Over the years, Walmart has treated their workers with varying levels of respect. Only a few months ago, the retail Goliath was found to have been throwing away tons of perfectly edible food, as well. Liberals have always hated Walmart and many others have called into question their practices which can be the death knell to local businesses.
More than anything, however, people have a distaste for Walmart because they have a history of paying their employees so little that they end up on government assistance. In essence, “Wally World” was making the average taxpayer pay much for their worker’s wages! Thankfully, news today shows a huge change as they are “boosting [their] starting hourly wage to $11 and delivering bonuses to employees,” Bloomberg reports.
This is happening in large part to the prudent tax reforms brought about by President Donald Trump. It is said that they are “capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.” This is going to soften the hearts of many when it comes to the formally stingy company. It also proves that the tax reform isn’t just bringing one time bonuses, it is implementing true change for America.
The changes are to come swiftly, as soon as next month. They “will cost $300 million on top of annual wage hikes that were already planned.” Also, a “one-time bonus of up to $1,000 is based on seniority” has been added, a change that will cost another $400 million dollars.
This is the kind of change that many have pushed for. Those who have rightly boycotted the store at all costs may now feel a bit differently, at least when it comes to matters of pay and worker treatment.
Speaking about the Walmart can afford such sweeping revisions, Chief Executive Officer Doug McMillon says “Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.”
READ THAT CAREFULLY, LIBERALS! When the rich get more money, the rich can do more with it. The left loves to argue that the rich will just keep it all for themselves. Had Walmart done that with the money, while 100% legal, the backlash alone would have cost them far more. That is what the free market teaches us. Today that lesson is coming from America’s largest retailer.
Even though they have taken a hit when it comes to profits by doing this, Walmart executive and stockholders are not about to face starvation anytime soon. “We think this is a prudent use of tax reform proceeds as it reinforces the company’s commitment to improving in-store service levels and will pressure other retailers to invest more heavily into wages and prices,” admitted Ben Bienvenu, an analyst at Stephens in a note.
The company’s stock has actually seen an uptick since this change was made, so while the rich may get richer in the long run if the poor are getting richer too….who cares? Our goal as a nation should not be to punish the rich as much as to bless the poor. That is what the free market does. That is what happens when government stays OUT of the pockets of those doing the hiring and writing the paychecks.
Thanks to having more freedom, away from the burdens of Uncle Sam’s greed, one time bonuses “will range from $200 to $1,000, depending on how long workers have been with Wal-Mart.” This benefits those who are not getting the perk from the new starting wage hike. After all, keeping existing workers happy is also most vital.
Even better, Walmart “will provide full-time hourly workers with 10 weeks of paid maternity leave and six weeks of paternal leave” and those “who adopt kids will get the same benefit, along with $5,000 to help cover the costs.”
So liberals, tell us again how “tax breaks for the rich” hurt the little guy…?