Mark Cuban: Employers paying $7.25 minimum wage are 'charities' subsidized by taxpayers
Mark Cuban criticizes the federal minimum wage of $7.25/hour, which has remained unchanged since 2009 — the longest freeze in history. He argues that employers paying such low wages are not viable businesses but rather "charities" that rely on taxpayer subsidies through programs like food stamps and Medicaid. Cuban calls for raising the minimum wage to a living wage, framing low-wage employers as being subsidized by the government and taxpayers.
Key quotes
If you can't afford to pay your employees a living wage, you don't have a business, you have a charity that is being subsidized by the rest of us.
The federal minimum wage has been $7.25 an hour since July 2009. That is 17 years without a single increase, the longest freeze in the history of the Fair Labor Standards Act.
A full-time worker earning that rate takes home $15,080 a year, less than a third of the average American salary of around $60,000.
From the article
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