Sanders’ proposals will kill economic growth: Andy Puzder

Channel: Fox Business
Published: 12 hours ago

Description
Former CKE Restaurants CEO Andy Puzder on Sen. Bernie Sanders' (I-Vt.) fight against Walmart. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capi...



Transcript
For more i'm going to bring in former cke restaurants, ceo and officer the book to capitalist come back the trump boom in the left plot to stop it and the puzzler and the you know about running these kind of businesses better than anyone else. Walmart. Obviously, a pretty cordial there. What do you make, though, of the idea that they're saying hey congress should intervene on this and and they sho ...
ld take control and perhaps set a higher federal minimum wage? I don't really. It depended upon where congress would set the higher minimum wage at the moment at 725. You can't hire anybody anywhere in the country for 725, so the minimum wage is really irrelevant. Infact. You can hardly hire anybody for $ 10 an hour in any place in the country even economically depressed areas. Walmart walmart, as you noted, is at 11, its competing with employees with amazon its competing with costco its competing with target, even with the banks bank of america. Now says: they're gon na go to $ 20 by 2024. If bernie sanders really wants to see wages go up. If people really want to see wages increase up to it to a market level, that's high enough for people to do all the things that bernie sanders claims they should be.

He should be out there encouraging economic growth. Economic growth is driving wages today, far more effectively than any minimumwage bill. That'S ever been passed by the federal government. You'Ve got not only ten straight months of 3 %, plus nine straight months of 3 %, plus gdp growth, but for people in retail and for people in restaurants and hotels. It'S been 4 % for eight to ten months. So it's we're really seeing the kind of wage growth you'd like to see from economic growth. All these proposals sanders proposals, they're just gon na kill the growth well, but here's the thing, though, and and it helped sanders position a lot when amazon did this right, not only did amazon jump to $ 15 an hour and in a recent letter, jeff bezos uh. Perhaps goading on walmart said: do it betteryet go to $ 16 in this letter? So so you know when your industry rivals says: okay, we can do it. We can go to $ 15. Now you really look like you're just greedy, like you just want all the money and by the way, let's remind people. The first quarter for walmart that was the best first quarter same store sells in nine years, so they can't say the business isn't doing well. Look at walmart's if they want the best employees if they want employees that can really service their customers.

They'Re gon na have to increase their wages. Whether or not the government does anything because, as i said, they're competing with these other companies, these other brandsthat pay a higher wage. Everybody competes for the same employees, whether it's fast food, restaurants or walmart, or costco, or target we're all competing for that same group of employees and walmart is eventually going to have to increase salaries. The problem, the question is: should the government mandate an increase that exceeds what the market is doing and it looks sanders. I think he's wasting his time. I think $ 15. An hour is rapidly becoming superfluous. It will clearly be superfluous by 2024 when the bill. The democrats are proposing would take effect, that's you're gon na be paying $ 15 an hour just if we keep if the economy keeps growing. If we follow president trump's capitalist, free-market policiesthe economy continues to grow, wages will go up without bernie sanders. You know there bernie sanders has a lot of friends. Math isn't one of them andy buzzer! Thank you very much.

Any oppression, charles.


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