Fmr. McDonald's USA CEO: Minimum Wage Should Be a State Issue
Ed Rensi, former McDonald’s USA CEO, discusses minimum wage hikes taking effect in several states Friday, and how the move could impact the election.
Former McDonald’s USA CEO Ed Rensi joined the FOX Business Network’s Cavuto: Coast to Coast and argued that minimum wage should not be set by the federal government.
“Minimum wage ought to be a state issue, because regionally people know better what the cost of living increases are like and what’s needed,” Rensi said. “New York-Manhattan minimum wage ought to be higher than Keokuk, Iowa… this is a political issue. It’s not a wage or standard of living issue.”
Rensi also warned that a minimum wage hike would hurt U.S. businesses and employees.
“Significantly increasing to a $15 wage is going to cost companies to increase automation,” he said. “You can already start to see it in hotels that are not doing maid service in the rooms every day. They’re giving you the option about doing it and blaming it on global warming. It’s nonsense. Job loss is coming.”