{"id":10106,"date":"2014-02-19T19:59:18","date_gmt":"2014-02-19T19:59:18","guid":{"rendered":""},"modified":"2014-02-19T19:59:18","modified_gmt":"2014-02-19T19:59:18","slug":"shark_tank_guy_educates_cnbc_hosts","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2014\/02\/19\/shark_tank_guy_educates_cnbc_hosts\/","title":{"rendered":"Shark Tank Guy Educates CNBC Hosts"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Now, here\u2019s this CNBC stuff. The guest is Kevin O\u2019Leary, who is O\u2019Leary Funds chairman, and he\u2019s cohost, I think, on Shark Tank on ABC. Do you know what that show is? You know what Shark Tank is? I sort of do, but I can\u2019t remember off the top of my head. People go to these entrepreneurs and pitch their ideas, and they have a product that they want to sell, and the sharks basically tell \u2019em, “You\u2019re stupid. That thing doesn\u2019t have a prayer.” That\u2019s why it\u2019s a Shark Tank. These people either buy it or send you packing. Mark Cuban is one of the sharks. It\u2019s a good show, I\u2019m hearing.<\/p>\n

Anyway, one of the cohosts was on CNBC explaining the minimum wage<\/a> to \u2019em. They don\u2019t get it and they\u2019re a business network. Andrew Ross Sorkin is a cohost of this particular show at Squawk Box, he said, “You called it and you said it. We had you on maybe three weeks ago. We were talking about the minimum wage, and you said that raising the minimum wage does not mean more jobs, it means less. So, given the CBO report, do you have any quick views on the minimum wage debate?”<\/p>\n

<\/p>\n

O\u2019LEARY: It\u2019s evidence positive, Andrew. That\u2019s the whole point. You know, I keep saying that the litmus test for America is not large corporations. It\u2019s the six-million-plus businesses out there that want to create more jobs every day and fight all kinds of problems. I\u2019ve never been an advocate for any minimum wage. I\u2019ve always felt that at the end of the day, the market would determine a person\u2019s value per hour.<\/p>\n

RUSH: Oh, no, we can\u2019t have that, because the market isn\u2019t fair. The market pays people differently. The market pays some people more, and that\u2019s not fair and equitable. That isn\u2019t equality. The market\u2019s a bunch of cheats. But here\u2019s a guy: if you leave it up to the market, people are going to earn what they\u2019re worth. That\u2019s why I always laugh when people start saying, anybody, actor, athlete, anybody. “Nobody\u2019s worth that.” Well, they are to the person paying \u2019em. You are worth what somebody will pay you, and that is up to you. <\/p>\n

Now, if you\u2019re gonna turn over what you make to somebody like Barack Obama, you\u2019re gonna be stuck at seven to 10 bucks an hour max. And then you\u2019re gonna have to hear the Democrats talk about how fair they are, how much they care about you. But people have to lose their jobs in order for others to get that raise. It\u2019s simple mathematics. I don\u2019t know why this is so hard for people to understand. It isn\u2019t, if it\u2019s explained properly. The problem is that most people think that there is no such thing as a small business. They think they\u2019re all big and they think that the people that own those businesses are all rich. And they think that the people that own those businesses, because they\u2019re all rich, all have a stash of money over here they\u2019re not using. They\u2019re saving it for themselves because they\u2019re greedy. <\/p>\n

So it takes somebody who cares like Obama to come along and separate those rich guys from their money and give it to the workers, and that\u2019s the only way that the boss is ever gonna be made to be fair, is if somebody like Obama comes in and does it. What people don\u2019t understand is the fragility of most small businesses. They\u2019re fragile. They are not owned by rich people universally and they do not have a stash of money not being used. If they have a stash of money, it\u2019s allocated for something. They\u2019re saving it for expansion or whatever, but there is no stash unused. The owner of the small business pays himself last, not first. <\/p>\n

But most people don\u2019t know that, and this is because of what they\u2019re taught. It\u2019s the institutional bias against capitalism that\u2019s part of the Democrat Party. People from a young age are taught that everybody in small business and Big Business is a bunch of crooks and they\u2019re the rich, and they don\u2019t share, and they don\u2019t pay people fairly, and all of that. So when they don\u2019t understand that, or when they believe that and you come along and say, “The minimum wage is gonna lose jobs,” they don\u2019t understand.<\/p>\n

