You do realize that if small business owners PAY more in wages that they have to universally raise prices to cover the costs right?

Yes, hence why I said "I'd raise prices and figure out a way to let your customers know it is so that you can pay a living wage to your employees." Make it part of your advertising.

Small business owners are NOT rich.

It isn't black and white, there are absolutely plenty of rich small business owners.

It is NOT fixing the problem. Raising pay raises all expenses across the board.

This makes zero sense, employee wages are part of your operating expenses, but have no bearing on other operating expenses nor your overhead expenses. There are also other ways to increase wages to attract and retain employees without huge price hikes.

Either way, none of this refutes what I said above, look at this from the perspective of your employees.