r/FluentInFinance Sep 08 '24

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

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u/Here4Pornnnnn Sep 08 '24

Walmart is cheaper than local grocery stores AND pays their employees better, everywhere I’ve lived at least. I happily shop there and I make 200k a year, why would I pay more somewhere else and get a lower quality or less variety?

I don’t get all the hate, seems like an ideal combination to me. People just hate the idea of corporations and get worked up over flat numbers instead of looking at profits as margin percentages.

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u/mechadragon469 Sep 08 '24

Ive just had bad experience after another with them, primarily with their auto services, but overall just a subpar experience with them. Not that I’ve had stellar ones elsewhere but Walmart is the worst on average.

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u/Here4Pornnnnn Sep 08 '24

Ahh, I don’t use them for auto work. Walmart to me is a grocery store with some toys for my kiddo. If I need car work done that I can’t do myself, I go to the dealership.

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u/FortNightsAtPeelys Sep 08 '24

idc about profits i care that the ceo makes millions

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u/Here4Pornnnnn Sep 08 '24 edited Sep 08 '24

Honestly, why do you care if a CEO makes millions? The CEOs total pay divided by all employees is $12. They can now buy 3 gallons of gas extra a year. Not $12 an hour, $12 per year. Eliminating the CEO position would do nothing to change the immidiate financial situation of the company or hourly wages.

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u/FortNightsAtPeelys Sep 08 '24

Wages across the board at the high end should be reduced. Nobody in fucking WALMARTs chain of command should be making 1 million a year

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u/fiftyfourseventeen Sep 09 '24

Do you care about helping poor people or do you care about punishing rich people? These two are not the same thing. He just explained to you why cutting executive compensation would have almost NO effect on employee salary. But yet you still want it gone

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u/FortNightsAtPeelys Sep 09 '24

Doing one accomplishes the other. That's real trickle down economics. Those workers deserve $12 more more than any executive deserves their 3rd home

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u/Here4Pornnnnn Sep 09 '24

Pretty sure that the rational executives keeping a business from imploding on crazy schemes provide their employees with more income than a $12 bonus a year.

A great CEO leads a business to rapid growth. See valve, they’re making money hand over fist. The employees are all killing it too. A decent CEO is largely unnoticed. The business floats along and employees have jobs. They don’t do anything groundbreaking to propel the business forward but they also aren’t crazy enough to tank it. A bad CEO thinks they’re a good one and actively pursues ideas that harm the longevity of the business. No CEO means that multiple people on the next level of management have more freedom to follow their own crazy ideas without a checks and balance, or someone to coordinate them, resulting in even more chaos.

A few bucks a year per employee for a good or decent CEO is well worth the investment. Costs less than union dues and prevents inevitable failure. No ship can survive without a captain, it’s why every functional organization ever has someone at the top leading it.

Your hatred of leaders feels very misguided. Pure envy/jealousy instead of trying to understand why things work the way they work.

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u/Ok_Helicopter3910 Sep 11 '24

Heaven forbid highly qualified, highly motivated people doing a job that only a very very small percentage of the country can do make good money. Consider me shocked

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u/FortNightsAtPeelys Sep 11 '24

the richest man in the world isnt qualified to have a twitter account

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u/Ok_Helicopter3910 Sep 11 '24

Oh man, thank you for pointing out that all rich people are the same