"Let me ask you something... If you start a new business, and let's say you take out a huge loan to pay your startup expenses, and you have a huge pool of qualified workers fighting to work for you for 10 dollars per hour, are you going to pay them any more? Knowing full well that that's a shitty wage, but that if you pay them any more you might go out of business and have a huge debt burden... Or do you pay them 20 dollars per hour out of generosity, and risk going bankrupt, with repercussions that could follow you for years?"
This calculus does not apply at all to the companies currently turning record profits. That's not to say that there's necessarily no important reason those companies should be choosing to keep their profits high as opposed to paying out higher salaries, but this manifestly isn't it.
This calculus does not apply at all to the companies currently turning record profits. That's not to say that there's necessarily no important reason those companies should be choosing to keep their profits high as opposed to paying out higher salaries, but this manifestly isn't it.