Quote:
Originally Posted by Tokinouta
IDK, I like paying extra taxes so Walmart can keep low paid workers. Walmart pays them and they can buy some food and pay for electricity and I pay them so they can afford section 8 housing. Why not.
Why would I want Walmart to pay a living wage??? I'll take care of it, I make plenty of money. If I were to demand they paid a living wage we wouldn't have so many mega Walmarts.  So sad. |
Remember Ronald Reed of Vermont? This was the former low wage janitor who, unbeknown to anyone, managed to amass an $8 million stock portfoilo and left it mostly to the local library.
He could have made life choices that would have resulted in a life of poverty. Instead, he chose to live a life well within his meager earnings and instead used his surplus to buy and hold stocks for the long term.
Why should any employer be expected to pay more than a competitive wage to subsidize employee choices?
Back to Walmart...
With much fanfare, after the big announcement of corporate tax cuts, Walmart announced:
An increase to its starting entry- level wage for unskilled workers to $11/ hr., 47% higher than the Federal Minimum Wage. There are more than 3000 local economies in the US. $11/hr goes much further in some local economies than others.
A one time bonus up to $10000 for eligible retail employees.
The intent to do a $20 billion stock buy back to goose shareholder value- you know, the people, including employees, who own a percentage of the company.
Closure of 63 chronically unprofitable Sam’s Clubs across 24 states and the elimination of 10,000 retail jobs.
Let’s look at the back story.
Walmart had been steadily increasing the starting entry- level wage as the overall economy recovered from the Great Depression and did so to remain competitive. It also previously paid one time bonuses to eligible retail employees.
Walmart, like many retailers, has tended to saturate markets to the point branded stores often compete with the same branded stores in some markets. I am 10 minutes away from 2 Walmart’s. Then again, I am within 10 minutes of a Costco, 2 Targets, a Kohl’s, 2 Home Depot’s, 5 major grocers, hundreds of other branded and independent grocers and retailers and hundreds of restaurants.
I paid $1.69 for a gallon of milk, .49 for a dozen lg eggs, $3.75 for a pound of Oscar Mayor bacon, $2.99 for a pound of 90% ground sirloin and $2 for a heavy Black Diamond seedless watermelon, yesterday. I rarely shop Walmart.
If I were just starting out with no marketable skills and just a high school diploma, I would not hesitate to seriously consider Walmart for an employment opportunity. Instead of spending my time blamethrowing at my employer for not paying a “ living wage” my goal would be to work my butt off to become the general manager of my store, then the region and then HQ.
My responsibility in the interim would be to live within my wage and avoid lousy decisions that would be contrary to that wage.
I don’t attribute or blame government for my personal outcomes.
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