It's 2025, and the federal minimum wage in the U.S. is still stuck at $7.25 an hour—exactly where it's been since 2009. While some states have raised it on their own, millions of Americans are still struggling to make ends meet despite working full-time jobs.
Buffett has been asked for years whether the solution is to raise the minimum wage. His answer? It's complicated.
"It's the hardest question I've been asked because I don't know the answer," he admitted in 2016.
He supports higher wages but worries about unintended consequences.
"If you tell me I've got to run a business that pays $15 an hour in many industries, I'm going to employ fewer people than before," Buffett explained. "I don't want to employ fewer people; I just want that person to make $15 an hour."
It's a classic economic debate: higher wages mean better pay for workers, but could also lead to fewer jobs if businesses cut costs by hiring less.
Instead of pushing for a higher minimum wage, Buffett champions the ear...