Raising the minimum wage to $10.10 an hour from the point of view of a business owner

First of all I want all people to have a living wage too. And $10.10 an hour is a reasonable place to start.

However, then you have to go to the reality of the situation. The reality is for every job that is actually worth paying someone $10.10 an hour there will be many that will not be sustainable for that amount of money. In otherwords in order to do that the employer will either have to raise his prices a lot or eliminate the job. This is the reality in the real world.

So, the actual end result for people who don't run businesses is less jobs at $10.10 and hour and more jobs paid on a piecemeal basis. And when you take it to a piece meal basis if a robot can do it cheaper or faster or both humans just lost one more job to robots or computers or a combination of the two.

Also, if the minimum wage is raised an employer might think, "Oh. I can't afford to pay people that much per hour and stay in business. So, he or she might say, "Well. I can eliminate all the jobs at $10.10 an hour and hire only lead foreman at that rate who will supervise advanced computers and robots. That is how I will solve the economics problem.

So, as you can see in the real world as opposed to a theoretical one, the consequences are going to be much different than most people now think. The main result will be a few people happy with  their raised wages and then a whole lot more upset because their jobs just got eliminated. This is the reality of the situation that all business owners will have to deal with in some way, shape or form.

Someone who owns a business has to deal with competition from other businesses not only in the U.S. but sometimes from all over the world. And if he or she can't compete they will have to close down the business for good and no one at all will have a job. Maybe government jobs might work differently, but anyone who has to compete on the open market with other businesses has to address it in one of the ways I illustrate here or other ways not mentioned. This is the real outcome of raising the minimum wage to $10.10 an hour. Is it a good thing?

Yes. It is good for the employers who can afford to pay this wage and stay in business. It won't be okay for the others which will either go out of business or find some other way to solve this problem.

It also will be good for those employees who receive the higher wage and who aren't laid off their jobs because of the new minimum wage.