What are your suggestions to "build up the bottom"?
Top and bottom are relative terms. If the top continues to rise at a rate equal to the bottom then nothing is gained. If the top rises faster, ground is lost.
All societies need ditch diggers. We need teachers, cooks, cashiers, etc. If everyone had a Harvard education that would still be the case.
We can only use so many doctors, lawyers, accountants, engineers...somebody is going to be stuck digging the ditches.
How did being CEO go from being worth 25 times the average worker's wages to more than 400 times those wages?...at a time that those workers productivity skyrocketed? It is because the the elite club decided that they would take it. They control the distribution of profits and they've decided that they deserve a larger share and they have the power to take that bigger piece of the pie.
It's kind of hard to "build up the bottom" without cooperation from the top. The pie is only so large.
Stockholders value CEO's that generate profits. It only makes sense to exponentially increase the salary of a CEO who can maximize worker productivity while reducing costs. About 20 years ago, I heard a debate on radio about a guy considered to be a very successful CEO...he had raised profits by cutting 10K jobs or so. Got a big raise. If you hold stock in that company, would you value that CEO? If that stock was a big chunk of your retirement portfolio, what would you think about that guy.
The debate had to do with social responsibility vs serving stockholders.
In my former profession, we operated on a salary schedule. Raises usually around 4% a year. Over time , due to nothing more than compounding interest, the guy starting with the $75K job his salary started to get significantly larger than a person that started with a $30K job. Nothing nefarious, just compounding.
I agree, we need people to do all types of work. My wife picked up a part-time "retirement" job working in a daycare. She works only with babies. I went to an outing with her one evening and was amazed at how the young mothers made over my wife. It occurred to me how much they valued having a good, mature person caring for their babies. She makes $7 an hour.
What's gotten out of whack is that jobs like hers and others are essential/important jobs. We've decided that some are more deserving of more money than others. I love capitalism, but that is a flaw in the system. To the mothers leaving babes with my wife, her services are just as important as the CEO of a Fortune 500 company. We need people like her just as much as we need company managers, lawyers, teachers. I don't know the answer, but I'm not a supporter of taking money from the wealthy...that's stealing. At the same time, IMO, people that perform valuable services to society should be paid enough to live reasonably secure financially. You smart guys have to figure out how to do it.