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

[BoFox]

If so, how do your attorneys and accountants like making the same money as your mail room people and janitors? Are they "good team players" and saying, "Seems fair to me I had to spend years of my life and $100,000 on my college degree and Bubba makes the same money as I do. Bubba needs money too, and we're all on the same team!"

Traditional American capitalist approach: 
Sam:  "I spent $10 million on purchasing vast land prime for cotton crops, and borrowed another $5 million for building a massive plantation along with shelters for the "workers" that are to be fed, clothed, and supervised by the few hired workers paid 2x the minimum wage.  So I deserve the merciful fruits of labor, especially considering the risk of investment.. and all the silverware, ivory tusks, cruises around the world on the Titanic, safari trips in Africa, etc..  All other stupid workers should never be given education or any opportunity to lessen my financial gains for my own children, grandchildren, and their grandchildren.  Hence, college education should never be free or paid by our taxes - only those already in power should be able to sustain the grip on power through their own heritage."

That's America, after all.  Returning the Jews to their newly formed nation, but not even bothering with giving the original lands back to the Native Americans.  Freedom and Equality for All, all an illusion that only the richest able to afford the best lawyers could hope of fighting for in legal terms (or risk getting thown in jail or assassinated like MLK Jr.). 

Just look at the Walton family (the "Walmart" family).  How do you think the oil business guys ever got up there in the first place, in terms of multi-millionaire corporate status?  Family.  A few crazy, rare workaholics (like Oprah) might be able to climb the corporate ladder outside of "familial heritage", but it still seems like heritage still runs strong in America's veins - actually superseding the "land of opportunity" romanticism that we all would love to believe in. 

College loans do not do justice to most low-income students - those who are able to qualify for loans with good standings only put further burden on the government as most of them are now unable to pay off the loans as tuition costs became even more outrageous these days (along with the wages going down and down...).  Way to go, American "capitalists", hard at work on bankrupting the government..  when they could just pay the tax themselves for free college education for all, so that America prospers as a whole in the future.