As much as I think you can't raise minimum wage indefinitely, I kind of agree with this a bit as well.

I would be in favour of some sort of mechanism that ties "Number of your employees needing additional benefits to survive" (Universal Credit in the UK) to "How much in profits you can give to shareholders". Even an annually published official list of "inadequately paying companies" would be something.

Ok great. I will stop deserving to be in business, my employees will all lose their jobs and then likely their homes, and this is considered A Good Thing. And no, they won't just go get a higher paying job because if their labor was worth that they'd have done that already.

It is not employer's responsibility to subsidize their employees poor financial decisions. It's people's own responsibility to live within their means and find higher paying jobs. It's not an employers fault that someone working part time 1 hour a week can't afford the rent on their $10k a month apartment.