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Agreed. And also, wouldn't effectively raising the minimum wage to ~$20 and jacking up wages across the board cause the price of goods to increase enough such that a $20/hr wage is below the poverty line? That money has to come from somewhere, and I imagine most employers would elect to pass those costs on to the consumer.

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Smaller companies would fold, larger companies would pay more in the short term, and become much more capital efficient in the long-term. When the minimum wage increases, the ROI of replacing people with machines changes, and yields higher R per I.

If just the "companies that can bear it" bear it, you'll get less of those stores, as the expected profit yield per store decreases. Less stores is less competition, which will yield higher prices.

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