00:00Warren Buffett recently admitted something surprising.
00:03The toughest question he's ever faced is whether the minimum wage should go up.
00:08His response?
00:10I don't know if people will be better off.
00:12It's a striking statement from one of the world's most respected financial minds.
00:17While Buffett supports higher pay for workers,
00:20he also cautions that a higher minimum wage could unintentionally reduce job opportunities,
00:25especially for entry-level roles.
00:27Instead, he proposes a different solution,
00:30strengthening the earned income tax credit.
00:33This approach ensures workers receive a livable income through government support
00:37without forcing businesses to cut back on hiring.
00:41In other words, rather than raising wages through regulation,
00:45Buffett believes in supplementing incomes through policy.
00:49With a nearly $18 trillion GDP,
00:51he argues the U.S. has the resources to make this work if the political will exists.
00:56It's a complex issue with no easy answers,
01:00and Buffett's honesty reminds us,
01:02even billionaires don't have every solution,
01:04but they do offer perspectives worth discussing.
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