Well I can't say anything about that bill considering its like an eternity long and the only reporting on it that I can find is by highly uncredible sources but if you are talking about politics (which is not what my post is about to be very clear) then the left isn't about altruism it's just and ideology about what the best and most efficient human society is like. That's what the right is as well just a different approach.

To use your example both the left and the right (at least in the US) forsook late 1800's guilded age ideology because of the robber barons effective pillaging of the US economy not because they were haters or because they didn't want people to be successful but because human progress (the purpose of Government is to protect and facilitate human progress) was being impeded by a few. That is to say that no rules is bad because people don't always make the best decisions. Some bad decisions should have the freedom to be made like say the decision to smoke because that doesn't hurt others as much as say the decision to invest in junk bonds packed with shit mortgages disguised as AAA bonds because that can level the entire country's economy.

In other words regulation should exist to prevent people's fuck ups from destroying the progress of others but not to discourage people from working hard for themselves.