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It's interesting that the top 5 countries, Denmark, Switzerland, Iceland, Norway and Finland, on the "Happiest Countries" list do not have government mandated minimum wages. Rather the total wage structures are set by negotiation with individual trade unions within a discipline, and they do vary by locale and type of industry. They also all have high overall taxes and there are no issues with providing care for seniors.
With a proper progressive taxation system that makes the super rich pay a higher percentage of the costs of living in our society, the issue of specifically targeting the 1 percent would be moot. Furthermore, if a larger percentage of our tax base was spent on society's needs rather than the military industrial complex, we would be more egalitarian with less inequality. Instead our society has reverted to finger pointing at each other or blaming government.
Social security in the United States was never conceived as a full "retirement pension fund". From it's earliest days it was an "insurance program" that provided a basic level of subsistence to those who for whatever circumstances lost whatever savings they had. The premise was that it would augment personal savings and not be a substitute for personal savings.
As my wife and I both draw social security benefits, I would say our life styles would be severely curtailed if we had not saved frugally over our working years. I have less sympathy for those Americans who were undisciplined during their working careers and did not put aside enough money in personal retirement funds, whether it be corporate plans, 401ks, IRAs, or just stocks, bonds and property. Life is about the personal choices people make during their lifetime, including taking personal responsibility.
Having said that, I would make some kind of exceptions for those who, for medical reasons or other reasons beyond their control, have to dip deeply into their life savings. People should not have to lose their entire personal savings for treating medical conditions.