Multimillionaire Jeb Bush comes out AGAINST a federal minimum wage

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Steve Benen ‏@stevebenen
Jeb Bush becomes the latest Republican WH hopeful to oppose the existence of a federal minimum wage http://on.msnbc.com/1FBsFQY

Jeb Bush makes the case for a $0 federal minimum wage

...as Republican politics moved to the right, a new contingent emerged: GOP lawmakers who believe federal minimum wage should be lowered from $7.25 to $0.

The far-right position is more common among congressional Republicans, but lately we’ve seen a growing number of GOP presidential hopefuls have made the same argument – former Texas Gov. Rick Perry (R) and Sen. Marco Rubio (R-Fla.), for example, have both said they’re comfortable with eliminating the federal minimum wage altogether.

Yesterday in South Carolina, former Florida Gov. Jeb Bush (R) appeared to endorse the same approach.

“We need to leave it to the private sector. I think state minimum wages are fine. The federal government shouldn’t be doing this. This is one of those poll-driven deals. It polls well, I’m sure – I haven’t looked at the polling, but I’m sure on the surface without any conversation, without any digging into it people say, ‘Yea, everybody’s wages should be up.’ And in the case of Wal-Mart they have raised wages because of supply and demand and that’s good.

“But the federal government doing this will make it harder and harder for the first rung of the ladder to be reached, particularly for young people, particularly for people that have less education.”

The likely Republican candidate insisted a higher minimum wage would hurt workers at the bottom of the income scale. “Politically, I’m sure it’s a great soundbite,” Bush concluded. “But from an economic point of view this is not how we need to be successful.”

Taken at face value, Jeb’s comments weren’t just expressing opposition to a minimum-wage increase, such as the one supported by President Obama, congressional Democrats, and most Americans. Rather, Bush seemed to be making an explicit case for eliminating the federal minimum wage altogether.

read: http://www.msnbc.com/rachel-maddow-show/jeb-bush-makes-the-case-0-federal-minimum-wage

watch:

Ezra Klein ‏@ezraklein 2m2 minutes ago
Wall Street's 2014 bonuses were more than the earnings of all full-time minimum wage workers: http://www.vox.com/2015/3/17/8233343/one-chart-that-shows-just-how-ridiculously-huge-wall-street-bonuses …

Jeb Bush was worth more than $1.3 million when he left the Florida governor's mansion in 2007, and since then he's reportedly earned millions more in the private sector in what has been described by journalists and pundits as a "rush to make money." Bush has been paid more than $8 million since leaving office, according to a New York Times analysis in 2014. That includes $3.2 million from serving on the boards of public companies and giving more than 100 speeches for which he was paid at least $50,000 each.
http://uspolitics.about.com/od/Election-2016/fl/Jeb-Bushs-Net-Worth.htm

[deutsey]

1. And the average working Republican will cheer him on

[Brigid]

2. And that's the worst part.

[marym625]

3. K&R!

Which means workers in 9 states would receive less than the current federal minimum

Four states still maintain minimum wage levels below the federal minimum of $7.25 an hour: Arkansas, Georgia, Minnesota and Wyoming. Five other states have not adopted a state minimum: Alabama, Louisiana, Mississippi, South Carolina and Tennessee. And one — New Hampshire — repealed the minimum wage law in 2011 but kept a reference to the federal minimum wage.

If the federal minimum must prevail, what's the point of having a minimum wage below the federal level, or not having a minimum wage at all? The answer, of course, is politics.

http://www.usatoday.com/story/money/personalfinance/2014/05/09/states-lowest-minimum-wages/8870565/

[FSogol]

4. Jeb Bush: Always an Asshole.

[KentuckyWoman]

12. What is Jeb Bush's favorite face cream??

Preparation H

[BlueCaliDem]

5. "And in the case of Wal-Mart they have raised wages because of supply and demand" BULLS**T.

Some WalMarts raised wages because they were SHAMED into doing so, not because of supposed "supply and demand". Give me a break.

[DemocratSinceBirth]

6. Stupid ideologue, great issue for us though./NT

[KamaAina]

7. When was the last time a Bush ever worked for minimum wage?

[jwirr]

8. Justanother rich kid who inherited his money from family and thinks the rest of the world owes him

something.

[bigtree]

9. »

[napkinz]

10. kick

nt

[Danascot]

11. Well yeah

If you had to pay them they wouldn't be serfs anymore now would they?

[Egnever]

13. In a way I agree with him.

I don't think a federal minimum wage is very effective. States vary widely in their cost of living. A $10/hr minimum wage might work ok for people living in some parts of the country and still be poverty in others.

There certainly needs to be a minimum wage of some sort as it is very clear the last thing corporations do is raise worker pay but what works in Little Rock won't work in New York.