This attorney is either lying, knows nothing about business, or is smoking the weed that his father is peddling.
The vast majority of business owners are not the mega rich, and they don’t have the profit margins to pay for increasing the minimum wage from $8.60 to $15 an hour. The profits earned from the money invested in a business amount to less than a 7% return on investment. A 74% increase in the cost of labor means that the ROI goes down to 2% or even less. A business owner needs to find ways to make up the shortfall, or else he might as well put his investment in a high yield CD for far less work and risk.
A business owner has two choices: raise prices, or cut costs. A business can only increase prices so far before customers decide that they can do without that burger or that scoop of ice cream. The next step is to automate as many jobs out of existence as possible. This is why Amazon is killing the retail industry. This is why McDonald’s is installing ordering kiosks to reduce the number of employees needed to run the place.
The Democrats keep putting things on the ballot that they know will encourage likely voters to show up at the polls. In 2016, it was medical marijuana. They are already saying that in 2024 it will be recreational marijuana.