Buffett: Inequality is a Problem, But Raising Minimum Wage is Not the Solution

business_ethics_highlights_2Warren Buffett is so phenomenally rich that comparison with mere mortals is silly. But there is a vast, and relevant, disparity between the average working-class American and the average, run-of-the-mill American millionaire. Buffet thinks the disparity is a problem, but thinks that raising the minimum wage — the most commonly-suggested solution — is more likely to hurt the poor than to help them. He’s not the first to suggest that a better solution lies in a tax credit for low-income earners. But his name, and his famous talent for finance, might get some people to listen. >>>

Buffett Says Minimum Wage Increase Isn’t Answer to Income Gulf

“I don’t have anything against raising the minimum wage but I don’t think you can do it in a significant enough way without creating a lot of distortions,” … [and those distortions] …“would cost a whole lot of jobs,” Buffett said…..


Brought to you by:
business_ethics_highlights

One comment

  1. Pingback: Top 10 Business Ethics Stories of 2015 | The Business Ethics Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: