Eliminating Minimum Wage Would Help Poor People, Claims Multi-Billionaire Charles Koch

| by Michael Allen
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Multi-billionaire Charles Koch recently claimed that eliminating minimum wage, which is $7.25 per hour, would somehow help poor people.

"Anything that people with limited capital can do to raise themselves up, they keep throwing obstacles in their way. And so we’ve got to clear those out. Or the minimum wage. Or anything that reduces the mobility of labor,” Koch told the Wichita Eagle.

Koch, who is worth an estimated $43 billion, according to Bloomberg News, didn't explain exactly how minimum wage was an obstacle or reduced the "mobility of labor."

Using this same logic, the Charles Koch Foundation is spending $200,000 on a TV ad campaign ((video below) called "Economic Freedom in 60 Seconds" that will air in Wichita, Kansas for four weeks.

According to, the ad does not mention minimum wage, as Koch did in his interview, but does say that Americans earning $34,000 a year are in the top 1 percent of the world, without mentioning the cost of living is higher in the U.S. than most countries.

Source:, Wichita Eagle, Bloomberg News