Mark Cuban Calls Out Entrepreneurs Who Refuse To Pay The Minimum Wage. 'All Of Us Pay For The Fact That You're Not Paying That Person Enough'

Billionaire entrepreneur Mark Cuban erstwhile delivered a frank connection to concern owners who defy paying higher wages: if companies underpay workers, everyone other ends up covering the cost.

Cuban explained that his views connected the minimum wage changed aft helium discovered thing troubling wrong his ain company. On the “Valuetainment” podcast successful 2015, helium shared that immoderate employees were moving full-time but inactive relying connected authorities assistance to get by.

That find pushed Cuban to rethink however businesses dainty lower-paid workers. He said helium didn't similar the thought that taxpayers were indirectly making up for wages that were excessively low.

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“I hatred the thought that I’m subsidizing somebody,” Cuban said. “You know, the information that I’m not paying enough, everybody’s taxes are subsidizing this person’s life.”

As a result, Cuban raised the minimum wage astatine his institution to astatine slightest $10 an hr aboriginal that year.

For Cuban, the contented comes down to fairness. When companies wage precise debased wages, workers often trust connected nationalist programs similar nutrient assistance oregon lodging enactment to survive. That means taxpayers assistance capable the spread created by debased pay.

“All of america wage for the information that you’re not paying that idiosyncratic enough,” Cuban said successful the interview, directing his disapproval astatine entrepreneurs who defy raising wages.

He besides noted that if wage increases use broadly crossed businesses, the competitory playing tract stays level. In different words, if everyone has to travel the aforesaid rules, nary institution gains an unfair vantage by paying workers less.

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The speech astir minimum wage has continued for years, with beardown opinions connected some sides.

Personal concern adept Dave Ramsey has taken a antithetic view. In a 2024 speech with comedian Theo Von, Ramsey argued that minimum wage was ne'er designed to enactment a household oregon physique semipermanent wealth.

“I don’t deliberation immoderate clip successful history, minimum wage has been capable to instrumentality attraction of a family,” Ramsey said. “So you’ve ever had to deliberation beyond minimum wage if you wanted to excel, if you wanted, a, physique immoderate wealthiness oregon b, conscionable instrumentality attraction of a family.”

Ramsey believes workers shouldn’t dainty minimum wage arsenic a limit. He pointed to his ain acquisition arsenic a teen mowing lawns, saying helium charged $3 per gait erstwhile the minimum wage astatine the clip was $1.65 per hour.