Bill Gates on minimum wage hike: “I worry about what that does to job creation.”

posted at 12:41 pm on March 17, 2014 by Kevin Glass

Bill Gates, billionaire co-founder of Microsoft and political liberal, appeared at the American Enterprise Institute last week for a wide-ranging discussion with Arthur Brookson the economy, market failure, common core curriculem and other topics. But what he said about the minimum wage should make progressives’ ears perk up.

GATES: When people say we should raise the minimum wage, I think… I know some economists would disagree, but I think boy, I worry about what that does to job creation. The idea that through the Earned Income Tax Credit, you’d end up with a minimum wage that you’d receive – that, I understand better than potentially damping demand in the part of the labor spectrum that I’m most worried about.

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.

This comes on the heels of a letter from 500 economists, including five Nobel laureates, that excoriated Democrats for threatening to raise the minimum wage in this economy. If Democrats were smart, they’d listen. Unfortunately, Bill Gates’ political views only matter when they’re convenient to liberals – and economists are only useful when they agree with Democrats.


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Suck it, Gates. You made your bed, now lay in it!

gryphon202 on March 17, 2014 at 12:43 PM

Embrace the Suck of Obamaworld…Bill….

workingclass artist on March 17, 2014 at 12:48 PM

Yet, the fool promotes it.

Schadenfreude on March 17, 2014 at 12:48 PM

BAYAM!

rogerb on March 17, 2014 at 12:48 PM

If Democrats were smart, they’d listen.

But…but….but Democrats know EVERYTHING!

GarandFan on March 17, 2014 at 12:49 PM

If Democrats were smart, they’d listen.

Why would they do that? To them, they are the one’s with all of the correct answers to everything…

After all, doing the same thing again and again but expecting different results is perfectly logical to them….

Athos on March 17, 2014 at 12:49 PM

Instead of raising the minimum wage we need to reduce immigration, especially illegal immigration. That is the best, most ethical thing we can do to help low income American workers. But Bill Gates is one pushing amnesty, as I understand it, and that means that he does not care about low income American workers, he doesn’t want to help them the right way, stopping illegal immigration, nor does he want to help them the wrong way by raising the minimum wage. Bill Gates is just a POS.

FloatingRock on March 17, 2014 at 12:50 PM

I forget we have lots of new faces. Here’s the joke
 
http://hotair.com/archives/2013/07/29/surprise-big-pot-would-like-states-to-regulate-marijuana/comment-page-1/#comment-7206584
 
You also post “DRINK!” whenever he inevitably mentions him.

rogerb on March 17, 2014 at 12:51 PM

Gates is one of the K-Street corporatists in bed with corrupt politicians deliberately trying to undermine the interests of poor Americans.

FloatingRock on March 17, 2014 at 12:51 PM

What he said:

“I worry about what that does to job creation.”

What he really means:

“I worry about what that does to profit and my stock value.”

BobMbx on March 17, 2014 at 12:52 PM

If Democrats were smart, they’d listen.

Why would they do that? To them, they are the one’s with all of the correct answers to everything…

After all, doing the same thing again and again but expecting different results is perfectly logical to them….

Athos on March 17, 2014 at 12:49 PM

They keep doing the same thing again and again because it hasn’t been done perfectly yet. They keep working on it.

This time for sure, that dead horse will come back to life with just the right beating.

hawkeye54 on March 17, 2014 at 12:52 PM

“I worry about what that does to job creation.”

What he really means:

“I worry about what that does to profit and my stock value.”

BobMbx on March 17, 2014 at 12:52 PM

He also means, “What, I gotta pay more for the staff to take care of my estate?”

hawkeye54 on March 17, 2014 at 12:54 PM

FACT: EACH of the last 3 times that Democrats raised the minimum wage (7/2007, 7/2008, & 7/2009), employment dropped.

Look and see what the Employment-Population Ratio was in January 2007 when Democrats took control of Congress and introduced the Fair Minimum Wage Act of 2007, and compare what it was each time the minimum wage was raised.

