What you are describing is false. It doesn't happen. Look to every other time the minimum wage is raised. The fear mongering doesn't hold any water.
The money comes out of company coffers where it was sitting and doing nothing. It then goes to the bottom who spend it all and those companies then have more customers. It creates a better economy with more prosperity for all.
That's what has happened every time.
Not all businesses have great profit margins. You are making an assumption that the business will still be able to make a profit once higher wages kick in. Not all businesses can and that's just a fact. So they will need to increase the cost of their services or reduce costs elsewhere. I know a few businesses will try cut costs but I can also assume that a lot will increase cost of their service. Small businesses get hurt the most by this.
It will be a net benefit. Tighter margins on more volume still works out.
Come on mate construct an argument, you're not proving anything by just saying your opinion and not backing it up.
Wow, you've completely characterized your stance and then projected it onto me. My argument is to reference history and the times when this very same thing has been done before.
You are just lamenting ideologies that have been proven false in reality.
I'm sorry you don't like the facts.
The article you linked had analysis on how increasing minimum wages affected employment level, of which it concluded there was none which is supposedly good.
Later in the article there is this quote from Armine Yalnizyan'
"You get very poor productivity when you can coast on the fumes of just hiring cheap labour," Yalnizyan said. "Raise the cost of labour and you'll suddenly see businesses trying to do more with less."
This person has the opinion that this will happen but no hard evidence that businesses will be able to reduce costs enough not to have to increase their services cost. In history raising the minimum wage caused inflation. If I need to explain inflation to you then there's no point arguing with you. They receive more money but each individual unit of money is worth less. There is no point to increasing minimum wage, if you really want to make things cheaper for people we should be decreasing wages of people who are getting paid more than what the value they are actually providing is. ie. Finance Industry, CEOs, Managers and so on.
"The article you linked had analysis on how increasing minimum wages affected employment level, of which it concluded there was none which is supposedly good."
It states that employment levels were better after a brief adjustment period.
"This person has the opinion that this will happen but no hard evidence "
You are a strange person. You are arguing against historical analysis and claiming there is no hard evidence. What do you think the historical record they are analyzing is? It's all evidence. You are the one arguing a stance with no hard evidence.
My evidence is the very well documented effect that inflation has on the economy. Just look up wage push inflation and be amazed.
http://www.investopedia.com/terms/w/wage-push-inflation.asp
Also I'm really surprised that someone with your reputation level can't make an argument without using a fallacy.
LOL would you care to name the fallacy?