Here is another version of the same argument from filthy-rich zillionaire Nick Hanauer, on why forcing companies to pay enough to live on is a good idea for the rich as well as the poor:
Memo: From Nick Hanauer
To: My Fellow Zillionaires
You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for…
This is a highly recommendable essay, if you have the time, read it!