Their current philosophy is an incredibly shortsighted mistake. You make money by having a robust consumer class with plenty of disposable income to spend on things they like. If most people are barely affording essentials, there’s way less variety in where money ends up. If I’m the executive of Samsung, I want to publicly support better pay and higher taxes, because it means more people can buy my TVs and phones.
I struggle to describe the situation because it actually goes against capitalism. The rich are pursuing the option that gives them less profit and hurts the free market.