Walmart Exec Bill Simon: Minimum Wage Debate Is Shortsighted

10/30/2013 12:18 pm ET

Last month, Washington, D.C., Mayor Vincent Gray buckled under pressure from retail giant Walmart and vetoed a controversial bill that would have required some of the biggest stores in the capital to pay workers $12.50 an hour.

Despite evidence that raising the minimum wage could actually be good news for the nation's largest employer, which paid most of its workers less than $25,000 last year, the company refuses to budge on the issue.

Why not pay more? Walmart U.S. CEO Bill Simon says that starting wages aren't really the issue. Watch the full video from CNN Money to find out what he believes is:

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