That bill was eventually passed as a rider to troop funding (the U.S. Troop Readiness, Veterans’ Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007), and the minimum wage was raised three times in three years, from $5.15 per hour to $7.25 per hour (a more than 40% increase in 3 years).

1) Up $0.70 to $5.85 per hour on 2007-07-24,
2) up $0.70 to $6.55 per hour on 2008-07-24,
3) up $0.70 to $7.25 per hour on 2009-07-24.

And the Employment-Population Ratio dropped from 63.3% in January 2007 to:

62.9% in July 2007,
62.2% in July 2008,
59.3% in July 2009,

and has been
At or BELOW 59.0% for FOUR AND A HALF YEARS (since September 2009).

Raising the minimum wage now would drive employment even lower.

ITguy on March 17, 2014 at 12:54 PM

Says the guy who is pushing for a Federal Monoply to destroy education with Common Core because he thought the States having a monopoly was bad….!?!?!? and the guy who wants open borders for cheap labor, and doesn’t miss a chance to throw the country that made him a billionaire under the bus every chance he gets… You and your wife fit in real nicely with self serving hypocrites in DC

Caseoftheblues on March 17, 2014 at 12:54 PM

Bill must be of those tea partiers. Or a racist.

Philly on March 17, 2014 at 12:54 PM

I think I just heard bayam’s head explode.

Chuck Schick on March 17, 2014 at 12:54 PM

If Democrats were smart, they’d listen.

If Democrats were smart, there wouldn’t be any Democrats.

BobMbx on March 17, 2014 at 12:54 PM

Bill Gates…Legal status for 20 million illegal aliens; GOOD! Takeover of American public education with Common Core; GOOD! Minimum wage hike that will make me have to pay those new legal immigrants more: BAD…Very, very BAD!!!

fight like a girl on March 17, 2014 at 12:57 PM

Gates is always pushing for more H1B visa programmers (even though the are tens of thousands of native American programmers unemployed) because you can never have too many billions.

bw222 on March 17, 2014 at 12:57 PM

Yeesh. Leave it to the AEI to rail against the minimum wage, which would be in the $15 range if it had just kept up with inflation since 1968. I suppose that’s what you get though when you have an economic philosophy like this.

Stoic Patriot on March 17, 2014 at 12:59 PM

Bill must be of those tea partiers. Or a racist.

Philly on March 17, 2014 at 12:54 PM

Amazing how conservative a billionaire can get when government policy threatens to take a bite out of his billions.

hawkeye54 on March 17, 2014 at 1:01 PM

Gates is always pushing for more H1B visa programmers (even though the are tens of thousands of native American programmers unemployed) because you can never have too many billions.

bw222 on March 17, 2014 at 12:57 PM

Yup, he is against minimum wage because he wants to pay less and less.

LoganSix on March 17, 2014 at 1:03 PM

My advice to everybody is to try to phase out compromised MS/NSA software in the coming months and years. I was a MS fan my whole life and even worked there for several years in the 90′s, but in light of Snowden’s revelations I’ve switched to Linux and Open-Source software and have been very happy with it. Even before Snowden I was losing faith in MS when I learned that Gates and/or Microsoft was helping Bloomberg create a fascist total-surveillance system in NYC and corporatize education with Common Core.

FloatingRock on March 17, 2014 at 1:08 PM

How does lying traitor Gates square this with his support of amnesty? Oh, he can’t.

Mr. Arrogant on March 17, 2014 at 1:10 PM

If Democrats were smart, they’d listen.

If Democrats were smart, there wouldn’t be any Democrats.

BobMbx on March 17, 2014 at 12:54 PM

Excellent.

