From CBS News:
Main Street pay hike threatens Wall Street profits
But there’s a downside: U.S. labor costs now constitute more than 10 percent of the revenues of S&P 500 companies, representing a large headwind to profitability.
This is why we’re all not on the same side. Companies don’t want to pay you, that’s one of their high priorities. They don’t want to pay taxes either, they just want all the money for themselves and their shareholders.