I have long stated that liberals will tell you exactly what they want to do, you only have to listen. Sometimes you have to be patient and wait for them to let it out in an unguarded moment, but they are incapable of keeping their intentions bottled up forever. Their arrogance and pride forces them to blurt it out in the equivalent of a Perry Mason confession (to paraphrase Ann Coulter)
That statement speaks volumes and clearly illustrates what we all know, that he is completely ignorant of the mechanics of a capitalist economy.
Even if the workers were slaves, it takes capital to operate with them. If forced by edict, that other companies had to do business with them, they themselves require capital.
If everyone were paid the same amount, money would still be limited as to what could and could not be purchased.
If $$$= time, time can only buy so much time. 1 hr of one mans time is 1 hr of another mans time. A man works 40 hrs, he can buy 40 hrs of food that a farmer worked 40 hrs for, but has nothing left for the tradesman to build a house, or a teacher to teach a child etc.
If a teacher cannot be paid 40 hrs of labor, they can't pay anothers labor. Money can be printed, BUT hours of work are fixed. $$$ is just the way we quantify labor or industry. The moment one arbitrarily creates more money, one creates imbalance (inflation). One person labor is devalued while another is increased.
Simple economics, which Obama has failed at. Just like everything else he touches.