Fox Business Network host Stuart Varney is a millionaire, but according to him, restaurant workers won’t need any tips if the minimum wage is raised to $15 an hour.
“If I walk into a restaurant, and I know that the waiter or waitress is making $15 an hour, way more than they used to make the previous year, I’m going to think, ‘wait a minute, am I going to give you 20 percent, 15 percent, 10 percent or whatever?’ ” the millionaire TV host asked.
Varney made his point while discussing the possibilities of an increase in minimum wage with Apple-Metro CEO Zane Tankel. But Tankel didn’t entirely agree, saying he hadn’t seen any data suggesting that higher salaries would result in smaller tips, but that it could be a possibility.
Varney also warned that raising the minimum wage would force employers to cut low-paying jobs. “I think this is a tragedy because all those entry-level positions are going because some people now get $15 an hour,” Varney said.
Tankel agreed “100 percent” on this, and added that wage increases are “all done under the guise of helping the working man” but hurt those who lost their jobs because of the increase.
Raising the minimum wage is bound to be a significant topic in upcoming elections. The GOP’s entire defense for their tax cut for the wealthy was the old “trickle down” economics lie. The idea is that if the wealthy have more money, that money will eventually go to their workers. It never works, but now that these companies and CEOs have a lot of extra money thanks to Trump and the Republicans, they have no excuse not to increase wages, according to the trickle-down economic principal. If these companies don’t start increasing wages (not just giving one time, minor bonuses) and/or hiring more people, voters will quickly realize that the Republicans duped them. Again.
In the meantime, tip your waiters. Regardless of how much they make.
And Varney—maybe you should avoid restaurants from now on. After telling them you won’t tip them, they will spit in your food.