[MrPrena]

Although I am against 90% increase in minimum wage at once, they should keep up with wage inflation and other indicators of inflation.

I sure do not want to pay ~25% (speculating) price hike in necessities or fast/casual food during lunch hours either. I am 99% sure that corporation will not pass on ALL the wage increase to consumers for sure. Consumer will get hit about ~25% increase, which I cannot afford.

On the other side, software companies, etail, high tech companies with high valuations are paying much higher preimum relative to the earnings multiples. (just look at chemical sector employees vs ppl at amazon at their 6-10th year avg). So, why would McDonald general manager who has to do all the acct, mkt, sales, and comply with corp standard, etc needs to get paid less than fresh off of the boat finance guy working at different sector but work for a companies which have a same earnings multiples if they are doing nearly similar level of work?

Also, some idiot labor economist says it is "zero sum game." They say that it is shift in wage from higher paid to lower paid. However, it is wrong.
Typically lower wage people must buy necessities as well to survive, and we will see a price increase. That goes same to TV, smart phones, PC, tablet, and other high tech manufactures. It may NOT effect Aston Martin or Ferrari dealership. lol

Who knows? people are saving right now despite of lower rate right now. Even YOLOs didn't have too much $ to consume after having portion of tax returns shrinked for lower wages.

I am sure some economists (or wanna be) here will ask me to back it up with theories, data analysis , and math. I just don't have a time to do so. Why would I do it, if I don't get paid to analyze and predict the labor market.