If you replace “cost of living” with “living wage” the mainstream opinion very much wants your salary to be the company’s business. Why this isn’t owned by some level (state, local) of government I have no idea.
My salary is already the company's business, they're paying it. What's worth fighting against is the idea that how I spend (or save) that salary, and worse how some average of how everyone independent of job and salary in a geographical area spends their money, should directly influence the salary itself.