A brief Fox Business panel led by host Stuart Varney used recent minimum wage legislation in California and New York as an excuse to push a series of myths about the supposed negative consequences of raising the minimum wage to $15 per hour.
On the April 5 edition of Fox Business' Varney & Co., host Varney continued his misinformation campaign against proposals to raise the minimum wage to $15 per hour with guests Elizabeth MacDonald, Michael Murphy, and Todd Horwitz falsely claiming the increase will hurt small business, lead to low-wage job losses, and result in “robots” replacing human workers:
Varney led a panel making similarly misleading remarks on the March 28 edition of Varney & Co., during which professional stock trader Keith Fitz-Gerald claimed the proposal to raise California's minimum wage to $15 per hour by 2023 “goes against every law of capitalism,” and Fox Business correspondent Ashley Webster falsely claimed the proposal “puts the smaller businesses out of business.”
Right-wing media have repeatedly pushed the myth that businesses are opposed to raising the minimum wage while spreading debunked claims that raising the minimum wage leads to job losses. Contrary to Fox Business' claims that business oppose raising the minimum wage, The Washington Post reported on April 4 that a leaked poll conducted by Republican pollster Frank Luntz found “80 percent of respondents [business executives] said they supported raising their state's minimum wage, while only eight percent opposed it.” The advocacy organization Small Business Majority found that 60 percent of small-business owners supported raising the minimum wage to at least $12 per hour.
Economists have repeatedly debunked the claim that raising the minimum wage would kill jobs and the myth that it will lead to greater workforce automation and robots taking jobs away from workers. Researchers at Cornell University found that raising the regular and tipped minimum wages for workers in the restaurant and hospitality industries has “not had large or reliable effects” on the number of people working in the industry and concluded that business groups opposed to wage increases should just embrace “reasonable increases.”