In this article on CNN, Wal-Mart’s CEO calls for Congress to raise minimum wage from it’s current value of $5.15. Later in the article his reasoning is quoted as being that walmart shoppers do not have enough money to buy basic necessities between paychecks.
It rankles me that a CEO would go whining to Congress about wages, instead of just taking a leadership/grassroots approach and raising Wal-mart employee wages by whatever amount they feel is fair. That would actually have a number of benefits. It would increase goodwill to them from their employees. It would likely trickle out to other employers, encouraging them to similarly increase wage.
This tactic, on the other hand, is completely disingenuous. Wal-mart buys a majority of the goods it sells from China. This means that their costs will be relatively unaffected by a minumum wage increase. If Joe Random Consumer in America has slightly more spending cash due to Congress raising minimum wage, however, then Walmart stands to make a tidy profit off the change. (The assumption here being that a large percentage of Wal-mart shoppers are minimum wage workers. Feel free to correct me on this point if you feel it’s not true)
In short, I find this announcement to be less than forthright, and very slimy.
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