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Minimum Wage Debate
2014-01-09, 9:24 pm
WARNING!!!! If you know me personally, you may read my diary, but if you do, you take the chance of reading things you don't want to know, misunderstanding what I've written and being hurt by it. If you are unsure if it is okay to read, save yourself, and me, the grief and heartache, and ask first!!! Please note that this is a DIARY, I.E. my subjective feelings, hearsay, suppositions, and outpourings of ranting of the moment. It does not represent objective news, the whole of what I think of a topic or someone, or even a thought-out representation of any of the above. This I hope you keep in mind, and thank you for reading.
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Topher Allen http://www.usnews.com/.../why-walmart-can-afford-to-pay...
Why Walmart Can Afford to Pay Its Workers Much More
www.usnews.com
Two new analyses show the retail giant can afford to stop shortchanging its workers.
20 hours ago � Like � Remove Preview
Topher Allen http://www.demos.org/.../new-demos-report-shows...
New Demos Report Shows a Substantial Raise is Possible for Walmart Workers This Holiday Season |...
www.demos.org
(NEW YORK, NY) � While Walmart workers prepare for nation-wide Black Friday stri...See More
20 hours ago � Like � Remove Preview
Topher Allen http://www.uscatholic.org/.../wal-mart-number-one-maybe...
Is Wal-Mart number one? Maybe when it comes to mistreating workers
www.uscatholic.org
Is Wal-Mart number one? Maybe when it comes to mistreating workersBy Caitlyn Sch...See More
20 hours ago � Like � Remove Preview
Topher Allen http://www.marketwatch.com/investing/stock/wmt/financials
Wal-Mart Stores Inc.
www.marketwatch.com
Updated stock quote for wmt - including wmt stock price today, earnings and estimates, stock charts, news, futures and other investing data.
20 hours ago � Like � Remove Preview
Topher Allen Some light reading just to put some perspective into the equation.
But really, it looks like you're getting your "news" from Facebook and/or Fox news. Stop the outside influence!
Just be yourself, which is respectable. If you believe people just need ...See More
20 hours ago � Like
Topher Allen http://www.upworthy.com/9-out-of-10-americans-are...
9 Out Of 10 Americans Are Completely Wrong About This Mind-Blowing Fact
www.upworthy.com
Everything you've ever known is a lie.
20 hours ago � Like � Remove Preview
Topher Allen If you skip ALL that...
...at least know that customer experience and turnover would be affected resulting in higher sales and earning Walmart more respect. Eh?
20 hours ago � Edited � Like
Joseph Firebaugh Topher, with all due respect, I'm not sure what point you are trying to make here. Your financials link just confirms that the net income of Walmart is 17 billion and that they only make 4% profit on revenue. The problem with your logic that they can afford more ignores the fact that they are in the business to make money, and getting that number closer to zero makes it more likely they could have one bad year or management mistake and lose their business. Any business that operates close to break even is risky. I believe your hangup is that it's 17 billion dollars. But when looked at with the economy of scale lens, they aren't overly greedy on the profit margin. I don't know how accurate the initial post numbers are, but I don't think that your links are a slam dunk case that Walmart should increase it's COGS number on their financials.
13 hours ago � Edited � Unlike � 2
Topher Allen In my opinion, the point here is being missed. Many of you make the argument that if minimum wage tripled (with inflation, meaning we'd be living in 1968 American again), the price of products would also triple, yielding a net change of roughly 0%. HOWEVER, that assumes that minimum wage is the only thing being altered. What if we bumped up minimum wage and, instead of companies increasing prices to compensate, reduced the payroll of the CEO's who make over 380x (http://www.aflcio.org/Corporat... the amount of the average employee. I know this seems idealistic, but reducing this absurdly high wage gap (the highest in the world) is the most reasonable way to even out the distribution of wealth in America.
