Kudlow: Federal minimum wage is "a terrible idea that raises costs for struggling small businesses"

[Miles Archer]

While raising the federal minimum wage has increasingly seen bipartisan support, there’s one place where the idea isn’t popular: The White House. In fact, the Donald Trump’s chief economic adviser would prefer that the nearly century-old policy be scrapped altogether.

“My view is a federal minimum wage is a terrible idea. A terrible idea,” Larry Kudlow, the director of the National Economic Council, said at a Washington Post event on Thursday. He also dismissed the federal minimum wage as “silly,” warning that it raises costs for struggling small businesses.

While Kudlow said he could not speak for the president, Kudlow said that he would advise Trump against cutting a deal with Democrats in the House or Senate to bump up the federal wage level should Democrats take back either chamber. Kudlow also argued against state and local minimum wages, but said that was not up to the federal government. Kudlow did say he applauded private sector efforts, namely from Amazon, to raise its minimum wage to $15, which goes into effect today, but said he believed the raise was a “private decision.”

“I don’t think people working and succeeding is inflationary,” said Kudlow, who said that the economy is currently rebounding thanks to the tax cuts that Republicans passed last year. But Kudlow has struggled in the past to land his economic predictions. He denied that the country was entering a recession in 2007. The National Economic Council would later determine that the Great Recession started the same month Kudlow made that statement.

https://www.motherjones.com/politics/2018/11/larry-kudlow-white-house-economic-advisor-says-minimum-wage-is-a-terrible-idea/

[Just a Weirdo]

1. You, sir, are a terrible idea that we're about to freeze on Tuesday

Preferably on a 24 month freeze until an new replacement for Trump is elected.

[PatSeg]

2. Same old tired line

that they've been using for decades. Republicans certainly are persistent, but they definitely lack imagination.

[TexasBushwhacker]

3. If a business can't pay its workers a living wage

then perhaps they should either raise the price of their goods/services or not be in business.

[underpants]

4. Quick google search - employee turnover costs somewhere between 16-33% of salary

depending on the wage/salary and position.
Look even Walmart realized they were bleeding money from the constant turnover of employees. Retail poachers good workers all the time BTW. Walmart figured out keeping able people in house was way better than replacing them.

Huff Post article
https://www.huffingtonpost.com/entry/how-much-does-employee-turnover-really-cost_us_587fbaf9e4b0474ad4874fb7

[pansypoo53219]

5. tax cuts to the rich is stupid. they only buy yachs, normal people shop.

[keithbvadu2]

6. If the economy is so great, why are they struggling?

[flotsam]

7. FDR

“no business which depends for existence on paying less than living wages to its workers has any right to continue in this country."

Got it moron? A living wage-not just some bullshit minimum!