Minimum Wage: How Much is Too Much?
Minimum wage should be whatever you are willing to do the job for.
Check it out:
Young people who have not been taught things need to hear them again, and even though I might be blue in the face saying things over and over again — some of you might be blue in the face hearing them over and over again — we must understand.
To a lot of people, what I’m going to say next and what I did start to say with Sean is the first time that they’ve heard any of this. The people who say, “Hey, $7.25 is unfair! That’s not fair. They need at least $10, $15. It isn’t fair,” don’t have any idea how the market works. They’re not taught how the market works — and if you don’t like $7.25 an hour, then go work somewhere else. If you’re not qualified to earn more than that, then go get qualified. That’s how things work.
Businesses do not exist like the government does.
Businesses are not entitlements.
Employers are not buying your support or your loyalty. They’re buying your work, and they’re paying what the market says it’s worth, and the market is determined by a lot more than just them. Now, one thing about this: The protestors, and even Sean, who called in, is citing Australia. I don’t know if you’ve noticed this, but they’re all talking and citing Australia. Saying Australia, “Well, the minimum wage in Australia is $15!”
Well, guess what?
That is not the minimum wage for young adults.
You know what the minimum wage for young adults in a McDonald’s is in Australia? It’s $8 an hour. It’s not $15. But anyway, we’re not Australia.