This is so doable were it not for rather stupid, factually discredited, and self-serving republican politicians. The rich are far too rich in America. I admit that I was intrigued with supply side economics. It made so much sense to me at the time having wrestled with Nixon's wage and price control, Ford's ridiculous 'Win' buttons, the Arab oil embargo and $1 gas. Arthur Laffer the famous supply side economist and seen as the father of the Reagan economic policy WARNED that taxes on the wealthy must not go below 50%. With rates for millionaires and billionaires now at 1931 rates no wonder we took on a war without paying for it, we couldn't afford it. It was shameful that republicans refused to support an increase in the minimum wage for 10 years! In 1967 CEO's made on average 27 times that of workers and now it is over 267 times. One argument you often hear is that raising taxes on billionaires and millionaires would support America for less than a week. That is the dumbest argument and totally ignorant of economic theory. That is the snake oil republicans sell because they are all being blackmailed by Grover Norquist. These people are weak leaders, misinformed leaders, bought politicans - Jack Abramoff showed us that.
Corporations are simply not people. There is no moral allegiance to a faceless entity. The opportunity they present is one where everyone benefits, goods and services we need and want, stability of worker commitment and collective resources to support innovation. But tragically the gold watch after 30 years doesn't happen anymore. Even healthy entities see themselves through the eyes of private equity firms. The fastest way to profits became cost cutting not competition and that was the beginning of the end for manufacturing. The demise of the labor movement was bad for America. I bought into the anti-labor fever like everyone else did, and the unions did bear part of the blame. But the result was the loss of collective bargaining power, the raise you got was whatever they could get away with. The fruits of labor was no longer shared. I think the fastest way to restoration of the middle class is significant increases in the minimum wage. You bet this will cost corporations money,,,SO WHAT, they aren't people. What will happen is the bonuses will go away, CEO pay will be reduced, there will be less market speculation, less corporate involvement in the political process and entities will invest in innovation. That will excite the labor force looking for stability but also looking for challenge. Workers want a stake in the game but they know the system is rigged against them. There is no rationale for spending billions of dollars in oil and gas subsidies for example.
Make money the old fashion way, earn it. The only thing the money shell game creates is a bank account in the Cayman Islands. Republicans say the minimum wage is only a starter wage, but they refuse to tell you that 65% of people compensated at that rate is over the age of 25.
Grover Norquist is America's Blackmailer in Chief and republicans trapped by the pledge are too weak to fight for America's survival.