> I think some businesses are going out of businesses because they stubbornly refuse to raise their wages.

I'm sure you're right. Some business owners are stubborn and don't want to offer higher pay. That said, to quote TFA:

> But in one recent survey, more than half of hospitality workers who've quit said no amount of pay would get them to return.

Paying more will get some people. But it clearly won't be enough for all, and maybe not even most.