Business Quote by Nick Hanauer
“The person earning the federal minimum wage of $7.25 isn't going out to eat at restaurants. They're not taking piano lessons. They're not going to the gym or the yoga studio. They're not sending mom flowers on Mother's day. What good is this person in the economy? If you raise it to $15 an hour, they're doing all of those things. And all of a sudden, not just business thrives, but small business thrives.”
About This Quote
Source Speech: Economic Forum, 2014
Low wages limit consumer spending, hurting both workers and businesses; higher wages boost demand and benefits for all.
In simple terms: Low pay reduces buying power; higher pay stimulates economy.
Key Takeaway
Raise wages to improve economic health.
Themes
economics
living standards
policy
business
social equity
Mood
concerned
optimistic
Type
policy
economic
social
When to use this quote
- policy debate
- business planning
- community development
- political advocacy
Key Concepts
minimum wage
consumer demand
small business growth
income inequality
labor market
Questions to Reflect On
- How would a $15 minimum wage affect your local businesses?
- What trade‑offs exist between wages and employment?
A Different Perspective
Higher wages may increase labor costs for some firms, potentially reducing hiring.
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