Trump's point is that businesses outsource their labor overseas to take advantage of the cheap labor and tax benefits, which he's right. However, matching labor costs here is not economically feasable, in that essence I agree with Hondo.
However I disagree about how raising the minimum wage brings much benefit economically. Most of our essential service industries are supported by a minimum or close to minimum wage workforce. Raising the minimum wage will lead to increase costs at the supermarket, restaurants, gas stations, retail stores, etc. The minimum wage worker getting a raise is a myth, as their cost for essentials goes up as well. Who gets screwed in all of this are the people making slightly over minimum wage. These people, will actually see a wage decline as their purchasing power will take a significant hit.
This is part of the reason why we have a continuing growth in disinterest in the American workforce. Why should I have to work my ass off, when I can get the same and in some cases more benefits by setting at home watching Jerry Springer re-runs.
Now if we want to include an inflation kicker say 3% a year to minimum wage, I'm ok with that. If you use 1978 as a target compunding 3% a year, today's minimum wage should be $7.91/hr, which is more than the $7.25 is it is now. Honda wanting to go to $10.00 in three years is a bit extreme, I think 3% compounding from $7.91 to $8.64 is more than sufficient. $10.00/hr would then be the minimum in about 8 years. Of course, in situations like a depression, some of those increases may have to be halted.
There needs to be give and take. If there is a set increase in minimum wage, then intitlements have to be heavily regulated. Unless you have a severe physical or mental condition, you should have to work or you get nothing.
