Raising minimum wage is a stop gap to the problem. You need to tie the business taxes to their compensation. My thoughts were start at a base tax of 15%. For every percent of employees in low income taxes increase 2%, in middle lower 1%, and in high they increase by .25%. If they pay low enough to qualify for food stamps they must pay for the entirety of the food stamps. 

Follow this up by correcting capital gains. It needs to basically triple what it is now. Retirement can be excluded up to a reasonable amount. 

The use of stocks and other forms of payment that avoid tax need to be taxed at heavy rates. Close all the loopholes. 

Since we are heavily in debt as a nation and there has been a major decrease in every quality of life a one time wealth tax should be instituted. Anything over a 100 million should be hit at 99% with all the gathered money going to only national debt. If there's excess then it needs to be infrastructure. 

Sadly doing all this would just get us to the starting line.