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Labor Substitution News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Detailed text transcripts for TV channel - MSNBC - 20140128:16:35:00

president said. there are one in four private sector workers in this country make less than $10 an hour, so the minimum wage bill that s in congress that would raise the minimum wage to $10.10 an hour would affect 27 million workers positively. i was watching morning joe last week and bill gates was on there and said something pretty interesting how you have to be careful about how much you raise the minimum wage, and here s what he had to say. you have to be a bit careful that if you raise the minimum wage, you re encouraging labor substitution that you re going to go buy machines and automate things or cause jobs to appear outside of that jurisdiction. a lot of the problem there is that those people don t have many hours. it s not the actual wage level. like fast food workers, i mean, a lot of those people are households in poverty. 88% in nonpoverty households,

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