The area I lived in voted for a minimum wage increase several years ago. Tons of people were saying that it was a bad idea, because the businesses would just raise prices on everything.

Minimum wage increase passed. Prices didn’t change.

I think this is because minimum wage increases don’t happen in a vacuum. There are other things to consider. If your company raises prices, I’m going to go to a competitor who doesn’t. The idea that “they’ll just raise prices” assumes that all businesses will react to a minimum wage increase in the same way, and that’s not the case.