They are adding additional tours due to overwhelming demand. First valentines day tour, dont turn off your nose in 2012 attracted 220. Ashley turn up your nose is what you have to do. My wife would divorce me. Liz things to watch tomorrow, cisco reported earnings that beat on both the top and bottom line but the stock is selling off afterhours. I will be speaking 3 00 p. M. Eastern with ceo John Chambers tomorrow. So please dont miss it. Ashley dont miss that. Number one thing to watch tomorrow will be initial jobless claims. Economists expect claims to drop by the way by 6,000 to 360,000. Liz that is a number you want to see go down. Money with Melissa Francis is next. Melissa im Melissa Francis and heres whats money tonight. The president says hiking the minimum wage will do wonders for workers but a multifranchise owner testifying in front of Congress Today says it is going to do just the opposite. He joins us exclude exclusively to explain why. Plus pass Climate Change legislation or else. President obama threatens executive orders to cut pollution but would cutting out Congress Cross the line . Lou blue dog democrat kurt slader is here to respond. California is running out of doctors. The golden state prepares for obamacare only to find out it has got a physician shortage. How a wave of newly insured patients could overwell wem the state. Even when they say it is not, it is always about money. Melissa so on to our top story tonight. One of president obamas boldest calls in last nights state of the union speech was to raise the National Minimum wage from 7. 25 to nine bucks an hour. Thats a 24 increase. And it brings us back to the conversation weve been having here on money on whether or not this will lift the economy or just lift the unemployment rate. Today on capitol hill Business Owners in the trenches, testifying in front of the House Committee on Small Business. Joining us in a fox business exclusive straight from testifying is sean fogg. Seans a multiunit franchise owner. He owns and operates businesses across four states. Thanks so much for coming on and tell us a little bit what you, what message you went to carry today. Thanks for having me on, melissa. I came to capitol hill today to talk to them about Small Business and basically how government is getting in our way of growth. Melissa do you think they believed y . How did you make your case . What are they specifically doing thats slowing you down . Well the big thing is access to capital and the regulations and the policies that theyre putting in place but more importantly its more about the indecisiveness of what the policies will be. They continue to kick the can down the road for six months to a year and i have no idea what my taxation rate will be next year and i just found out about what it will be this year. And when you talk about the Affordable Care act, there continues to be waivers, exemptions, changes and differences in the policies that were originally very difficult and cumbersome to understand and now it continues to get more difficult. Melissa one thing that sound certain you will have to pay your workers more. You own and operate 12 franchise units. You have 4 fran chiees. You have mrs. Fields famous brand, pretzel maker franchises all kinds of things americans are very familiar with across the country but these are places where you employ people at minimum wage. How is that going to impact your business if youre forced to pay people 9 an hour . As you mentioned in the beginning it is a 24 increase at a minimum because those people that i currently pay, maybe 9 an hour, when the minimum wage goes up they will want more because they have been there longer or theyre a fulltime employee. In my business i employ a lot of High Schoolers people just getting their first job and they are not fulltime employees. President obama last night was very specific when he talked about the minimum wage and the federal Poverty Level and someone who works full time at minimum wage. None of my fulltime employees make the minimum wage. Melissa that is a great point. That is how some people get started. If there wasnt a minimum wage that was low they wouldnt get a job. Other people would take the opportunity at a higher wage. It is sort of the openly way to get started. In your case, how would you respond . If you have to pay 24 or 30 more. You make a great point. You have to lift wages of everyone else in order to stay in line that money will not grow on trees. What are you growing to do . Will you cut back on their hours . Will you cut back on other workers . Will you raise the price of your products . What would you do . That same question was asked in the Small Business committee today. I cant lay i dont have anybody or reduce hours. Were at minimum staffing levels. Part of what weve done with the downturn over the last several years. We watch our labor costs very closely. What it means though i wont continue to grow. I wont open anymore locations because when i look at the ability for a return on investment, if i have 24 more or 30 more in payroll costs, that is going right to my bottom line and take away any profit that i might be able to expect or realize. And so im going to make a decision not to open more locations. Every location that i open, employ anywhere between eight and 15 people. Melissa wow so those 23 Million People unemployed or arent working enough to pay their bills, those are people that would suffer as a result of this because there wouldnt be a new job that you would create because you would be paying your current employees even more. Why wouldnt you pass it along in the form of higher prices . That is the arguement i always get from people who are in favor of raising the minimum wage. Well prices will go up. You know, but wages will go