Fast Food CEO who made 291 times minimum wage says raising minimum wage will only hurt you [View all]

[Miles Archer]

One fast-food CEO has a message for the workers toiling away in his industry: The minimum wage hike you’ve been clamoring for will only hurt you.

The consequences of raising the minimum wage include more youth unemployment, higher prices and increased automation, says Andy Puzder, the head of CKE restaurants, the parent company of Hardees and Carl’s Jr.

“Government needs to get out of the way,” Puzder told Yahoo! Finance in an interview Monday. “If government gets out of the way, businesses will create jobs and wages will go up.”

Puzder made $4.4 million in 2012, according to Forbes. That's about 291 times what a minimum wage worker makes in a year, if they're earning the federal minimum and working full-time. The average fast food CEO made 721 times what minimum wage workers took in in 2013, according to a recent report from the Economic Policy Institute.

http://www.huffingtonpost.com/2014/07/07/andy-puzder-minimum-wage_n_5563975.html