Gates: Don't Raise Minimum Wage
An entrepreneur splits from the Party.
Billionaire Bill Gates – a liberal but an entrepreneur nonetheless with a far better understanding of capitalism than most lawmakers, not to mention our president – spoke with the American Enterprise Institute and warned against elevating the minimum wage. “When people say we should raise the minimum wage … I worry about what that does to job creation,” he said. His critique contradicts most leftist economic talking points. Why? Because unlike the majority of policy makers on Capitol Hill, Gates understands the challenges of operating a business; meanwhile, Barack Obama, a career community organizer, has yet to even run a lemonade stand much less a company that employs hundreds or thousands of workers. And while liberals are quick to cite Gates on most progressive causes, don’t expect them to heed his economic concerns.