You are full of bull.
I own a breakfast restaurant, and I'll tell you that with real numbers.
My sales are 70K a month, wages are 20K a month. My total expenses excluding my salary are 62K month. Adding 30% to labor cost would add another 6.5K a month, meaning I'm now right at the red line, and my lowest payed employee is making more than me, after I put half a milllion in the business and worked for 3 years without any profit.
On top of that add the price increase which I'm sure my suppliers will transfer to me because their labor costs went also up, and there you go. Is that good enough calculation for you????