Ex-Treasury Official: Profitable Companies Should Pay People More

Wednesday, 23 Apr 2014 09:00 PM

By Greg Richter

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A former Treasury Department official under presidents Bill Clinton and Barack Obama takes issue with the argument that socialism doesn't always work, and said profitable companies would benefit by paying their employees more money.

Appearing Wednesday on Fox News Channel's "The O'Reilly Factor," ex-Treasury senior adviser Susan Ochs took part in a discussion with host Bill O'Reilly and Fox Business Network's Stuart Varney on the stagnant wages of U.S. workers.

Ochs, currently a senior fellow at the Aspen Institute, said people aren't being paid enough by companies making large profits, but O'Reilly and Varney blamed tax policy and lack of domestic competition.

When O'Reilly told Ochs that the employees of his show are paid well, she responded, "Well, your cool and awesome employees here are pretty special."

"No, no. It's because we're making money here," O'Reilly said. "We want to keep them. If they go to CNN, CNN might improve. So it's a competitive situation here."

Obama has reversed the system people once used to achieve the American dream, said Varney, who left England for the United States 40 years ago.

"I'm a refugee from socialism. I'm an English immigrant to America," Varney said. "Socialism doesn't work."

"That's not socialism," Ochs said as the segment wrapped up.

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