up so it all answer out. People pay more but they make more, really Virtuous Cycle and all works out . You wouldnt raise your prices . No. I think youre exactly right. But, you have to remember i own Great American cookies and pretzel micker. There will not be opportunity for me to charge 4 for a cookie. I have a lot of problems increasing my prices because eventuully gets out of range for someone to purchase an impulse buy like that. What we have to do is find ways to mitigate any expenses that go to our bottom line with other methods. Ultimately like i said, not only will i not open new locations but some of my locations very low in profitability right now i will decide to close those because i will not make any money whatsoever. So not am i not employing new people but there are current employees i will no longer have in the system. Melissa sean, youre in the trenches. You are so practical. Out there fighting the fight. I really hoped they listen to you today because a lot of politicians are not practical. Theyre not looking at the math. Thanks for coming on. We appreciate your time. Sure, thanks for having me. Melissa looks like the minimum wage might have a, ma mum impact if you listen to sean. Lets attorney to todays money power panel. Jonathan hoenig Fox News Contributor and Portfolio Manager at capitalist pig. Christian dorsey Economic Policy institute and of course that is James Freeman to the wall street journal. Welcome to all of you. James, let me start with you, what do you think of what you just heard . It is a sad story especially for current employees. Sounded at beginning of interview they were safe although no new jobs. He said at end i might have to cut locations too. This is exactly what most economists would predict. Even your friends on the harvard faculty they realize this is junk economics. You raise the price of labor, youre going to get less of it. Melissa james, what do you think, im sorry, christian, what do you think of what you heard. Found the Small Business owner, largely sensible but i would like to bring out a key couple of points from the president s proposal. Melissa sure. One is value statement, melissa. The value statement is that people who work ought to not be earning Poverty Level wages. And certainly increasing the cost of labor will increase costs for business but, increasing, you know, providing usda inspections increases the cost of bringing food to market. It is still the right thing to do. I think Small Business owner is very, very wise in what he said. This is not necessarily going to result in the loss of jobs, because there are other ways that businesses can go about. Melissa that is not what he said. He said he will have to close locations and he will not open new locations and hire new people. I mean, jonathan, speak to christians main point. You know it is idea that its the right thing to do, that you want people that are out there other thanning minimum wage to be able to support themselves. That is value that makes sense. Unfortunately the math and practicality of it operating in the real world is the money has to come from somewhere. Well, indeed, melissa. Wages are not arbitrary. In a free market theyre actually determined by supply and demand for labor. Quite simply some jobs especially extremely low skilled jobs which seans employees participate in arent worth 9 an hour. So seans point he simply cant afford to hire more people, build that new establishment. Open that new store. That is what is so difficult for many on the left to understand. Minimum wage actually creates unemployment and hurts exactly the low skilled, low income people that ostensibly the president wants to help. Melissa james, respond to christians point, this is a moral value. People in making minimum wage is moral statement Unemployed People want is show me a job. The idea of 9 a hour is great help to workers. Why not . Why not go to 10, 20, 50 . If government can conjure wealth for all of us seems like mr. Obama is limiting us to 9, right . No, his proposal, this proposal is to bring fulltime workers from 14,000 to 18,000 a year. Were by no means talking about wealth. Were talking about people deeply poor, less poor. Lets get real here. Melissa everyone get out the calculators i want to play this for you. Listen to what the president had to say. Well talk about it on the other sides. Tonight i propose we use some oil and gas revenues to fund Energy Security trust. I propose a fix it first program, to put people to work as soon as possible on our most urgent repairs. Like the nearly 70,000 structurally deficient bridges across the country [applause] no one who works fulltime should have to live in poverty and raise the federal minimum wage to 9 an hour [applause] tonight i propose working with states to make highquality, preschool available to every single child in america [applause] nothing im proposing tonight should increase our deficit by a single dime. Melissa so that last part was the part that got me because if you added up all the things he talked about it was hard because they were not totally specific but you came up with about 16 billion in new spending. Im wondering how that doesnt add to the deficit at all . Jonathan, youre shaking your head. Go ahead to attack it first. More, smoke and mirrors from the president , unfortunately melissa. As a results as all Government Force does in the destruction of wealth. The destruction of jobs. When government gets in the business of business, no good comes of it and say lights everyones rights. The minimum wage is part of that. The president s new spending is part of that. And essentially results in the destruction of wealth. But obviously that is gameplan. To grow the economy by growing the size of government hasnt worked in last four years. Wont