Dec 10, 2013|
Garland talks with billionaire software developer Ron Unz about the inequality between the rich and the poor in America and whether we should raise the minimum wage.
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Automatically Generated Transcript (may not be 100% accurate)
The thing to -- there is it's probably grumble a lot of stuff in the staying bold. And it kind of -- is saying will be talking about what differences and stinging criticism of capitalism. We're gonna talk about the on equal myths that Evelyn Lieberman on the the big businesses in this country are concerned about -- two and new report from major. Al -- Corporations. Talking about their real concern between haves and the have nots and a couple of -- of media. The said the same thing. Several horrible kind of mixes them but primarily urban talk about the debate over. Minimum wage congress last raised the minimum wage of prime breeding for a -- In 2000. Seven. And live supporters of her mimic minimum where its neighbors and living booze consumption. Detractors. Simply say. At least companies are -- workers and killed job revision. -- all that we're brought along with this so those sold in dollars software -- old bruise leading efforts raised Californian to. Twelve dollars per hour in their minimum went wrong book from the -- appreciated the call. Governor Joseph and Tommy took her through -- that is some -- -- -- -- it obviously. -- equities market. How about the the big a concern that. They do this votes company was higher your workers and and -- -- Kill logged off its. Well I think it's overblown the vast majority of lower wage workers in the United States. -- in the non tradable services sector that means. What they're involved in is not the sort of job that can be. Subject to foreign manufacturing competition and you can't -- and MacDonald's work over the China. And also it's the sort of personal involvement shop it's very difficult and expensive to ultimate. So I think in the overwhelming majority of cases look what happened is that the businesses involved with simply raise their prices by a small amount. The workers would earn much more money and the result will be a boost in the economy just to give me one example. Wal-Mart America's largest low wage imported hundreds of thousands of Wal-Mart workers. Earned an average of less than nine dollars an hour. Wal-Mart released settle the incomes the wages of all the workers to minimum of twelve dollars an hour. Wal-Mart could pay for the whole thing raising their prices one time by 1%. It would cost the average Wal-Mart -- extra twelve dollars and fifty cents per year. And it would enormously improve the lives of all those hundreds of thousands or more workers. Businesses from -- Bureau of Labor Statistics and I don't reporters couple weeks ago. Says the Bureau of Labor Statistics has only 5% of all workers or pay he'd asked. Or less than the current minimum wage only 5%. It's. Increasing it will make precious little difference in most people's lives even increased to ten dollars which is what president. And -- -- views have proposed. Would leave apparently you to move that depends on that with less than living way wouldn't -- Well I think there. Actually correct and and that's the reason I think we need to raise the minimum wage to something higher than ten dollars now and I think twelve was so much more reasonable figure. The statistics have looked at national. True that it twelve dollar an -- minimum wage. Would boost the incomes both over 40%. Of poll the wage workers in America. The average gain would be 5000. Dollars per year. And when you're talking about twelve dollars now or you're really talking about lifting families out of poverty. For example if you have a two income couple married couple. Both of whom were working minimum wage shops. They would make 50000. Dollars a year -- 50000 dollars a year doesn't make you rich. But it gives you -- much more secure life been minimum wage workers to better and it. But what's what's the average. And what's -- minimum wage save for a fast food workers in California today. Call it it's basically it will kill forty ready as a minimum wage eight dollars an hour so it's a little bit above the national average. The figures such as seen through the nationally at the -- and Tripoli the nine dollar range general at the 285950. Dude you have what -- boredom try and figure out -- per month -- per year. You know if somebody goes from eight to twelve Laker proposing. How much money would that put in their pockets after taxes to us. I mean basically it would raise their incomes split 50%. And a 50% rise in incomes is pretty substantial. It would be it if you talk with somebody going from these 212. It would be a bottle in extra. 8000 dollars a year pretax now after tax it would be lost them. And they also lose a few social welfare benefits. The person's -- income goes up by 8000 dollars a year. Even if some of that is taken back by the government that some very nice rise in somebody's standard -- All right if you're hole with a salutes -- -- get a couple callers to six year old won he'd celebrity. -- for you and -- in the country took six audited balance you rumor it's -- Texas it's W it's. Bigger issue. Countries talking about it and most of the poll that I broke landslide. Showed that the put a large majority of Americans or for raising the minimum wage. And even -- -- large percentage of Republicans. Come right back bill bigger celebrity -- -- five Korea in looping turn -- thinking about re using minimal wage of lucky enough to abroad and on its. So controller software developer who's. Leading and Purdue in California raised via. Minimum wages to about twelve dollars per hour -- -- -- -- call. Eight year old withdrawn and so I appreciated. Thank you caller I think they're they're raising wages excellent idea but I