The Forbes on Fox show seized on a questionable study that found Seattle’s minimum-wage hike to $15/hour is “backfiring” as an excuse to call for the abolishing of all minimum wage laws.
The discussion began with a clip of panelist Sabrina Schaeffer, from two years ago, arguing that “regulations” hurt wages.
Host David Asman broke into applause. “You called it,” he said. “How did you know?”
Schaeffer immediately began to argue for getting rid of any minimum wage. “I do know that when you artificially manipulate wages or benefits, it’s going to lead to fewer jobs, less flexibility, and a less good workplace for everybody,” she said.
Panelist Bruce Japsen mildly disagreed. He said, “I’ve seen studies that have gone the other way, but I would like to say to some of these CEO’s who make a lot of money is, generally, if a better wage attracts a better worker, and that’s generally the rule of thumb that I’m abiding by, and maybe some of these companies need a better marketing plan to pay a higher wage.”
Panelist John Tamny took it a step further, saying, “The minimum wage is inexcusable.” He said, “Any kind of artificial wage restrains the ability of people to offer up their services, and that’s shameful.”
Panelist Bill Baldwin piled on, claiming to just be thinking of the poor: “Minimum wages are always bad for a simple reason, they make it illegal for somebody with low skills such as teenagers to work.”
Asman ratcheted up the demonization, suggesting that a minimum wage hike will lead to automation: “Restaurants and other similar industries are switching over to mechanical means, these electronic kiosks and other ways to get out the minimum-wage workers entirely,” he said. “A hike in the minimum wage doesn’t help.”
“I think it accelerates that trend,” agreed panelist Rich Karlgaard.
“It hurts people with the least,” agreed panelist Steve Forbes.
But there are questions about the study’s findings that nobody mentioned. Also not mentioned is how minimum-wage workers are supposed to get by with even less.
Watch it below, from the July 1, 2017 Forbes on Fox.