Record profits indicate that large employers don't need to pay more because there is an over abundance of cheap labor. Businesses do not exist to hire people that they don't need at wages that are higher than they need to pay. The hard truth is that technology has reduced the need for labor. That combined with an influx of cheap labor and outsourcing all with the blessing of the government, Democrats and Republicans alike, has combined to reduce the demand for labor. Increased supply and decreased demand equals lower prices.Record profits indicates that many large employers can afford to pay much higher wages and benefits, but chose instead to have outrageous pay for their CEOs and other executives. Sounds like selfish, greedy people at the top using any excuse they can.
I agree that there should be some control on executive pay to prevent people from being paid millions of dollars while the company is laying off workers and losing money but that will not do anything to increase the wages of the low skilled worker. Only reducing the number of low skilled workers can do that. The simplest and most cost effective way to do that is by enforcing immigration laws. The result will be fewer low skill workers and higher education rates among our young people due to the reduced burden on our educational system.