work in the next four. Melissa christian you may love a lot of things he said, ultimately they cost money. Like saying you can lose weight without diet and exercise. It just doesnt happen. How do you do it without costing money. One thing i took issue with the president said last night. This whole idea we are so hysterically focused on the deficit we dont do common sense things to grow our economy is completely ludicrous. He alluded to that fact. Now there are all kinds of ways that you can offset the spending with increased revenues or reductions in other places. That doesnt exactly move the ball forward. I think the president should have been real talking about what needs to be done. Melissa hang on. Let james respond. Investment, what christian said. They like to put that word. It is question of last night was hows the government going to pay for all this . I think jack lew largely answered it in his nomination hearing today to be secretary of the treasury in the senate. More revenue, more revenue, more revenue. That was the answer on virtually, every time tax reform came up, that was his answer. So. Melissa jonathan real quick, last word. Revenue, revenue is taxes. Just like investments, investment means government spending. Revenue means more government taxes. So seans cookie might not cost 4 now. Maybe cost five or six because the more you tax people the higher prices have to go. Melissa that better be a big damn cookie thats all i have to say, guys. Thanks for coming on. We appreciate it. Thank you. Melissa so heres our money question of the day, what do you think is the best state of the union moment . A lot of you said when it ended. A lot of you. Im not sure that counts. We know who our viewers are. The biggest response when the president said none of his big new incentives would cost a single dime thats what were talking about. Like us on facebook. Co facebook. Com melissafrancisfox or follow me on twitter melissaafrancis. That is what im doing during the commercial. Toos market moment, will it or wont it. The dow came within striking distance of alltime high but declines by mcdonalds and boeing helped pull the dow below the 14,000 mark once again. Meanwhile the nasdaq and s p 500 managed to squeeze out slight gains. Next on money, president obama threatens congress with executive orders to combat environmental change. Bun blue dog democrat says the president has gone too far. He joins us to explain why. More money coming up. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations i need to rethink the core of my portfolio. What i really need is sleep. Introducing the ishares core, Building Blocks for the heart of your portfolio. Find out why 9 out of 10 large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks,harges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. If Congress Wont ask soon to protect future generations i will. I will direct [applause] i will direct my cabinet to come up with executive actions we can take now and in the future, to reduce pollution, prepare our communities for the consequences of Climate Change, and speed the transition to more sustainable sources of energy. Melissa wow, president obama there, really throwing down the gauntlet on Climate Change last night. With so much on his plate, clean energy and the environment be so high on the list . Is the president overstepping hi bounds on this issue . Here with more on this, blue dog democrat congressman kurt schrader. Welcome back to the show. What do you think about that idea . We have so many problems right now . You know we have this unemployment, so many people out of work. House being market, problems with Small Business. Yep. Melissa theres a lot of things to work on. How did you feel about this being so high on the list . Well, im glad it was further down in the speech and he led off with jobs and the economy and dealing with our fiscal deficit picture. But, i really bristle at the idea he will unilaterally as one member, one branch of government dictate to the other two branches more importantly dictate to the house and senate, that constitutionally youre supposed to make laws, new laws. That is not right and that is just not going to happen. Melissa do you think that will fly . This isnt the first time he talks about the executive order. This seems like a new tool he whipped out of his bag and feels like, he is really going to use here in the second term . Well, talk is one thing. Action is another. I was just as upset when george w. Bush went the executive orders all over the place and i remember a lot of my democratic colleagues being very, very upset wanting to impeach george w. Bush. I didnt like it when he did it. Hey, i dont like it if this president goes down that road. Melissa how do you battle back against Something Like that . What you can do, ask congress. He pros pod a proposed a bill to promulgate Greenhouse Gas standards without Congress Stepping in. We stepped up to the plate. Said no that will not happen. Passed legislation on the house side to reign that in. There is point i happen to believe Climate Change is here and very, very real. See that in my home state of oregon. But it is not, the president s jurisdiction in a constitutional democracy, a republican like we have, to unilaterally make these decisions without direction from the American People. We represent the American People as congress. Melissa you have to wonder about implications of some of the other ideas he put on the table with respect to energy one is which the Energy Security trust. Use revenue from oil and Gas Production on public lands to fund new energy research. To me that sounds like new taxes or new costs that would go into production. Anytime you increase the cost of energy it shows up at the pump. And you know today were ha