SacredFire on March 17, 2014 at 1:11 PM

Hey Bill, worry no more. It kills job creation. Every reasonable thinking person knows that.

rjoco1 on March 17, 2014 at 1:11 PM

Bill I worry about your support of COMMON CORE.

http://www.breitbart.com/Big-Government/2014/01/25/Common-Core-Where-Nonprofits-Reaped-Millions

Common Core State Standards (CCSS) proponents frequently use the talking point that the standards initiative was “state-led.” A group of governors (National Governors Association Center) and state school officers are often said to have coordinated the standards.
A closer look, however, reveals that several “nonprofit” education companies drove the Common Core initiative while being flooded with millions of dollars from the Bill and Melinda Gates Foundation.

$$$$$$$$$$$$

Interestingly, former Republican presidential candidate and Minnesota Gov. Tim Pawlenty led the NGA, along with former North Carolina Gov. Jim Hunt (D) in June of 2008 when the decision was made that “high, rigorous standards” must be created that are “supported by an aligned and clearly articulated system of curriculum, assessments, teacher preparation and professional development, textbook selection…”

It is also the case that, in 2008, Pawlenty served as vice-chairman of the Achieve board of directors and, in 2009, became the board’s co-chairman. Also in 2009, Achieve received $20.9 million from the Gates Foundation, $2 million from the Carnegie Foundation, and a combined $2.6 million from five member-corporations of the American Legislative Exchange Council (ALEC) – GE, Prudential, Nationwide, Lumina, and State Farm.

Bill and others are getting richer, while our kids get dumber and lose their educated souls to the collective Progressive thought control of the Left.

PappyD61 on March 17, 2014 at 1:17 PM

Apparently Mr. Gates doesn’t want workers to actually relate the money they get paid to the level of their skills or value to their employer. That might lead some to think they deserve a bigger piece of the pie? He’d rather just keep getting “new” entry level people who are so happy being employed at a software giant that they don’t mind being lower paid or shuffled out for the next crop of eager newbies.

Bill G. would rather everyone get what they need and view it as an entitlement funded by the rest of us – not just his share holders.

katiejane on March 17, 2014 at 1:18 PM

He also means, “What, I gotta pay more for the staff to take care of my estate?”

hawkeye54 on March 17, 2014 at 12:54 PM

Did he mention his maids and landscapers?

dentarthurdent on March 17, 2014 at 1:18 PM

I have a question that I cannot answer on my own. I need your help.

Over the weekend, I read a treatice on the Minimum Wage which suggested that the highest gain would be for public sector unions. This is because negotiated pay rates are tied to the Minimum Wage, in whole or in part. If true, then this makes Obama’s Executive action make more sense. He only did this for government work, which is administered, managed or outright worked by a high percentage of public sector union employees. This would complete the triangle of Unions-Democrats-Policy. And you could just follow the money.

Any truth to this?

Bigurn on March 17, 2014 at 1:19 PM

Gates: When people say we should raise the minimum wage, I think… I know some economists would disagree, but I think boy, I worry about what that does to job creation.

This from the guy who supports flooding the high tech job market with low-pay foreign H1Bs. The man speaks with forked tongue and through his actions it’s clear he doesn’t care about American job creation.

Sailfish on March 17, 2014 at 1:21 PM

Gates is a darling of progressives when he talks about raising tax rates on the rich…

Except talking about taxing the favorite loophole of the fabulously wealthy, the Family Trusts. Bring that up and Gates goes all “hummina-hummina’.

slickwillie2001 on March 17, 2014 at 1:28 PM

Off topic:

Gates, while you’re at it, you can shove Common Core up your as$!

mjbrooks3 on March 17, 2014 at 1:37 PM

Common Core Whores List…..

Republican Sonny Perdue

Rod Paige, George W. Bush’s secretary of education;
John Engler, the former Republican governor of Michigan;
Bill Brock, the former Republican senator from Tennessee

and of course THE CHAMBER OF COMMERCE.

http://www.edweek.org/ew/articles/2014/01/29/19chambers_ep.h33.html

Chambers of commerce in a growing number of states are casting themselves in the role of defenders of the common core against increasingly vocal opposition to the new standards from some of their traditional Republican allies.

“It has become such a divisive issue, particularly in Republican circles here in Georgia,” said Matt Shultz, one of the GOP candidates for state superintendent, in a phone interview after speaking at the chamber session. “If we removed the ‘common core’ branding, it would defuse some of the issues.”

