A $15 minimum wage is 'daunting'

Seattle just passed a $15 minimum wage bill, and San Francisco will vote on one in November. It's a hot topic among lawmakers around the country, and business owners are concerned.

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A $15 wage is really $18

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Name: Michael Tucker
Business: Books Inc.
Location : San Francisco

Michael Tucker has owned Books Inc. for 20 years, but the business dates back to 1851 and the California Gold Rush.

With six locations, he has 125 employees working in San Francisco.

Tucker said book selling is a low-margin business to begin with, and he's worried a $15 minimum wage would wipe it out altogether. He said it's difficult for bookstores to pass on wage hikes to consumers since "the price is printed on the book, and we're competing with Amazon (AMZN)."

Like other San Francisco business owners, Tucker said the cost of business is increased by the city's "Healthy San Francisco" program, which requires employers to pay into a healthcare fund for employees. Instead of $15 an hour, Tucker says it really adds up a wage that's more like $18 an hour with all of San Francisco "add-ons."

And if $15 is the starting wage for less experienced workers, he said those with more experience will need to earn more, further increasing employer costs.

NEXT: I'd have to cut hours

By Patrick M. Sheridan @CNNMoney - Last updated August 05 2014 05:05 PM ET

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