It's not meant to provide a living. Companies don't exist to provide jobs, jobs are a byproduct of the business, not its reason to exist. Minimum wage jobs are people with no skills who are easily replaceable, usually teenagers learning to enter the workforce.
It certainly can be, but that's not a business problem, there will always be people who failed to prepare or lacked the necessary skills to prepare for old age or people who refuse to move somewhere they can find a job. Education doesn't equal skill; jobs pay for skills, not for education; if you have skills you can find a better than minimum wage job, but you might have to move.
Those are problems for society, not for individual business owners. Those problems should be solved by taxes, not by forcing business owners to pay people more than they are worth to the business.
