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$15/hour is the equivalent to an annual salary of about $30,000 per year. As someone who handles the accounting for many small businesses, I can tell you first hand, a lot of them will suffer or be put out of business if they were required to pay this much. When a small business owner is only netting $40-50K for their efforts, it will be a challenge for many to go from $8.50 or$9.00/hour they pay their part timers now to $15/hour.
I've had small business clients tell me that their $50K net is really just not worth the risk and effort they put forth. Knock that down to $30K net for the owner because they have to pay their staff more and they're just going to shut the doors. They might as well go get a "minimum wage" job and not risk their life savings on running a business.
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Lee
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