Your link mentions health concerns, fragmentation in the sector, and lack of innovation as drivers of the decline, not price.
Got something that actually supports your claim?
To her Wall Street owners: Hillary Clinton: “But if everybody's watching, you know, all of the back room discussions and the deals, you know, then people get a little nervous, to say the least. so, you need both a public and a private position.” - Hillary Clinton: "I'm kind of far removed from the struggles of the Middle Class"
your math, and your assumptions are actually quite reasonable here....up to a point
so 12% inflation on food prices.....but you forgot about a few things
lets also assume they lose just a few customers because of price increase
now....you only addressed the minimum wage workers
what about the rest of the staff?
is the guy who has been there for eight years, never missed a shift, and now a shift supervisor staying at his 15.50 rate?
what about the rest.....if the newbies, or no skills are coming in at $ 15, what do you now pay those who have been there with you for awhile, and earned their place?
what kinds of raises do they all get? or do they....and if not, what happens to morale in your shop?
we can get back to that.....
if your prices are going up 12%, what do you think the rest of the businesses are having to do?
what will that do to total prices you are paying for everything else?
will your suppliers keep their same prices?
so, lets say overall prices increase 6-8% city wide.....again an assumption
so who has benefitted?
a. the city has.....you earn more, you pay taxes on more
b. the state has....same reasoning
c. the feds have....same reasoning
d. the unions have....most of their contracts are based off of minimum wage numbers
have the MW workers really benefitted?
who has been hurt?
the fixed income people....the seniors on social security who have to wait for their raises in their checks AFTER the inflation has already occurred
so is it worth it?
you tell me
“Most of the shadows of this life are caused by standing in one's own sunshine.”
Ralph Waldo Emerson