Minimum wage debate insane, says ‘Mr. Wonderful’
The American Dream of trying to succeed and make money has been vilified, and the push to increase the minimum wage reinforces that “unhealthy” message, especially for Main Street, venture capitalist Kevin O’Leary told CNBC said Tuesday.
“This minimum wage debate is insane,” said O’Leary, who is known as “Mr. Wonderful” on the reality show “Shark Tank.”
“Can you imagine any way that would help a small business? It’s crazy,” he said on “Squawk Box.”
“Anything we do to try and vilify financial leaders, aspirations for wealth, I think is really unhealthy. And that’s what’s happened,” he said. “The government doesn’t create anything. It’s the man and woman starting a business that pays tax that provides everything.”
“In the last five years, … we’ve gone through this turmoil in financial markets and people have woken up to their concerns about money, … remembering what made this country great in the first place: starting your own business. That’s all that matters.”
“You’re supposed to aspire, to achieve, to become one of the 1 percent. That’s what drives this whole economy,” O’Leary said. “I think we vilify this whole thing. It’s a huge mistake.”
“That’s not American,” he concluded.
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