Liberals are freaking out after Dunkin’ Donuts CEO explained to a CNN host what he really thinks about the new minimum wage in New York.
The New York State wage board increased it to $15 per hour, which will be fully implemented in New York City by the end of 2018.
Travis’ response is exactly what you and I know. Such an increase is “ABSOLUTELY OUTRAGEOUS!”
Dunkin’ Brand (DNKN) CEO Nigel Travis says the plan will do more harm than good.
Travis said he supports governments making “reasonable increases” to the minimum wage, but a hike to $15 per hour represents a 71% increase over the current state minimum.
“It’s going to affect small businesses and franchises,” Travis said in an interview with CNN’s Poppy Harlow. He said it would prevent his multi-billion dollar company from hiring new people.
“I don’t want to sound threatening about that,” he added, saying it probably wouldn’t force Dunkin’ to lay off workers.
Travis argued that fast food companies are a starting point in the job market, and he said most of the Dunkin’ employees on minimum wage are teenagers that are expected to move on to higher-paying jobs.
via CNN Money
This is an important thing for CEOs to speak out about. While they make far more than minimum wage, they do so because they are worth it.
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Employees at Dunkin’ Donuts and elsewhere are in starter jobs – they are learning valuable skills and are improving themselves. These skills will ensure they don’t earn minimum wage forever, when they become a manager or go to work somewhere else.
In the mean time, minimum wage causes unemployment. Instead of fixing economic problems, it creates more of them… While keeping millions out of the work force.
It’s good to see this CEO has the courage to speak out about what should be taught to every American in Economics 101.
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