which kinda highlights a lot of the problems with current society and economics wouldn't you say?
Highlights nothing for society, the economics of it work just fine, if I invest money into a business, I want it to grow, Im not lending them money because Im a nice guy, if your profits as a business fall by 4/5ths it shows that your company is being terribly mismanaged, and as an investor, I would certainly not keep my money there either, chances are, that will be mismanaged as well (or already has been)
Bear in mind the scenario was only for a straight $5/hr increase, which in and of itself likely causes catastrophe for the company, these people also want healthcare benefits, thats going to cost FAR more per employee than a mere $5/hr increase in pay. Even at a modest 10k per employee (and that is VERY low) suddenly they are in the hole 42 billion$ Thats not just a collapse, thats a disaster.
Business owners are not, and should not be required
to pay a wage that the employee
feels they are worth especially after said employee agrees to work for an offered wage.
If the employee doesn't like working for $9/hr, then they should never have agreed to take that job, its not like they hire you THEN tell you what you will be making, keep looking for another job.
If they cant find a job making more than $9 an hour, then they need to develop a skillset that appeals to employers offering a better wage, or get a second job.