10 hours ago via mobile � Like
Joseph Firebaugh I don't believe we should be able to say that someone makes too much money. I know I'm a dying breed, but I believe in capitalism. But lets say for the sake of argument the CEO or the Board decides they will reduce his pay by $20 million a year. That will give 1300 employees (out of a half a million or more ---just a guess---) a $7 raise. Assuming they were the $8.75 wage earner, they now make $30k+ a year. You'll have stockers, cashiers, and other unskilled workers making as much as entry level skilled workers. The problem is, that Walmart doesn't set the value of unskilled labor. Right now the industry and economy has deemed unskilled labor worth $7 to $10. The only good reason to entertain paying more then the market price is if they can't fill positions, and that doesn't seem to be a problem. There are things about Walmart's business practices I dislike, but this topic isn't one of them. In my own words and opinion, the real evil towards those of low income is the rampant inflation -- especially in food and fuel (which is now removed from government reports on inflation). The Government's gross intervention into the free market has made the dollar less valuable. From dictating the amount of bio-fuels to be made, to printing money like there is no detriment, to what healthcare is acceptable, to high taxes, to unfair trade laws, by not producing more energy at home, to 1000's of other laws --- they have managed to dry up profitability in almost every sector of the economy.
8 hours ago � Unlike � 2
Topher Allen I appreciate your response, and for most of it, it really makes a lot of sense.
I wish I could say that I disagree with a lot of it...but I don't.
What I do have a problem with...is greed. You've surely met people who have families that don't have the credentials to get entry-level jobs where they could work their way up. These people serve you food, they stock your groceries...
What they deserve, what their kids deserve...is the same chance that kids born of the CEOs have.
We are not going to see the future...but our kids will...and our job is to help them make something of it. There will always be capitalization...movie sequels and movies based on books or tv for a built in audience (my main passion in life is film).
But when your children see that poverty is something that people experience and survive with (live with)...and they allow it...what will others think of them for allowing it?
I believe in capitalization. That's success, right? Staying successful.
But I also believe in helping others. Food stamps and welfare, right?
Well...like many of my Republican friends, even Eric, I believe in giving them the tools to help themselves. Get them off Welfare and Food Stamps. And $8.61 does not cut it.
p.s. Capitalization will always exist just the same as people who cheat the system and don't earn what they get.
7 hours ago via mobile � Like
Topher Allen Also, I'm sending a friend request, and if you don't add me, I understand, but I'm more interested in rounding out my own opinions (dunno if you post political things frequently) than arguing. I don't argue.
7 hours ago via mobile � Like
Topher Allen https://www.commondreams.org/view/2013/09/23
Add It Up: The Average American Family Pays $6,000 a Year in Subsidies to Big Business
www.commondreams.org
That's over and above our payments to the big companies for energy and food and ...See More
7 hours ago via mobile � Like � Remove Preview
Topher Allen This is a part of capitalization:
Our taxes double their profits and cut their taxes in half
7 hours ago via mobile � Like
Darrin Durkee I have no problem with CEOs making a gazillion dollars, but I believe it is Sweden that if a CEO is getting a 2% raise everyone in the company does as well the wages are tied creates incentives for people to all work and drive profits.
about an hour ago via mobile � Unlike � 1
Joseph Firebaugh Thanks Topher, I added you as a friend. That said, I rarely post political stuff unless I feel pretty strongly about it. So I doubt I'd challenge your currently held feelings or beliefs.
about an hour ago � Unlike � 1
Topher Allen http://www.youtube.com/watch?v=I97y0NboLrk
Saru Jayaraman Author of Behind The Kitchen Door on Tipped Minimum Wage on Real Time With Bill Maher
www.youtube.com
Saru Jayaraman, ROC-United Co-Director & Co-Founder and author of Behind The Kit...See More
about an hour ago � Like � Remove Preview
Topher Allen A lot of this...is philosophy.
If the economy were water...CEOs have boats with hookers on them. The middle class would still be swimming, keeping themselves from drowning, while trying to save the people drowning in poverty. The boats with CEOs with hookers on them...they're not rescue boats, but they do claim to be rescue boats.
But they're still with those hookers.
Their wives are on a beach...
Imagine a world where we're all on a beach.
about an hour ago � Like
Eric Cross I say we let capitalism be capitalism and not pervert it with governmental influences.
44 minutes ago via mobile � Like
Topher Allen You do not have to worry about capitalism going anywhere, I promise you. We can't all live like wolves of wall street, but there will always be haters of them just for being in existence.
They need to pay their taxes...I wouldn't give two sh*ts if minimum wage went up...if only they paid their fair share. No Swiss bank accounts...no cheating the system (although, they'll always do that, too).
Fair. Share.
You forget that capitalism is also the reason minimum wage didn't rise with inflation.
That's not good business.
Let Walmart go OUT of business...and lets see what good businesses, with less employees and more passion, do to strive in an economy worth striving in. Give us a business worth spending our money at.
See the world change.
16 minutes ago � Like
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