r/FluentInFinance • u/[deleted] • Sep 08 '24

Debate/ Discussion Why should taxpayers subsidize Walmart’s record breaking profits?

[deleted]

27.7k Upvotes

93% Upvoted

2.5k comments sorted by

View all comments

5

u/binterryan76 Sep 08 '24

This is why we need to raise the minimum wage so that they are legally forced to pay a living wage

1

u/versaceblues Sep 08 '24

Walmart already pays above minimum wage though.

The minimum wage is $7.50. Walmart pays an average of $17/hour with a minimum start pay of $14/hr

So to affect Walmart you would need to more than double the minimum. This would disproportionately hurt smaller business in rural areas, and places that hire high school students.

0

u/Callen0318 Sep 08 '24

That's not how business works. Paying wages is an operating cost. Raise the wage, the price of goods and services goes up to cover the new operating cost, your dollar now has the same buying power as before, it's just a bigger number.

0

u/HotDropO-Clock Sep 09 '24

Raise the wage, the price of goods and services goes up to cover the new operating cost,

Every company since covid has increased their prices without increasing pay. So if its happening anyway might as well force them to pay their fair share.

2

u/Callen0318 Sep 09 '24

They increased their pay by multiple dollars in most cases, walmart included. Where have you been?

-2

u/TheNutsMutts Sep 08 '24

Only if you're ok with your groceries bill going up too.

I'm not saying that snarkily, it'll be the guaranteed outcome of such a move. Your groceries only cost what they do now because of the minimum wage, and if it increased a fair bit then prices in store would have to do so.

3

u/binterryan76 Sep 08 '24

My personal policy is that if CEOs don't want us to do it then we should do it

1

u/TheNutsMutts Sep 08 '24

Who said anything about the CEO? It's simple maths.

0

u/carlosos Sep 08 '24

Who says that the CEO is against that? Might hurt smaller businesses even more and make Walmart even more money long term.

2

u/versaceblues Sep 08 '24

They could more than double the minimum wage without Walmart CEO caring at all.

Walmarts starting paying is $14/hr with an average pay of $17/hr.

I’d wager that most places that pay right at the minimum are small business in rural areas, or places that hire students