Walmart raising wages to 13.63/hr would cost them...

[HawaiiXT_290x]

To increase prices by 1.4%.  So basically they could probably eat the cost and people could actually make a livable wage?  You could put 2 parents working at Walmart and effectively make about 50-60k/year which is enough to raise a family.  An interesting study was done a few months ago and wages have no scaled with inflation.

 

1974 costs/wages

Big Mac: $0.40

Gas/Gal: $0.40-0.50

Milk/Gal: $0.30

1974 Camaro (Base): $2,900

4 bedroom house: $35,000

Min wage: $2/hr

Entry level positions: $10-12k/year

 

2014 costs/wages

Big Mac: $4.00

Gas/Gal: $4.00

Milk/Gal: $3.25

1974 Camaro (Base): $26,000

4 bedroom house: $220,000

Min wage: $7.25/hr

Entry level positions: $30-36k/year

 

So while everything has gone up between 6 to 10 times in costs, min wage has increased by 3.5 times and entry level positions only pay 2.5 times more. Most college graduates including myself are only getting 36k/year starting.  And I have 2 degree's 2 years of management experience and have worked since age 14.  How have companies afforded to raise prices by so much but cannot afford fair wages?  Guess what, they can afford it but choose not to!

Source: http://thinkprogress.org/economy/2014/04/11/3425609/walmart-prices-food-stamps/

[DarrenP]

Minimum wage is going up in Ontario in June. very excited for this. Student minimum wage is going from 9.60 to 10.30, and Adult minimum wage is going up to 11.00 from 10.25. Good to see the government here is standing up! 

[Jogostar]

meanwhile in Switzerland we're voting for 25$/h...

[DarrenP]

meanwhile in Switzerland we're voting for 25$/h...

Bye mum. I'm moving to Switzerland. 

[tharvey]

every time I hear this it pisses me off.  I can't wait to move to Canada.  Healthcare, fair wages and snow... I'm on my way.   I don't know if the American government will ever start acting on behalf of the people instead of large corporations.

[jezza39]

To increase prices by 1.4%.  So basically they could probably eat the cost and people could actually make a livable wage? 

 

So while everything has gone up between 6 to 10 times in costs, min wage has increased by 3.5 times and entry level positions only pay 2.5 times more. Most college graduates including myself are only getting 36k/year starting.  And I have 2 degree's 2 years of management experience and have worked since age 14.  How have companies afforded to raise prices by so much but cannot afford fair wages?  Guess what, they can afford it but choose not to!

Source: http://thinkprogress.org/economy/2014/04/11/3425609/walmart-prices-food-stamps/

 

Because that's not how capitalism works. These companies are governed by the shareholders. 

 

Also, what's to say that raising prices by 1.4% doesn't cause a loss of 5% in sales?

 

If you want fair wages (which you do), form a union and pressure head management and the government for fair wages. When I worked in a supermarket there was a huge union the helped the workers in retail gain decent wages.

[Fred Castellum]

There was this huge minimum wage thread on the forums a couple of months ago. 

 

Unfortunately people often fail to calculate inflation... on top of that companies only go up in stock value from good quarterly/annual profits. If Walmarts profits were reported to be lower next quarter then you can expect a stock value drop almost immediately. 

[Fred Castellum]

Because that's not how capitalism works. These companies are governed by the shareholders. 

 

Also, what's to say that raising prices by 1.4% doesn't cause a loss of 5% in sales?

 

If you want fair wages (which you do), form a union and pressure head management and the government for fair wages. When I worked in a supermarket there was a huge union the helped the workers in retail gain decent wages.

Yup.. and upon hearing the news shareholders would bail because short term profits are gone... and long term positions would start to falter depending on how much the stock value dropped. 

[HawaiiXT_290x]

Yup.. and upon hearing the news shareholders would bail because short term profits are gone... and long term positions would start to falter depending on how much the stock value dropped. 

See since the rich (top 0.5%), own 60% of all the stocks, it's more attached to corporate greed.  You have to please the stock holders, but those stockholders are the rich corporate executives.  So the rich pleasing the rich.

[Fred Castellum]

See since the rich (top 0.5%), own 60% of all the stocks, it's more attached to corporate greed.  You have to please the stock holders, but those stockholders are the rich corporate executives.  So the rich pleasing the rich.

Do you know how destructive to a company it would be if their share prices dropped 30%? And it wouldn't just be limited to that company, Walmart can effect other retailers too... calculated profit margin vs competitors doesn't always mean if walmart goes down other retailers will go up... 

 

Don't speak as if the rich are evil... the market has no feelings, businesses don't wait for you. Economics is brutal. 

[HawaiiXT_290x]

Do you know how destructive to a company it would be if their share prices dropped 30%? And it wouldn't just be limited to that company, Walmart can effect other retailers too... calculated profit margin vs competitors doesn't always mean if walmart goes down other retailers will go up... 

 

Don't speak as if the rich are evil... the market has no feelings, businesses don't wait for you. Economics is brutal. 

This will open your eyes: 

 

The Top 0.5% dictates our lives, the market, our jobs and prices.  Because they have a hold on everything, the rest of the country suffers.  They decided that their pocket books were more important than the blue collar workers that made them their fortune.  So as their profits increased and as prices increased they kept wages steady.  Also, if the wages increased, the amount of social security recipients under the age of 62 and welfare recipients will drop drastically.  working min wage nets 15k a year, where welfare gives housing, food and 5-6k a year why work?  But if you can make 30k a year they won't be on assistance.

