Wages should be set according to the real productive value of the work done by the employee.
If a person is 'low skilled', but their labor producing large profits for their employer, then they should be well paid.
No I disagree with that even.
Because for example, the cost to opening a McDonald's store, averages around $2.5 Million dollars.
The average McDonald's store owner, has invested a million dollars of their own personal money... and they have borrowed another million and a half. And then you think that the burger flipper should paid well for what?
McDonald's stores fail all the time too. The store I worked at in high school is closed.
If that store closes, I being the owner now am $1.5 Million in debt, and I lost the $1 Million I invested... but you the burger flipper think you should be paid well? For what?
If the business fails you lost nothing. I lost millions. You will leave without any debt from the business. I'll end up with $1.5 Million in debt from the business.
You simply find another job. I end up in bankruptcy, or a lien on the house, and spending years paying bankers.
Not to mention the fact that in the event there is a problem, who do they call? You, the low-wage employee? Or me the owner of the store? You don't own the responsibility of anything. I do.
And lets not forget that the business owners and CEO, are often working 50 to 70 hours a week, while you put in 40 hours and leave.
So this idea that you should be paid tons of money for low value work.... just because it generates more wealth... no. I don't buy that at all.