Lets say you increase wages for the lowest earning employees from $10 to $15.
Lets look at a Mcdonalds restaurant:
Now, the team leaders who were making $14 per hour are making less... to even that out they need to increase them to $18 per hour. Now the shift supervisor earning $16 per hour are making less... they need to increase their wages to $20 per hour. Then the Assistant manager making $18 per hour are underpaid... they need to be increased to $22 per hour. The Manager who was making $20 per hour needs to be increased to $24.
So if there are 12 employes earning minimum, 4 team leaders, 3 supervisors, and one assistant and 1 manager before the rate increase the 40 hour workweek payroll was 10,480. After the increase the payroll is now 15,920.
McDonalds will have to cut expenses or increase prices.
The same theory is applied to every single business model. As prices are inevitably increased so are living expenses like food, utilities and rent.
Increasing the minimum wage without thought to the true cost and skill required to perform a job is idiotic.