If the minimum wage goes up, so do the goods it will purchase. Econ 101. Actually, it will hurt smaller retailers worse than WMT. Any mom and pop retailer will be hurt worse. It is ok with me if the min. wage goes up because all businesses will have to pay it. Now if they stipulate that only businesses with less than XXXXXX amount of profits, etc, then I will not be for it. It must be across the board with no exceptions.
Sentiment: Strong Buy
In the case of Walmart, it was already paying its employees well over the current minimum wage. At the time, some sources thought that the minimum wage could be raised as much as 50 percent and not cause Walmart any additional cost — its employees already made that much.
But its competitors didn’t pay wages that high. If the minimum wage rose very much, these competitors to Walmart would be forced to increase their wages. Their costs would rise. Their ability to compete with Walmart would be harmed.
In short, Walmart supported government regulation in the form of a higher minimum wage as a way to impose higher costs on its competitors. It found a way to compete outside the marketplace. And it did it while appearing noble.
Walmart knows self interest and that is a plus. for Walmart, its share holders, employees and customers.
If forced wages go up - then the price of goods go up to cover it - so what has been gained?
The uaw forces GM to pay more & more for the same low quality work and products - GM says ok and raises the price of vehicles to cover the cost - but now you can buy a quality vehicle without uaw benefits and cost..
Walmart's profits are currently artificial. Their workers are being subsidized by government aid programs. It's a loophole. Obama wants to end that loophole. You are cephalically challenged and cannot understand the most basic macroeconomic principles. My guess is you take any and all opportunities to belittle blacks, liberals and or Democrats.
I'm stupid ! You every employee 250,000 people and have to pay them near $2.00 more an hour. You want to bring inflation to seniors getting 1/2 percent interest on their savings. I am stupid because the loss with obama care could be more like $100 billion.