The supporters want to re-brand it apparently. Just like they want to do on OBAMACARE. Keep the big government, control but repackage it and THEN SHOVE IT down our throats.

I guess at this point should we assume that EVERY republican supports it?

“We were hearing consistently that Republicans felt the need to roll back common core or face repercussions from the tea party activists in future elections,” he said. The radio campaign was intended to “remind Republicans that we also care about the issue, and … to show that we were capable of applying pressure,” he added.

A bit surprised by the mounting backlash, most chamber supporters seem to think the standards will stand the test of the tea party backlash. But they wish President Barack Obama and his education secretary, Arne Duncan, would stop publicly endorsing it.

“The more the administration talks about common core, the worse it is for the effort,” said Ms. Oldham, who worked for eight years in President George W. Bush’s administration, most recently as acting assistant secretary for postsecondary education while also serving as chief of staff to the undersecretary of education.

Maybe Bill Gates should spend a few more of his millions. He clearly needs to focus.

PappyD61 on March 17, 2014 at 1:39 PM

Off topic:

Gates, while you’re at it, you can shove Common Core up your as$!

mjbrooks3 on March 17, 2014 at 1:37 PM

The Gates Foundation’s Common Core is about as well thought out as Windows 8.

All a corporate scam to get business info / market data on school kids to turn them into future purchasers.

tetriskid on March 17, 2014 at 1:45 PM

Except talking about taxing the favorite loophole of the fabulously wealthy, the Family Trusts. Bring that up and Gates goes all “hummina-hummina’.

slickwillie2001 on March 17, 2014 at 1:28 PM

Ya, funny how that works – billionnaires who get very little of their wealth in the form of wages are very willing to raise income taxes – but talk about taxes like capital gains, interest, dividends, or “accumulated wealth” and such and they get real quiet – or outraged. Gates, Buffet, and the rest of the leftist billionnaires club never talk about raising taxes that would actually impact themselves.

dentarthurdent on March 17, 2014 at 1:46 PM

Heh, my 17 year old son was all excited when he heard that he might be able to make $10 per hour at whatever job he gets…..he was already calculating 40×10 = $400 Oh boy!!! He thought…..

I explained that:
A. Because of ObamaCare, most minimum wage job holders will get 29.5 hours – max 29.5 x 10 = $295
B. I said they will still withhold some money for taxes.
C. You won’t get benefits so you would have to pay for your own health insurance.
D. The more experienced people will now dip into the minimum wage workforce. Meaning, McDonalds would rather hire a 28 year old college graduate at $10 p/h then a senior in High School, because now they can…..actually they will hire 2 college grads at $10 p/h, 29.5 hours per week, vs. the high school dude at 40 with benefits.

This piggybacks on Obama’s plan to pay those “managers” overtime…..

All these government interventions will do is increase unemployment and slow growth….
These have been the goals of the progressives anyway, now Obama is doing it and will blame
Republicans when the economy slides into recession/depression……

redguy on March 17, 2014 at 1:48 PM

BAYAM!

rogerb on March 17, 2014 at 12:48 PM

…the picture alone…should bring the braying little dick out!

KOOLAID2 on March 17, 2014 at 1:52 PM

BILL GATES
A really, really smart mostly useful idiot.

Marcola on March 17, 2014 at 1:54 PM

Yet, the fool promotes it.

Schadenfreude on March 17, 2014 at 12:48 PM

Hey, you’re back! I thought you got banned last week?

UltimateBob on March 17, 2014 at 2:03 PM

Oh, and
 

Never enough money to pay the workers. Always enough money to buy a garage with an elevator.
 
urban elitist on November 16, 2013 at 7:12 PM

rogerb on March 17, 2014 at 2:03 PM

He knows what it’s like to calculate the cost of adding a new worker and how much it will take to compensate them.

