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Walmart Gives 500,000 Workers A Raise

I hope they raise their prices accordingly now to offset the increased payroll expenses.
 
That should save some tax money as fewer employees will be eligible for government subsidies.

I wonder how many of them work enough hours to be eligible for employer paid health insurance?

So we can expect to pay lower taxes now that WalMart's done this?
 
You have no idea what you're talking about.

walmart has been under public pressure and a large union organizing drive for some time due to their pay abuses and employees having to file for public assistance - as suggested by walmart. walmart has cracked under the pressure and is being jerked into reality. So good for the organizing drive.

Made up narratives about ' abuse " is not the same as abuse.

You people need to realize that your agenda driven exagerations are not based in reality.
 
How much more? Where is the bottom line for 2015? What would be the correct no high school degree entry level job hourly wage be?

There are no entry level jobs any more. Just jobs. Mostly part- time or zero-hours contracts. Welcome to the post bankster-crash economy.
 
There are no entry level jobs any more. Just jobs. Mostly part- time or zero-hours contracts. Welcome to the post bankster-crash economy.

I was a waiter and then a bartender through college. Prior to that, I was a cashier. Those are entry level jobs.

I work in a industry that is filled with entry level jobs. Construction.
 
This won't take anyone off government subsidies and it won't satisfy the unions.

Sure it will, it may very well eliminate or reduce means tested benefits (particularly the earned income tax credit) for some who work at Walmart as a second job, or for families with more than one income.
 
I was a waiter and then a bartender through college. Prior to that, I was a cashier. Those are entry level jobs.

I work in a industry that is filled with entry level jobs. Construction.

That was history. Today, a job is a job, even with no guarantee of any hours. The much-vaunted reduction in unemployment in Britain, almost exactly matches the rise in zero-hours contracts. A new full-time job is a rarity.
 
That was history. Today, a job is a job, even with no guarantee of any hours. The much-vaunted reduction in unemployment in Britain, almost exactly matches the rise in zero-hours contracts. A new full-time job is a rarity.

I am not experiencing that here in CT. My company has a factory here with a largely undegreed work force. Full time, benefits and a decent wage with bonuses.
 
That was history. Today, a job is a job, even with no guarantee of any hours. The much-vaunted reduction in unemployment in Britain, almost exactly matches the rise in zero-hours contracts. A new full-time job is a rarity.
I believe you are mostly correct.
And what would you say is the reason for that?
 
How does price effect demand?

Does a low-income worker consume more? or less in government subsidies?

A low income worker obviously consumes more in government subsidies, hence, giving low wage workers a raise should lower the amount of government subsidies.

Shouldn't it?
 
most of that $ will stay right there in the store. A good decision, even if not done out of goodwill.
 
Not. They raised wages. Not in concert with the idea.

Uh, no. walmart capitulated to the pressure and git jerked into the real world. This will only be good for walmart in the long run.
 
A low income worker obviously consumes more in government subsidies, hence, giving low wage workers a raise should lower the amount of government subsidies.

Shouldn't it?

Than one who is unemployed?
 
Than one who is unemployed?

No, but we aren't talking about unemployed people are we? And Walmart didn't just announce a massive layoff did they?

But nice strawman.
 
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So we can expect to pay lower taxes now that WalMart's done this?

You could expect that if I was in charge, but that's probably not realistic as long as republicans control congress. Republicans only cut taxes after increasing spending, not decreasing spending (ie Reagan, W Bush).
 
I hope they raise their prices accordingly now to offset the increased payroll expenses.

They might decide to do that, or they might decide to keep competing with other retailers for customers based upon price. I suspect that they will decide to stay price competitive so that their bottom line doesn't fall.

There is really little connection between operating costs and end price, other than the operating cost creates a floor price. Companies typically don't price goods at the floor price because that would prohibit a profit. Generally companies price goods at what they feel is the profit maximizing price.

I see no reason why Walmart would chose to recoup the cost by increasing their price above the profit maximizing price, as that would necessarily result in lower profits, which of course would defeat the purpose.

But thanks for allowing me to give you my short version of my lecture on price theory.
 
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They might decide to do that, or they might decide to keep competing with other retailers for customers based upon price. I suspect that they will decide to stay price competitive so that their bottom line doesn't fall.

didn't they make like $18B in profit a year ago?
 
I am not experiencing that here in CT. My company has a factory here with a largely undegreed work force. Full time, benefits and a decent wage with bonuses.

regardless of what you experience, most new jobs are part time, not full time..
 
They might decide to do that, or they might decide to keep competing with other retailers for customers based upon price. I suspect that they will decide to stay price competitive so that their bottom line doesn't fall.

There is really little connection between operating costs and end price, other than the operating cost creates a floor price. Companies typically don't price goods at the floor price because that would prohibit a profit. Generally companies price goods at what they feel is the profit maximizing price.

I see no reason why Walmart would chose to recoup the cost by increasing their price above the profit maximizing price, as that would necessarily result in lower profits, which of course would defeat the purpose.

But thanks for allowing me to give you my short version of my lecture on price theory.

Right wingers have faith in the absurd notion that business are keeping prices low and so they believe businesses can raise prices at will. Rational people know that businesses already are pricing their products at the level which produces the most profit.
 
didn't they make like $18B in profit a year ago?

I dunno, but that sounds like a lot of money to me. Regardless, I'm sure that they strive to price at what they believe to be their profit maximizing price. Price and cost aren't really closely related, other than to establish a floor price, and when companies have very large profits, it would seem to me that they have probably done a good job of determining the profit maximizing price, so they would have little reason to increase or to reduce price based upon operating costs since operating costs have nothing to do with selecting the profit maximizing price.
 
Both on line and through ABC news we learn that walmart has capitulated:


Walmart Gives 500,000 Workers A Raise


For some time in these discussions about walmart abuses and organizing drives I predicted that the pressure would defeat them. Within a year the starting wage at walmart will be $10 an hour. This will of course increase the strength of the organizing drive and have a good effect on the drives for Mcdonald's as well.

Nice work.

Ah! Now I know why the self-check out areas at the local Walmarts have been doubled lately. And why fewer checkout lanes have been being maned.
 
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