From Think Progress:
Now, [Howard Schultz, CEO of Starbucks] is tentatively putting his weight behind the Democratic push to increase the minimum wage from $7.25 to something more like $9 or $10 an hour. In an interview with CNBC, Schultz said, “I am a supporter of the minimum wage going up“:Howard Schultz, the head of the global coffee giant, told CNBC Wednesday that “the minimum wage issue is a double-edged sword,” because while boosting it would mean higher wages for workers, it may also discourage businesses from hiring more people.“On balance, I am a supporter of the minimum wage going up,” he said. “We’ve got to be very careful what we wish for because some employers — and there could be a lot of them — will be scared away from hiring new people or creating incremental hours for part-time people as a result of that wage going up.”Last week, House Republicans voted down a proposal pushed by Minority Leader Nancy Pelosi (D-CA) that would have raised the minimum wage to $10.10 an hour. The Senate has made no motions to improve the wage. Sen. Elizabeth Warren (D-MA), however, has pointed out that the minimum wage would be $22 an hour if it had been adjusted for inflation and worker productivity. Indexed to inflation alone, it would stand at $10.40.