I think a problem with what you said is that you are evaluating how much someone can earn in comparison to a race to the bottom with other workers. The proper comparison is how much money the business is making as a whole.
One thing to keep in mind is that the US GDP is ~20T, if everyone made an equal amount before taxes, that would be somewhere around 120k (a little more or less as workers are about half the economy).
You can see from that comparison that the level of exploitation is far higher than than you supposed.
One thing to keep in mind is that the US GDP is ~20T, if everyone made an equal amount before taxes, that would be somewhere around 120k (a little more or less as workers are about half the economy).
You can see from that comparison that the level of exploitation is far higher than than you supposed.