So rather than making the business man pay his employees what they truly deserve, this Kevin guy along with his out of touch HA readers want other tax payers to foot the bill via EIC? Where are all these big government tea partiers coming from??

i_am_liberal on March 17, 2014 at 2:04 PM

How about creating a job for a barber, Bill? You clearly need one.
Or maybe a comb. Grow up, for Gods sake.

orangemtl on March 17, 2014 at 2:06 PM

BILL GATES
A really, really smart mostly useful idiot.

Marcola on March 17, 2014 at 1:54 PM

Very appropriate line from I, Robot – directed at Mr. Bill – “You are the “dumbest” smart person, I have ever met in my life!”

dentarthurdent on March 17, 2014 at 2:06 PM

So rather than making the business man pay his employees what they truly deserve, this Kevin guy along with his out of touch HA readers want other tax payers to foot the bill via EIC? Where are all these big government tea partiers coming from??

i_am_liberal on March 17, 2014 at 2:04 PM

No, we should eliminate the EIC as well.

But, how about you define for us what amount “employees truly deserve”.

dentarthurdent on March 17, 2014 at 2:09 PM

While he and wife work to limit people creation.

Ward Cleaver on March 17, 2014 at 2:11 PM

No, we should eliminate the EIC as well.

But, how about you define for us what amount “employees truly deserve”.

dentarthurdent on March 17, 2014 at 2:09 PM

At least $50/hour.

/

Ward Cleaver on March 17, 2014 at 2:12 PM

And yes, the earned income tax credit is a scam.

Ward Cleaver on March 17, 2014 at 2:13 PM

Shut up and pay your taxes. Paper boys need a living wage.

Ronnie on March 17, 2014 at 2:13 PM

At least $50/hour.
/
Ward Cleaver on March 17, 2014 at 2:12 PM

Cheapskate!!
I think we should go for $100 an hour – make everyone rich and totally, like TOTALLY, eliminate poverty…..

dentarthurdent on March 17, 2014 at 2:14 PM

At least $50/hour.
/
Ward Cleaver on March 17, 2014 at 2:12 PM

Buuuut, even at $50 and hour, my company would be forced to give me another raise.
Of course the down side of that is that after 30 years in the defense industry with an engineering dgree, I’d be back to minimum wage again.

dentarthurdent on March 17, 2014 at 2:17 PM

i_am_liberal on March 17, 2014 at 2:04 PM

 
Hey, good to see you again. We were all worried about you when you abandoned your gun thread debate point so suddenly. We thought something bad must’ve happened.
 
Good to know you just climbed out of the pool when your floaties didn’t work in the deep water, though.
 
Welcome to hotair, btw.

rogerb on March 17, 2014 at 2:26 PM

When was the last time he combed his hair, DOS 5.0?

Oil Can on March 17, 2014 at 2:27 PM

i_am_liberal on March 17, 2014 at 2:04 PM
rogerb on March 17, 2014 at 2:26 PM

It would appear to be just a typical OFA (or HA sock puppet) troll – one comment and run.

dentarthurdent on March 17, 2014 at 2:29 PM

When was the last time he combed his hair, DOS 5.0?

Oil Can on March 17, 2014 at 2:27 PM

Now THAT made me LOL.

UltimateBob on March 17, 2014 at 2:30 PM

Obama is losing the tech Class. Zuckerberg last week, and now Gates.

eski502 on March 17, 2014 at 2:36 PM

If you find someone who does not believe raising the minimum wage will reduce employment, point them at this article based on the “five-minute economics lesson” I used on my lib sister-in-law, who promptly asked her husband (my brother) to refute it. He was unable to do so. They still think raising the minimum wage is compassionate, however. Their emotional attachment to their social tribe is too powerful.

Have the disbelievers read that article and ask them exactly where I got it wrong, just as my sister-in-law did. Since no economist disagrees with the laws of supply and demand, the only real bone of contention is the exact elasticities of supply and demand for various low-skill work, which would determine how much raising the minimum wage would decrease employment and how much would go into higher prices that in turn raise the cost of living and erode the value of wages.

