[PsYcNeT]

I still maintain that if your business model is predicated on underpaying your labor, and would "go under" because of a minimum wage increase, you are bad at business.

In reality, most owners just don't want to take the haircut, not because they can't afford it. People vastly overestimate the level of altruism that exists among small business owners. The biggest lie ever told is "If I could afford to pay them more, I would!"