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View Diary: The Low-Wage Wal-Mart Business Model has Broken Our Economy (17 comments)

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  •  That would have netted only $14 billion in taxes (1+ / 0-)
    Recommended by:
    psyched
    From 2007 to 2010, the wealth of the six Walton family heirs went up from $73.3 billion to $89.5 billion
    for this four year time period at 75%.

    However, Wal-Mart cost the US economy $300 billion elsewhere since 1980.  But someone can argue that Wal-Mart saved consumers that same $300 billion through lower costs and they would have a valid point.

    This is a tough issue.  They are certainly no monopoly but behave as one.

    "The way to see by faith is to shut the eye of reason." - Thomas Paine

    by shrike on Sun Jun 23, 2013 at 07:03:15 PM PDT

    [ Parent ]

    •  What you "save" you get in lower quality (4+ / 0-)
      Recommended by:
      phonegery, psyched, ciganka, freerad

      their stuff is not the same stuff cheaper it is really cheaper stuff, which is one of MANY reasons I won't shop there.

      One of the other reasons is that you don't save what you think you would save.  Once they drive out the competition, they raise the prices like any good monopoly.

      "I watch Fox News for my comedy, and Comedy Central for my news." - Facebook Group

      by Sychotic1 on Sun Jun 23, 2013 at 07:34:59 PM PDT

      [ Parent ]

    •  that $300 billion in lower costs... (0+ / 0-)

      That $300 billion in lower costs was extracted by their suppliers, who in turn extract it from their own workers and suppliers.... ad infinitum.

      The secret to prosperity is in fact a high-wage/high-cost economy with some (but not too much) inflation, similar to what the USA had from 1945 till 1980.  The austerity measures being  proposed by today's Very Serious People are in fact the polar opposite of the economic strategies used to build the American economy during the 1945-1980 era.  We had an activist federal government, unions were strong, we had protectionist trade policies, we had high marginal income tax rates at the top of the scale, etc., etc.

    •  But, they would have behaved differently (0+ / 0-)

      If they could deduct larger wages for their workers, then they would raise wages.

      The point is to get them to do the right thing, for the wrong reasons, because those are the only reasons they will respond to.

      Women create the entire labor force. ---------------------------------------------------------------------------------------- Sympathy is the strongest instinct in human nature. - Charles Darwin

      by splashy on Mon Jun 24, 2013 at 12:38:21 PM PDT

      [ Parent ]

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