The Monster on March 17, 2014 at 2:39 PM

People like Gates like higher taxes on the rich because they damage up and coming threats to their model (much like Amazon caving to online sales taxes once they were cemented as the dominate web-store). Gates and Microsoft can survive higher taxes while their opponents can’t – then they have a net gain when they reel in the clients of their sinking competition.

The minimum wage, though, hurts everyone more equally. Less employees because of higher wages hurts anyones production.

eski502 on March 17, 2014 at 2:40 PM

i_am_liberal on March 17, 2014 at 2:04 PM

 
rogerb on March 17, 2014 at 2:26 PM

 
It would appear to be just a typical OFA (or HA sock puppet) troll – one comment and run.
 
dentarthurdent on March 17, 2014 at 2:29 PM

 
The most comical part is realizing how incapable one has to be to get forced into abandoning a thread populated by unenlightened binary dumb racist homophobic gun nut religious clinging far right conservatives.
 
Why isn’t it easier, i_am_liberal?

rogerb on March 17, 2014 at 2:41 PM

As I understand it, there are some union wages that use the minimum wage as a peg for the calculations of the union members’ hourly wage scale. In this case everybody in the union, even those making $50+ an hour may get an automatic raise. Even if there is no direct tie, a higher minimum wage provides a powerful negotiating point to raise wages for union workers in the next collective bargaining contract.

This debate is not simply an issue about the worker ‘trying to make ends meet’. There are workers making six figure incomes who will get a wage hike out of this if it happens. Like union wages in general, it will happen for the individual worker whether the job or that person’s their work is worthy of an increase or not.

In general, if the cost of the job to a business is not helping bring in revenue greater than or equal to the cost, then the job will be eliminated whenever that can be accomplished. This rule applies to all workers, blue or white collar, whether making minimum wage, or making $200k+ a year.

The exception to this rule is government employees (or if the boss is your dad or mom). The general rule there is that the job will be retained and regular raises provided, regardless of the value the job provides, at least until until the next revolution for governments (or the parent sells the business to somebody who is not your dad or mom).

s1im on March 17, 2014 at 2:42 PM

Turkey.

paul1149 on March 17, 2014 at 2:46 PM

At least $50/hour.
/
Ward Cleaver on March 17, 2014 at 2:12 PM

$10.10 an hour is a fair starting wage.

i_am_liberal on March 17, 2014 at 2:47 PM

GATES: When people say we should raise the minimum wage, I think… I know some economists would disagree, but I think boy, I worry about what that does to job creation.

Same guy:

“The right goal is not to cut our carbon emissions in half. The right goal is zero.”
- Bill Gates

Boy, Bill. What would that do to the cost of energy and job creation?

How is this guy a billionaire? He better stick to software and philanthropy. I don’t think he has a future as an economist.

airupthere on March 17, 2014 at 2:49 PM

At least $50/hour.
/
Ward Cleaver on March 17, 2014 at 2:12 PM

 
$10.10 an hour is a fair starting wage.
 
i_am_liberal on March 17, 2014 at 2:47 PM

 
In which part of the country?

rogerb on March 17, 2014 at 2:51 PM

Obama is losing the tech Class. Zuckerberg last week, and now Gates.

eski502 on March 17, 2014 at 2:36 PM

…you think he cares?…about anyone or anything?…use…and dump!

KOOLAID2 on March 17, 2014 at 2:51 PM

rogerb on March 17, 2014 at 2:26 PM

Unlike most here, some of us regular folk don’t spend all day reading and posting on HA. I would have loved to challenge you all on the gun control thread if I saw those comments that day.

i_am_liberal on March 17, 2014 at 2:57 PM

In which part of the country?
rogerb on March 17, 2014 at 2:51 PM

The part of the country where hard working underpaid Americans live. Fair enough?

i_am_liberal on March 17, 2014 at 2:59 PM

$10.10 an hour is a fair starting wage.
i_am_liberal on March 17, 2014 at 2:47 PM

Says who?
How did you determine that is the actual “fair” wage?
Why not $50 or $100 an hour? Wouldn’t those rates be even more fair?

