░░░░░░ will benefit the midwest ░░░░░░░░ growth Well first of ░░░░░░░░ the south is not ░░░░░░░░ different that be the ░░░░░░░░ in that regard as ░░░░░░░░ but here s the ░░░░░░░░ If you look back ░░░░░░░░ the last 40 years ░░░░░░░░ minimum wage has increased ░░░░░░░░ haven t the end ░░░░░░░░ of net employment hasn ░░░░░░░░ changed The vast majority ░░░░░░░░ the economists and there ░░░░░░░░ studies that show by ░░░░░░░░ the minimum wage to ░░░░░░░░ an hour it could ░░░░░░░░ an impact on a ░░░░░░░░ of businesses but it ░░░░░░░░ be de minimis et ░░░░░░░░ Here s the deal ░░░░░░░░ s about doing it ░░░░░░░░ We re at 7 ░░░░░░░░ an hour No one ░░░░░░░░ work 40 hours a ░░░░░░░░ and live in poverty ░░░░░░░░ one should work 40 ░░░░░░░░ a week and live ░░░░░░░░ poverty Applause But it ░░░░░░░░ totally legitimate for small ░░░░░░░░ owners to be concerned ░░░░░░░░ how that changes For ░░░░░░░░ if it went if ░░░░░░░░ gradually increased it when ░░░░░░░░ indexed it at 7 ░░░░░░░░ if we kept it ░░░░░░░░ to inflation people would ░░░░░░░░ making 20 bucks an ░░░░░░░░ right now That s ░░░░░░░░ it would be The ░░░░░░░░ budget office says a ░░░░░░░░ minimum wage would lift ░░░░░░░░ 000 people out of ░░░░░░░░ but cost 1 4 ░░░░░░░░ people about their jobs ░░░░░░░░ you read that whole ░░░░░░░░ about pinocchio there are ░░░░░░░░ equal number of studies ░░░░░░░░ say it wouldn t ░░░░░░░░ that effect And particularly ░░░░░░░░ terms of how gradually ░░░░░░░░ do it Let s ░░░░░░░░ you said you re ░░░░░░░░ to increase the minimum ░░░░░░░░ from 7 25 an ░░░░░░░░ between now and the ░░░░░░░░ 2025 to 12 an ░░░░░░░░ to 13 an hour ░░░░░░░░ double someone s pay ░░░░░░░░ the impact on business ░░░░░░░░ be absolutely de minimis ░░░░░░░░ it would grow the ░░░░░░░░ and it would generate ░░░░░░░░ growth But it s ░░░░░░░░ illegitimate as a small ░░░░░░░░ person to worry about ░░░░░░░░ or not increasing it ░░░░░░░░ one fell swoop would ░░░░░░░░ that impact I do ░░░░░░░░ a 15 minimum wage ░░░░░░░░ think there is equally ░░░░░░░░ much if not more ░░░░░░░░ to dictate that it ░░░░░░░░ grow the economy and ░░░░░░░░ run and medium run ░░░░░░░░ small businesses as well ░░░░░░░░ large businesses and it ░░░░░░░░ not have such a ░░░░░░░░ effect but that s ░░░░░░░░ debatable issue This is ░░░░░░░░ a Democrat from