Why San Francisco's New $10 Minimum Wage is Still Too Low - 2 Minute Finance

Starting January 1, 2012, San Francisco will have the highest minimum wage in the nation, increasing to $10.24. It's all thanks to a 2003 voter approved initiative that ties the city's minimum wage to the rate of inflation. Although crossing the $10 threshold has been headline grabbing, it's actually still not enough for some residents of San Francisco to put a roof over their head.

2 Minute Finance runs the numbers and shows you why. You won't want to miss the eye-popping results.

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• minimum wage
• increase
• san francisco
• finance
• low
• criticism
• 2012
• apartment
• rent
• food
• transportation

[415Dub]

That, along with the ridiculous excessive regulations in SF, it pushes A LOT of jobs out of the market and makes it extremely difficult to start a small business.

[415Dub]

Increasing the minimum wage is anti-poor and dangerous. Businesses can't hire a poor person for any task worth less than $10+ an hour. How is a poor person supposed to ever get a job when a business is required to pay him at least over $10 an hour? Are you guys just totally oblivious to how many jobs will be lost, or not created? Plenty of businesses hire over the wage law anyway, all this law does is put stress on small business and cut off the bottom of the economic ladder to the poor.