Asserted the conservative Republican businessman, yesterday on Neil Cavuto's show. From Mediaite: "Cavuto began by showing data that demonstrates a correlation between
high minimum wage and high unemployment in certain states. He then asked
Herman Cain, who as former CEO of Godfather’s [P]izza has some experience
with low-wage workers, what business owners around the country are
going to do if Obama’s wage increase goes into effect. 'Well, they’re either going to have people work less hours or they’re
going to hire less people. That’s typically what happens,' Cain said,
when minimum wage goes up. 'Here’s where the president is dead wrong,'
he continued, arguing that raising the minimum wage from $7.25 to $9 is 'not going to get anybody out of poverty.' Cain added that if business
owners keep their employees on, the extra cost will just get 'passed on
to the consumer.'"
More: "Looking back at his Godfather’s experience, Cain said that he would
occasionally raise the salaries of his employees above the mandated
minimum wage 'because of a shortage of workers. So allow the marketplace
to do its thing. This illustrates his advisers’ total lack of business
literacy.'"
Herman Cain: "President Obama's Minimum Wage Increase Is Dead Wrong. It Shows His Business Illiteracy"