dentarthurdent on March 17, 2014 at 2:59 PM

The part of the country where hard working underpaid Americans live. Fair enough?

i_am_liberal on March 17, 2014 at 2:59 PM

Where is that?
Specify.

dentarthurdent on March 17, 2014 at 2:59 PM

At least $50/hour.
/
Ward Cleaver on March 17, 2014 at 2:12 PM

 
$10.10 an hour is a fair starting wage.
 
i_am_liberal on March 17, 2014 at 2:47 PM

 
In which part of the country?
 
rogerb on March 17, 2014 at 2:51 PM

 
And you mean $10.10/hour in place of any non-cash benefits such as SNAP, CHIP, housing assistance, EITC, etc. that boost families above the poverty line, correct?
 
Or weren’t you counting those as a form of income?

rogerb on March 17, 2014 at 3:01 PM

rogerb on March 17, 2014 at 2:26 PM

 
Unlike most here, some of us regular folk don’t spend all day reading and posting on HA. I would have loved to challenge you all on the gun control thread if I saw those comments that day.
 
i_am_liberal on March 17, 2014 at 2:57 PM

 
“That day” being yesterday. You do realize the threads don’t close, right?
 
It’s even still on the frontpage.

rogerb on March 17, 2014 at 3:03 PM

$10.10 an hour is a fair starting wage.
i_am_liberal on March 17, 2014 at 2:47 PM

Says who?
How did you determine that is the actual “fair” wage?
Why not $50 or $100 an hour? Wouldn’t those rates be even more fair?

dentarthurdent on March 17, 2014 at 2:59 PM

It’s funny because no lefty says fair for what? If you’re not doing something useful that makes the business considerably more than $10.10 an hour, then they just won’t hire you (unless we go full fascist). Lefties have a reality problem.

Fenris on March 17, 2014 at 3:04 PM

$10.10 an hour is a fair starting wage.
 
i_am_liberal on March 17, 2014 at 2:47 PM

 
In which part of the country?
 
rogerb on March 17, 2014 at 2:51 PM

 
The part of the country where hard working underpaid Americans live. Fair enough?
 
i_am_liberal on March 17, 2014 at 2:59 PM

 
So you want a minimum wage worker in Tupelo, MS and one in Hollywood, CA to survive on the same $10.10 wage.
 
You haven’t thought this through at all, have you?

rogerb on March 17, 2014 at 3:07 PM

You haven’t thought this through at all, have you?

rogerb on March 17, 2014 at 3:07 PM

OK roger – now thet thar was funny, I don’t care who ya are!
A liberal “think this through”?
You’re too much.

dentarthurdent on March 17, 2014 at 3:10 PM

Shut up Gates. You have been one of Obamas biggest cheerleaders. Plus your products suck!

neyney on March 17, 2014 at 3:20 PM

And the liberal would appear to have run away again from a couple simple little questions….

dentarthurdent on March 17, 2014 at 3:21 PM

In his defense, he may think the thread is already locked.
 

And you mean $10.10/hour in place of any non-cash benefits such as SNAP, CHIP, housing assistance, EITC, etc. that boost families above the poverty line, correct?
 
Or weren’t you counting those as a form of income?
 
rogerb on March 17, 2014 at 3:01 PM

 
I’m still most interested in this one.

rogerb on March 17, 2014 at 3:22 PM

Shut up Gates. You have been one of Obamas biggest cheerleaders. Plus your products suck!

neyney on March 17, 2014 at 3:20 PM

What? You don’t enjoy the pain of using the Microsoft Dysfunctional Family of Software?
Not much of a masochist are you?

dentarthurdent on March 17, 2014 at 3:23 PM

I’m still most interested in this one.

rogerb on March 17, 2014 at 3:22 PM

I really want to hear which part of the country is full of “hard working underpaid Americans” who need a $10.10 min wage to live on.

dentarthurdent on March 17, 2014 at 3:25 PM

Good to know you just climbed out of the pool when your floaties didn’t work in the deep water, though.
 
