Profit is wage theft, period.

Wags theft is when you make workers clock out for meetings or make tipped staff do back of house work, misusing terms just desensitizes people to them.

Blame Reagan (again/still). The biggest cause of the discrepancy is allowing stock buybacks. It's too attractive to ceos/boards/investors to take their profits and use it to pump equity price rather than allocate it to wages and other direct investment in the company.

Fortunately, it's a pretty simple first step - ban stock buybacks

My boss requires me to be on call, without pay. That's wage theft.

Also, if you're not getting a yearly raise at least to match inflation then you're being paid less.

No it isn't.