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Democrats' minimum wage hikes will kill jobs, small businesses: Former McDonald's USA CEO
Minimum wage increases unworkable from economic standpoint: Ed Rensi
Former McDonald’s USA CEO Ed Rensi argues the 2020 Democratic candidates’ proposed minimum wage increases would be damaging to small businesses and will result in higher prices for consumers. He also discusses decreasing SNAP participation and plant-based fast food trends.
Democratic presidential candidate Tom Steyer's plan to raise the federal minimum wage to $22 per hour is "absurd," former McDonald's USA CEO Ed Rensi warned FOX Business' Dagen McDowell Monday.
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"It will put small businesses out of business; it will be dilatory to job growth in every way possible," Rensi said on "Mornings with Maria."
TOM STEYER VOWS TO RAISE MINIMUM WAGE TO $22 PER HOUR IF ELECTED
Rensi noted small businesses are the biggest ongoing generators of American jobs. Small businesses employ 47.3 percent of the private workforce in the U.S., according to 2019 U.S. Small Business Administration data.