rogerb on March 17, 2014 at 2:26 PM

 
Unlike most here, some of us regular folk don’t spend all day reading and posting on HA. I would have loved to challenge you all on the gun control thread if I saw those comments that day.
 
i_am_liberal on March 17, 2014 at 2:57 PM

 
BTW, it’s pretty comical that the link for this thread is actually lower down on Hotair’s homepage than the gun thread you abandoned.

rogerb on March 17, 2014 at 3:45 PM

A consequence which is more widespread than employment is the decrease in disposable income. That affects 100% of minimum wage earners negatively.

anuts on March 17, 2014 at 4:17 PM

It sounds like Gates has stumbled into the truth for once…

But I have found from over 35 years experience dealing with Gates & company that when Gates starts recommending things, the correct response is to hide your wallet (just like any other liberal).

landlines on March 17, 2014 at 6:18 PM

It will put more people on welfare which is what Obama wants!

Obamatrix on March 17, 2014 at 6:21 PM

Another article about this interview previously appeared on Blaze with more quotes. Gates is concerned that increasing the minimum wage will accelarate the growing movement toward replaceing human workers with technology, and I think he is totally correct. The gains in productivity by the American “workers” have been due to mechanization, not people sweeping floors faster. He may be wrong about many things, but he seems to be correct on this matter.

talkingpoints on March 17, 2014 at 6:53 PM

Within 20 years, “software substitution” will dramatically reduce the demand for many types jobs, Bill Gates said Thursday at the American Enterprise Institute. It’s a gloomy prediction that he says many people, including governments, aren’t prepared for.

Make no mistake, “software substitution” is a fancy way of saying software automation — as in “bots” and whatnot. Many of the jobs that could be eliminated are lower skill occupations.

“Software substitution, whether it’s for drivers or waiters or nurses … it’s progressing,” Gates said. “Technology over time will reduce demand for jobs, particularly at the lower end of skill set. … 20 years from now, labor demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model.”

Philanthropist Bill Gates, co-founder of the Bill and Melinda Gates Foundation, speaks about agriculture at the US Capitol in Washington, DC, on March 13, 2014. AFP PHOTO / Jim WATSON

The billionaire also provided some common sense ways to get out ahead of the coming problem.

Firstly, he said, the tax codes need to be updated to encourage companies to hire employees. He suggested possibly doing away with income and payroll taxes entirely.

As he has before, Gates also warned against raising the national minimum wage out of fear that it will prevent employers from hiring new workers. Many of the workers that would be impacted by future “software substitution” would be those making minimum wage, he argued.

“When people say we should raise the minimum wage. I worry about what that does to job creation … potentially damping demand in the part of the labor spectrum that I’m most worried about,” Gates said.

From the Blaze 3/13

talkingpoints on March 17, 2014 at 7:00 PM

i_am_liberal on March 17, 2014 at 2:47 PM

 
And you mean $10.10/hour in place of any non-cash benefits such as SNAP, CHIP, housing assistance, EITC, etc. that boost families above the poverty line, correct?
 
Or weren’t you counting those as a form of income?
 
rogerb on March 17, 2014 at 3:01 PM

 
I’m still most interested in this one.
 
rogerb on March 17, 2014 at 3:22 PM

 
I guess this thread is already locked now, too.
 
Wait, how did I just post that?

rogerb on March 17, 2014 at 7:14 PM

But, but, but … the One” told us that we didn’t create jobs!

kregg on March 18, 2014 at 6:01 AM

Ed, you need to fix your website. I’m still able to post in this thread from yesterday.

rogerb on March 18, 2014 at 7:08 AM

Bill Gates on minimum wage hike: “I worry about what that does to job creation.”

Yeah, this is from the same dolt that laments the flagging implementation of a carbon tax in the US.

TxHotGas on March 18, 2014 at 9:17 AM

Raising the minimum wage works against the big immigration promoters. It makes the immigrants much less valuable.

cimbri on April 4, 2014 at 2:27 PM