Minimum Wage Employees open Walmart stores.
Sam Walton, founder of Walmart, has not opened a store in over 60 years. David Glass, current CEO of Walmart has never opened a store. S. Robson Walton, current chairman of the Board has never opened a Walmart store.
Walmart stores open around the world. They open, and some remain open 24/7 by minimum wage labor. Without the labor of minimum wage employees Walmart sells nothing, nowhere, nohow at no time. Walmart makes no money, the Walton family fortune does not exist. The $11 billion a year in corporate profits do not exist.
My point is simple. Working people create $11 billion in profits for the 1%. The 1% creates poverty for the worker. $1 an hour raise would put over $2,000 a year in the pockets of these people. The workers are also customers and thus have an additional $2,000 each to spend at Walmart.
Walmart and every other business would grow and be more profitable if they paid a fair wage. The only reason not to is greed.
Angus, fair point. On the contrary note, is it fair to investors in Walmart to not produce the best return possible? Do the demands of the Walmart employees hold greater weight than the demands of people who fund the operation? And given your answer is yes, why not raise the wage of Walmart employees by $20 an hour each? Going one step further, into which buckets to employees that hold stock option fall?
In any capacity, thanks for the thought provoking post…