Your post implies that a company "owes" their employee a wage that they can live on. In truth, a company owes an employee what it feels is the value of their labor and what the employee agrees to work for. If you can't make it on your salary, don't blame your employer. Maybe you should have gotten more education or a skill instead of playing video games. Maybe you shouldn't be having babies if you can't afford it. Maybe your wife should get a job. If you don't like it, quit and go find a better job. (I'm using the rhetorical "you").
I've taken pay cuts, shorter hours all the while the owners of the company lived a pretty good life. I didn't complain, I didn't begrudge the owners what they worked for. I just bided my time, kept looking for a different job and even at over 60 was able to find one that improved my salary.
As I've told many people, either do something about your situation or shut up.
As others have said, it's just not the proverbial "greedy CEOs" who have caused US manufacturing to move offshore. It's a combination of higher onshore costs due to govt regulation, countries that want to improve their economies and subsidize their industries, efficiency in transfer of goods (container ships) and technology (computerization), people who want to make $18/hr for unskilled labor and don't understand they're competing with foreign labor that have ALL contributed to the trend.
And to answer your question, I would work for whatever I could get. When I was on a short work week, I took a part-time job for 1/3 of what I was making in my regular job and was happy to do it.
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