The New York Times recently reported that, according to their survey of housing prices, a full-time worker earning minimum wage (which translates into an annual salary of $10,700) cannot afford a one-bedroom apartment anywhere in America at market rates. Heck, I doubt most people could survive half a year on that. Meanwhile, the CEO of ExxonMobile is earning 13,700 an HOUR.
Doesn't that say something about how "compassionate capitalism" is pretty much a broken system? Miminum wage needs a major boost in the arm (like, let's double it) and corporate greed needs to be reined in. Our government should be held responsible for selling out the American public to corporate America.
I keep wondering how long it can go on with the richest 1% amassing more and more of the wealth and the rest of us struggling to make ends meet. At what point will lowered wages hit the economy on the consumption side? If people can't afford the products they make and sell, at some point, profits are going to go down. Then, maybe, we'll realize that it's important to make life decent for all human beings, not just the rich, not, even, just Americans.