I think that raising the minimum wage would just create more of a mess. What needs to be done is to lower tha maximum wage. If the maximum wage was lowered everything would eventually solve itself. And because there are more of us than there are of them, and the US is a Democracy where the majority rules, the concept is doable.
And I suppose that we could hire Mr. Revolt as a consultant on what to do with the extra money. With a cap on his wage of course.
I'm not seeing how this would work better than a minimum wage hike. If you raise minimum wage, the poor and middle class have more money to spend. Because most of their money gets pumped right back into the economy-- since they need most, if not all, of it to get basic life services-- this spurs the economy.
A cap on wages, while it would be useful in conjunction to a minimum wage hike, would not necessarily see that extra money being put into middle class pockets, which is where it needs to be.