Most eateries are not corporate owned. If it’s a small owner-operated place, the owner does NOT get a yacht, and in the place too.
The increase will actually give an advantage to small, family operated places. In Philadelphia, a lot of the lunch crowd gets food at lunch trucks, where the guy serving the food is the owner. These guys would not be affected, since they have no employees.
Most small business owners I know all play the poor pitiful me game and tell everyone how they make less then their employees etc. When in fact they are banking a tremendous amount of money in the corporate account. Then they sell out and make a fortune all the while we are supposed to feel sorry for them.
As a young guy I worked for several “small” business. A mechanical contractor, a restaurant and a car wash. Every time I’d ask for a raise I’d get a sob story about tight margins ( “I under bid this project just to keep you guys working” blah blah blah ) and slowing business cycle etc. But ironically every year all of them would throw a nice catered summer bbq type get together. All them had nice houses, the kids drove new cars the wives had thick jewelry on. This is my first hand experience. 3 for 3 BS artists all.
That’s the case with many businesses. Earlier this week, I took my brand new company truck to have some detail work done which would take a couple hours.
The shop owner offered to loan me his truck to go run an errand. It was a beat up 10-12 year old Ford truck.
Yea, he was the super rich business owner.