“How can giving people a raises from $7 to $10 cause \u2019em to lose jobs, Rush? It just doesn\u2019t make any sense.”<\/p>\n

People that have no idea, that do not have a proper foundational understanding of this, you\u2019ll never convince \u2019em. But it stands to reason. Company A allocates 50% of its operating budget to labor. (I\u2019m just picking a number.) That\u2019s it. It\u2019s not 55% one day and 44% the next day. It\u2019s 50%. It\u2019s budgeted. They\u2019ve got 50% to pay labor. So here comes Obama raising the cost of labor arbitrarily. <\/line><\/p>\n

If a guy has 10 people making 50% of his budget, and the budget is arbitrarily raised, he\u2019s not changing income. He\u2019s not gonna raise what he\u2019s paying labor. He can\u2019t and stay in business. So somebody has to get fired with this arbitrary raise thrown in. It\u2019s just the way it works, because businesses do not change their labor costs day to day, hour to hour, month to month. They budget these things as much as they can in advance \u2019cause it\u2019s the highest cost of doing business, usually. <\/p>\n

So if there\u2019s an outside force like the Regime that comes in and says, “You\u2019re paying every one of these people more…” In this example, all these people are making minimum. They aren\u2019t, but let\u2019s just say they are. It\u2019s seven bucks, and everybody working for seven bucks an hour equals 50% of the company\u2019s budget, and here comes Obama saying, “You gotta pay \u2019em 10 bucks.” Well, the amount of money they\u2019re gonna spend on labor isn\u2019t gonna change. <\/p>\n

They\u2019re gonna have to get by with fewer people working if they\u2019re gotta give arbitrary increases, and that\u2019s how people lose their jobs when the minimum wage goes up. Here\u2019s the second sound bite. Kevin O\u2019Leary is then asked by Andrew Ross Sorkin, “What do you think would have happened if we\u2019d had no minimum wage? What kind of wages do you think we\u2019d have today — and more importantly, what kind of economy do you think we\u2019d have?” <\/p>\n

O\u2019LEARY: I think we\u2019d have a very vibrant economy based on demand. In other words, people would go seek… Think about if you never had a minimum wage. People would go seek the highest opportunity, the lowest risk all the time. Companies would do the same thing. Let the market determine what labor should be, and we\u2019d have a much more vibrant economy.<\/p>\n

RUSH: I\u2019m just gonna tell you right now that your average low-information voter is not gonna understand that at all, sadly. Mr. Shark Tank here is exactly right, though. All he\u2019s saying when he says, “Let the market determine what labor should be,” that means in a competitive market where a business owner has work to be done — and it needs to be done, and he wants it done as well as it can be done — he is going to find the best person he can. <\/p>\n

The person who shows the most ambition, shows up on time, is gonna be more valuable. It\u2019s just that simple! It\u2019s competition. It brings out the best in everybody. “Some people don\u2019t want to compete. It\u2019s not fair because some people end up with more than others. It\u2019s not equitable, it\u2019s not equality, blah, blah, blah.” (snaps fingers) So here comes Obama to level the playing field, and always doing it by focusing on the lowest common denominator.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: I\u2019m being told here that Kevin O\u2019Leary is the most hated shark, \u2019cause he has no emotion. He\u2019s a total numbers guy. He doesn\u2019t care, just like the market. He\u2019s the Simon Cowell, or Cowell…? How does he pronounce it? Cowell? Cowell? Some of you would know. He\u2019s the Simon Cowell of the show. I\u2019ve never seen American Idol, and I\u2019ve not seen Shark Tank. You know, I watch other stuff. True Detective, Game of Thrones. I don\u2019t watch… (interruption) The Bachelor? I don\u2019t watch that. (interruption) I don\u2019t watch The Bachelorette. What are you talk about? I don\u2019t watch that. No way. I may check out Shark Tank. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: All right, look, look, look. I watched — I don\u2019t know which one it was — Bachelor or Bachelorette for one or two episodes. After that, I feared for my IQ, so I didn\u2019t watch anymore. I don\u2019t watch the show. You people have great memories. Yeah, I saw an episode five years ago or whatever it was, but that\u2019s it. <\/p>\n","protected":false},"excerpt":{"rendered":"

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