sector should be -- provisions. All their electoral workers fault they ordered age eighteen summer drop by saying. Because adults think they're bad people hired him you know that your twelve dollar and the other saying that all out. -- it would have been some credit consideration war. They're very small business owners maybe shape. There's sisters were under an -- something like I don't think that -- well. Together their bottom line would be more greatly impacted parties there and these large corporations that that a lot of -- wage workers. All these other single topic we ought to do. There's -- make sure that. A lot of these jobs which today in the state -- pie. Re arranging for corporate tax structure so that it would be less their -- war these corporations to group -- be -- -- Portuguese. In -- you know -- just yogurt jell O charter or whatever. Column. That and other old subject. That Brian Ross Nolan you -- and introducing Busch from what was your thought. Well on the last point I don't think there's too much risk of that. Because most of the jobs were talking about older childish for example working in restaurants -- working at Wal-Mart working at. -- fast food McDonald's. And those are not helped the can be outsourced overseas I mean there are certainly some jobs that might be lost. And that one's a period that I think would be devastated by much higher wage is the low wage sweatshop industry sector in of people basically. Who are competing on price eats in producing close with workers in Bangladesh. And I just don't think America can compete. And so we close with Bangladeshi workers and keep our society the way it is. But I -- that's about the only -- and where that would have major problems. Regarding your other point Sabato. Lower minimum wage for young workers. Possibly for very small businesses. Don't seem like reasonable ideas which in congress could certainly consider. But I do think what we need to do so that the system would be overwhelming. Majority. Of jobs and workers in -- state. Get a minimum of twelve dollars an hour and one problem with certain -- the very different minimum for small businesses. Gives them the -- the people were there would be so much. More impoverished than everybody else in other words you know I think which they have some concern. For the people sport the small child does well the people who worked for Wal-Mart or McDonald's. And in some ways. So long as the minimum wage goes up every war in the sector. All the competitors all the businesses in the sector could simply raise their prices together. Because the -- faced with the same issues or another which I think small businesses would have less of a problem that some people think. So long as all the big distances that are competing with them. Also have to raise the -- Here is when good things Brett arugula a couple of days when it's talking about the minimum wage when is talking about the inequality problem in this country. Says one thing no one addresses our -- is that regardless of whether the government -- the minimum wage. Our society cannot endlessly coast. With the perception that includes. Wage stagnation. For the men and soaring prosperity for the -- nor. Can the government. Snubbed its legislative fingers and magically produce income someone won't pay for these inquiries and nothing is for. Do you agree and if so boom we're who's gonna pay for its. -- agree entirely with that and in fact some of the statistics are amazing. The average American worker has seen almost no in increase in their income for forty years now. When interest. For ordinary workers have been stagnant or in some cases declining for forty church and society can't keep on going that -- and survive. With regard to who's gonna pay for it's certainly the would be losses involved. For example they can put some of the statistics are -- in that -- could get a minimum wage to twelve dollars now or every Wal-Mart. Worker. Wal-Mart simply raise their prices by 1% one time. And that would cause they have virtual workshop for an extra twelve for thirteen dollars per year. So in other words it's clearer that shoppers would be paying more for the product. But I think you know the average person is getting who's doing well in our society earns a good income can afford an extra twelve dollars a year Wal-Mart. Well on the other and the poor people who would have a hard time getting anything extra. Which -- thousands of dollars more a year from the minimum wage drop -- which -- below and to be a huge increase in cup. And look behind me and nobody would notice an extra ten or fifteen dollars a year. And finally the bottom line news you're not exactly an anti capitalistic and type business Condit guy you've been there and done that have -- But it exactly as sort of the software company and some other software companies have been certainly been involved in the business world bill. Admittedly sort of sector were you know nobody really earns the minimum wage. But from my perspective I think this could be tremendous boon to the American economy because the problem with African -- in the headlines. We're helping the very. Holiday shopping seasons -- for two reasons for that. Just ordinary Americans have been getting more and more impoverished over the last few years we don't have the situation. With the wealthiest 1% in America. Has as much well as the bottom 95%. The next not a stable situation. Ordinary workers have been suffering and we certainly increased the minimum wage by a large amount and put thousands of dollars more. In their paychecks every year they'll spend them and will revive the economy. I'm running out of time but I reserve the right beyond again weakens duels -- -- -- little -- lot -- analog to the debris and the understanding this solution thank you so much real great day. To. Governor a -- big -- celebrity AM will come back.