but at the same time work on a plan to replace them.

And this is why I would never ask for a pittance of a raise. It has no certain benefits, very few potential benefits, and can immediately mark one for death in an organization.

As an individual: it's too easy to take away all of your power and leave, netting higher compensation and likely a better environment (potentially one where a raise needn't be asked for!).

And then from that point it's even easier to take your former team with you, resulting in healthy referral bonuses (Good luck proving solicitation).

This isn't a good market for a procurer of software labor: this kind of "replace em!" management attitude is only self-defeating.