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>> absolutely. something called the free market. who thought that could raise people's wages. a lot of people start at the minimum wage and then work their way up. >> absolutely. the ones that don't have the knowledge need it. interns. they want the knowledge is the information. the information is the wealth. that is how you make it. >> john: so you build a business you create jobs and you have 28 employees now. half the employees earn about $18 an hour. the average hourly wage in america is $16.57 well above minimum wage. the market sets it for 95% of the workers. what is wrong with having a ...

>> how about if you get no money no credit? >> i think it's fair. once you start making demands on companies to pay you academic credit. they say i don't want the hassle. i would rather see something else. >> john: abc where i used to work, in tune with the latest democratic party thinking. they decided, we can't have these internships where we don't pay anybody. they decided before it was publicized. we're going to pay everybody $10 an hour. that is great for those well connected internships that got the job but they cut the internships in half. there were fewer opportunities. >> i would rath...

I had the job of getting all the coins in cash register and putting all the pennies in the paper rolls and dimes and quarters. it was stuffing those paper rolls. >> john: many worked long hours. my mom would pick me up at 2:00 in the morning. she was raising five kids, not just me. the third night this happened she said, billy, you need to find another job. >> john: shannon bream helped her mother? >> i had to go around every pane of glass after they were painted and scrape off glue and paint. >> charles payne worked at a shop in harlem? >> it was tough gig. you did the register but i was in l...

So why do countries enact minimum wage laws. >> john: politicians are dumb? >> maybe they are smart. maybe above average, i doubt that. [ laughter ] >> but clearly the government is going back many, many years decided that we have to set a floor for wages because when unemployment is as high as it is 13 million people. >> john: what the floor? >> the debate what the floor you are right. >> $8 a good, why not a hundred dollars an hour. we'll all be better off. >> i think they have enacted minimum wage because they feel with unemployment high some may be forced to say, i'll work for 50 cents an ...

Famous fashion house, she worked 9:00 a.m. to 9:00 p.m. sometimes she worked weekends and wasn't paid at all. a lot of the time she didn't have things to do, she ran errands. >> john: she can quit. >> that is true. we believe that companies should follow the rules. that is a conservative notion, companies should not break the law. >> john: dumb rule. >> then changes the rules. people in company should lobby the labor department to change the rules. >> john: you help students find internships? >> absolutely. we are based out of washington, d.c. and i can't say enough the advantages and importan...