Clinton: Small Businesses Can ‘Adapt’ to $15 Min. Wage

‘We have recovered from the great recession ... I don’t think President Obama gets the credit he deserves for digging us out of that ditch’

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Hillary Clinton says the evidence shows that not only does a higher minimum wage not hurt small businesses, but it in fact helps them.

On Monday Clinton congratulated New York Governor Andrew Cuomo for passing a hike in the state's minimum wage to $15. Later, in an interview on Capital Tonight, a New York political program, reporter Liz Benjamin challenged Clinton over the law's anticipated impact on small New York businesses, especially upstate.

"I really think that based on our past experience with raising the minimum wage, this is a change that people can adapt to, as long as they have time to phase it in," Clinton replied. "And the phase in of the overall minimum wage, combined with the slower phase-in upstate, I do think gives businesses of all sizes a chance to accommodate themselves."

Clinton then argued a higher minimum wage helps small businesses.

"And I do think it's important to see it from the broader economic perspective," she said. "We have an economy that is 70 percent consumption. When most Americans have not had a raise, and when you have millions of Americans who are really mired in a poverty situation despite working full time. Of course that's not good for them. It's also not good for the economy, whether you have a small business or a large one."

Clinton said a higher minimum wage is needed to help the economy recovery from Republican-spawned recession: "We have recovered from the great recession, brought to you by the Republicans. And I don't think President Obama gets the credit he deserves for getting us out of that ditch. But now we've got to grow the economy even more. That means getting more money into people's pockets so they actually patronize small businesses, buy things in their communities, and grow the economy."

Benjamin challenged Clinton again, asking, "But if they don't have a job because the business has downsized their operations due to they cannot afford a $15 minimum wage, that's kind of a vicious cycle, isn't it?"

"Well, as I say, the evidence doesn't support that happening," Clinton replied. "But of course we have to look at it closely. And I know Gov. Cuomo really did analyze this and conclude, as many other outside observers have, that a state like New York -- and like California, where Gov. Brown also signed a $15 minimum wage increase -- can handle it. ... Right now I think the evidence is on the side that state can handle it, and that overall it will be a boost for the whole economy."

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