[Fred Castellum]

This will open your eyes:

 

The Top 0.5% dictates our lives, the market, our jobs and prices.  Because they have a hold on everything, the rest of the country suffers.  They decided that their pocket books were more important than the blue collar workers that made them their fortune.  So as their profits increased and as prices increased they kept wages steady.  Also, if the wages increased, the amount of social security recipients under the age of 62 and welfare recipients will drop drastically.  working min wage nets 15k a year, where welfare gives housing, food and 5-6k a year why work?  But if you can make 30k a year they won't be on assistance.

Lol open my eyes? I've already seen the video....

 

Full debate video:

 

Watch this too: 

 

Sure the people who have tons of money have tons of control on our economy, and continue to have it because they have tons of money and are able to quote on quote buy politicians to pass laws and regulations that make it easier for them to continue to have market control. Going after the companies aren't going to fix the problem, you have to go after the government who is enabling this by making it so the government can't pass laws and regulations on the behalf of companies for their "mutual benefit" crap. 

 

Do you know how many of these income hindering laws and regulations are actually suggest by "political economists" and then voted in by the masses by people who don't fully understand? 

 

I work in economics, I envelop myself in it... I spend hours upon hours of open research. Heck I'm watching my holdings on the stock market right now as I type this.  

[HawaiiXT_290x]

 

Sure the people who have tons of money have tons of control on our economy, and continue to have it because they have tons of money and are able to quote on quote buy politicians to pass laws and regulations that make it easier for them to continue to have market control. Going after the companies aren't going to fix the problem, you have to go after the government who is enabling this by making it so the government can't pass laws and regulations on the behalf of companies for their "mutual benefit" crap. 

 

Do you know how many of these income hindering laws and regulations are actually suggest by "political economists" and then voted in by the masses by people who don't fully understand? 

 

I work in economics, I envelop myself in it... I spend hours upon hours of open research. Heck I'm watching my holdings on the stock market right now as I type this.  

 

Oh I know, but the problem is the government is not out there to protect us.  There are 2 sides to government.

Republicans:  Want the rich to rule, IE the top 1% and the rest of the 99% work for pocket change and barely get by

Democrats:  Want a small group to rule and have the entire country rely on them to live on pocket change.

 

Both concepts have a small % rule while the rest suffer, only difference is the republicans want the rich to rule where democrats want a small government to rule.

[Suika]

Last I heard, it wasn't mandatory for you to work there.

[HawaiiXT_290x]

Last I heard, it wasn't mandatory for you to work there.

It's the general idea.  Why inflation has caused prices to increase by 6-10 times but wages only fraction of that.

[Fred Castellum]

Oh I know, but the problem is the government is not out there to protect us.  There are 2 sides to government.

Republicans:  Want the rich to rule, IE the top 1% and the rest of the 99% work for pocket change and barely get by

Democrats:  Want a small group to rule and have the entire country rely on them to live on pocket change.

 

Both concepts have a small % rule while the rest suffer, only difference is the republicans want the rich to rule where democrats want a small government to rule.

I never said the government was there to protect us... 

 

I'm saying we should be targeting the government, not individual companies.... targeting individual companies isn't going to solve all the problems... once your attention on them disappears they can just slowly change back to their original set up.

 

Unfortunately most "citizens" don't know shit about politics... they just hear republican and democrat and say oh yeah I support "that" side. Their not educated about it and are too lazy to be educated about it because they don't give a dam half the time... 

[Fred Castellum]

Here this one is short and informative

 

[Mooshi]

You think that's bad? My home state lacks a backbone when it comes to minimum wage. In the state of Texas, instead of trying to be a positive example, my state lazily goes off whatever the federal minimum wage is ($7.25 last I checked)

 

Don't mind me...I'd rather Texas cut ties with the US government and become independent again. We're already the size of a country and with that oil staying in our borders, our wages should go up several fold. Screw you, cheap ass federal government.

[ConfusedDolphin]

I think if the government took less of the money people earn (income tax) and made it cheaper to hire people (employers tax) then more people would be better off that if you just forced companies to pay more. If businesses were forced to pay low level employees then the cost up the products they are selling would go up or larger companies like Walmart would just take the hit to profit margin keep prices low making it even harder for smaller stores to compete. Government should stay out of the free market.  

[Mooshi]

I think if the government took less of the money people earn (income tax) and made it cheaper to hire people (employers tax) then more people would be better off that if you just forced companies to pay more. If businesses were forced to pay low level employees then the cost up the products they are selling would go up or larger companies like Walmart would just take the hit to profit margin keep prices low making it even harder for smaller stores to compete. Government should stay out of the free market.  

 

There is no "free market" in America anymore. Lobbyists and bought politicians control everything. Even the supreme court lost all shreds of dignity by being bought out. So long as corporations and politicians are in bed together, this is how things are in my country. The US is way too content with importing cheap shit from China and shafting the American worker with wages that don't match inflation.

[ConfusedDolphin]

There is no "free market" in America anymore. Lobbyists and bought politicians control everything. Even the supreme court lost all shreds of dignity by being bought out.

Your right there is no free market, the instant the government got involved with the currency and the market it stopped being free. My phrasing was a bit cloudy though. 

[Fred Castellum]

Your right there is no free market, the instant the government got involved with the currency and the market it stopped being free. My phrasing was a bit cloudy though. 

Sigh... we currently have Crony Capitalism... 

[ConfusedDolphin]

Sigh... we currently have Crony Capitalism... 

Indeed 

[Mooshi]

It seems nigh impossible to get logical sense back in our government at this point.

[KeltonDSMer]

They limit the number of hours the normal workers have every week in order to avoid providing benefits, healthcare, etc.

 

Please do not shop there, or Sam's Club (also Wal Mart).

 

That is all.

 

Edit: Removed incorrect info about Wal Mart