The "true cost of labor" is set by the market. The cost to society of a person who can't find work because viable work opportunities have been destroyed by overregulation is unambiguously higher than that of the same person being gainfully employed, even for a "non-living" wage - because in the latter case it's easy for government to make up the difference in a way that's fair to everyone, whereas paying their full living costs is just that much harder.

Please don’t say you actually believe the talking point that if it weren’t for regulation factory jobs would come back or do you believe on the high end that tech companies are laying people off because of regulation?