. . . Farrokh Hormozi, an economist at Pace University in New York City, said he strongly favors an increase. He said that the argument that it would mostly benefit “rich kids,” teens who drive their parents’ expensive cars to part-time jobs, is flawed, because studies show that 85 percent are 20 years old or older.
“My feeling is that $7.25 is not even going to buy you a hamburger. It’s a shame to pay someone at that rate,” Hormozi said.
In a Washington, D.C., environment filled with discussions on government spending, the cost of helping low-end workers could come into play. Minimum-wage workers are likely to need food stamps or some other form of government assistance, Hormozi said.
Read the article in Press-Enterprise.
Also read an op-ed by Hormozi on The Hill’s Congress Blog.