Bill Gates on minimum wage hike: “I worry about what that does to job creation.” « Hot Air: "Gates is a darling of progressives when he talks about raising tax rates on the rich, but they’re listening to the wrong part of his message. He’s a billionaire, and mostly unconnected from the tax brackets that actually feel the effects of tax hikes. But what he is also is an entrepreneur – unlike a lot of pro-minimum-wage-hike progressives, he actually built a business. He knows what it’s like to calculate the cost of adding a new worker and how much it will take to compensate them. Adding to the marginal cost of hiring a new worker – especially one at the low end of the income scale – would be disastrous for those workers who are marginally attached to the labor force and have fewer skills to fall back on if they’re priced out of the work force."
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