Warren Buffett says that U.S. economic policy shouldn’t be too complicated. At least Buffett thinks its goals should be streamlined — into exactly two. The Sage of Omaha advocates a KISS strategy — as in Keep It Simple, Stupid — when it comes to what economic policy should do.
Buffett’s beliefs are critical in the argument over a proposed raise in the minimum wage, which Buffett believes should be approached with extreme caution. Here are Buffett’s two goals that every economic policy should strive to make possible.
- “First, we should wish, in our rich society, for every person who is willing to work to receive income that will provide him or her a decent lifestyle.”
- “Second, any plan to do that should not distort our market system, the key element required for growth and prosperity.”