During these tough economic times, we shouldn't be setting a minimum wage that promotes outsourcing of jobs. Why would a company want to plant roots in America when they could do the same thing in Asia for a fraction of the price? Many small businesses, especially those that rely on high school students, could not afford to stay in business with these high of wages.
Tomorrow, I'll be seeing my former boss, who's daughters I'm friends with. I'm going to ask him what sort of an impact it'd have on his business if the minimum wage almost doubled to $12.00, and will be coming back with a report. I'll also be asking for some numbers from GM Shua, as well as doing my own research.
$10.50 is still a significant raise from where it actually is in RL, at least here in Indiana, a Mideastern state. If something this unrealistic would ever pass in RL, I fear for what effects it would have on the economy.
I would be willing to set the minimum wage at $11 per hour. Would that be an acceptable compromise?
