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So, either you think these companies will accept that loss, or you agree with the person you were arguing with.
Unless there is some wording in this legislation that dictates that the wage increase comes from profitability.
I never said it won't increase prices. What I am saying is that supporting record profits on the backs of people that are unable to afford to pay rent is fucked up. If they can't supply a product that people can afford without basically using slaves to do it, then they shouldn't exist. The fact that McDonald's can exist in other countries and supply a product that is cheaper than it is here is proof that it doesn't have to be the way it is. Despite doubling cost of wages they should have never been that low in the first place. If you have to eat into your record profits to have people be able to afford to live then that's your problem Mr every corporation.
That's all well and good. But nobody was arguing otherwise.