Answer:
As far as I know, living wage means the minimum income necessary for a worker to meet his/hers needs.
I am not in favor of this because it means that there's no extra. People work for money because they need to take care of themselves, they use the money for food, clothes, bills, etc. But people also use the money they earn from things such as entertainment purposes to medical needs. If you were to take that away from a person they would lose the motivation to work as hard or as well.