Ex-McDonald's CEO says raising the minimum wage will help robots take jobs

A former McDonald's chief executive has warned that raising the minimum wage will spur unemployment as companies will instead employ robots that work for less. "I guarantee you if a 15 minimum wage goes across the country you're going to see a job loss like you can't believe," said Edward Rensi in an appearance on Fox Business Network Tuesday. "It's cheaper to buy a 35,000 robotic arm than it is to hire an employee who's inefficient making 15 an hour bagging French fries." The minimum wage has been a hot topic this spring, with some states and employers deciding to up their minimum wage to 15 an hour in the coming years. California will raise its minimum wage to 15 an hour by 2022.