Sunday, April 20, 2014

Macy's CEO Explains Why He's Against Raising The Minimum Wage

San Francisco Chronicle ^ | April 19, 2014 | By Ashley Lutz
Macy's CEO Terry Lundgren believes that raising the minimum wage would result in fewer jobs for Americans. "So if your costs go up by X million by taking an initiative like this, what are companies going to do? It doesn’t mean their sales are going to get better, it just means that you’re going to have to offset that expense and how are you going to offset that expense?" Lundgren asked. "The worst thing that can happen is we end up laying off people." Lundgren said that he thinks that reducing the corporate tax rate could help create more jobs.
(Excerpt) Read more at sfgate.com ...

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