Conservatives answer this question: wages in the lower classes have remained stagnant for DECADES. What is the incentive for businesses to pay more if they can maximize their profits by keeping wages low? Corporate profits are already at an an all time high.
The ONLY way to boost wages for the poor is by raising the minimum wage. History has shown this to be true. More socialization in our private economy is the only way to save the middle class and keep the poor class from expanding. Eventually, the top heavy economy will cause a collapse from a lack of sufficient consumer spending.
Do I want to end the private market? Of course not. I just understand the need for government intervention and regulation.
End illegal immigration which creates a secondary wage system and you will see wages increase as employers can't find workers to do the jobs. It's as simple as that.