Greenberg: I support raising minimum wage to $10/hour

C.V. Starr CEO Hank Greenberg weighs in on the minimum-wage debate and the economics of investing outside the U.S vs. inside.

Hank Greenberg: I Support a $10.10 Minimum Wage

By Politics FOXBusiness

Hank Greenberg says he supports giving Americans a raise to $10.10 an hour.

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While many in the business community have argued that raising the minimum wage will lead to more unemployment, Greenberg tells FBN’s Maria Bartiromo that there are much bigger fish to fry.

“We’ve got to get entitlements in control … We’ve got the highest corporate tax rate in the world,” says Greenberg, listing the concerns that rank high on his list.

“We should be focusing on things that create jobs and increase business opportunities,” says Greenberg.

Greenberg says while technology innovation can help the workplace, further dependence on computers may reduce the need for human workers.

“Technology is causing the loss of jobs. New technology is replacing people and that will go on for some time – you can’t change that,” says Greenberg.

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To this end, Greenberg says the U.S. needs more programs that help retrain workers for a new economic landscape.

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