Have the proponents of raising the minimum wage talked about where the extra cash to pay the higher wage will come from? Will the city reduce taxes so the small business owners can pay more to their employees? Will they otherwise make up the difference with taxpayer dollars?
Or do the socialists want the businesses to somehow pay using their obscene profits? Do the socialists have a clue on what are the economics of free enterprise? Do they understand risk, cost of satisfying all the government regulations, paying the taxes, etc.?
In a word: No.
But more broadly, they do not have a clue about economics at all (or are charlatans who know better but play to a voting base with no clue about economics). The left is an alliance of evil charlatans and the good-hearted, but clueless about economics.