Why you don't set the minimum wage to $70K

[BoFox]

Here is yet another graph of profits vs wages over a larger timescale - 1970 thru 2012

Wow, awesome graph.  Wages on a constant decline while the lazy armchair stockholders lash their proverbial whips on the poor workers, reaping the cream of the crop...  

If this keeps on, brace ourselves for the next great depression, as the $$ has to come from somewhere - the wages! 

Look at how well off the economy was during the turn of the millennium when the wages had the biggest relative surge in all of the graph above.  Most people were happy and buying homes, etc..  Wages were back above corporate profits before the 9/11 terrorism.  Largely happy and successful, positive economy times. 

What was wrong with that period?  Bill Clinton might have initiated the housing bubble, but it was a longest period of time when wages went up, for more than 6 years straight.  Happy times.  It didn't hurt the business owners.  Federal minimum wage went up from $5/hour to $7/hour during the late 90's, which didn't go up again for more than a decade later.  Corporate profits might have suffered a bit, but so what.  The economy still prospered overall.  It was a healthy economy.