> The simple fact is that an adult needs X amount of money to be able to live with roommates, eat, drive their car to your job, etc.
Sure. Let's pay everyone $50 an hour then?
Do you understand how ridiculous it is to base a minimum wage on what an adult needs to live with roommates?
It's a need. Of course it is a need. However, forcing a minimum wage isn't the solution at all. If it were, we could "fix it" by paying everyone $20, $30, $50, $500 per hour. Anyone but a complete moron can easily understand what happens if we set a minimum wage of $100 per hour. EVERY JOB THAT CAN BE EXPORTED WILL BE EXPORTED.
For everything else, inflation will absolutely explode. Which means that your $100 per hour won't buy you anything except for everything made in China (which will have higher prices because the Chinese are not stupid and will raise their prices to make more money). Home will cost 10x more and cars will double or triple in price. So, the $100 per hour quickly turns into a real $10 per hour. All we've done is play with numbers to create funny money. The ONLY ONES who benefit are the Chinese because they are doing everything they have to do in order to grow their economy and become the dominant economy in the world for the next 200 years.
That's the game and the stakes. People are allowing politicians to run us into the ground (or below it).
Your "simple economics" isn't real economics. It's wishful thinking. In the real world, with a globally integrated economy, a job and a standard of living can only exist in the context of where goods and services can be delivered more effectively.
This isn't even about greed. Anyone who has migrated work to China and other shores understands this very well. Only the ignorant equate this to greed. The truth of the matter is that market forces push pricing down. Since you won't pay more than $99 for a blender, everyone has to make them in China and margins are narrow. Nobody is making 300% margins because they went to China. If they do, those margins will collapse very quickly as competitors move their ops to China and push pricing down. That's economic reality. Like it or not.
Try to make something not-trivial in the US or Europe and see what happens. Most people would be horrified by the reality those of us in manufacturing understand all too well. Ignorance is bliss, as they say.