I'm local and know A LOT of cast members. I'm sure about it. Someone who works in merchandise or attractions, for example, for 20 years, is getting the same pay as someone hired right off the streets. $15/hr. There are no annual pay increases.
Adding too, as a local, that Disney has lost cast members to other employers such as Starbucks, Joffrey's simply because of pay. People come to Disney and pay thousands of dollars and expect magic, when the reality is that Disney is paying the same as the local Portillo's, and no one is expecting a magical experience at Starbucks or Portillo's. So some can discuss whether it's Disney's job to concern themselves about cost of living, etc. In the end, no, it's not. They can continue to charge whatever they want and people will continue paying for it. And they'll continue having cast members who could find a better job at McDonald's and then people will be upset that they're getting a less than magical experience. In the end it hurts Disney to not pay well.