.. is a net drain on taxpayers, forcing employees into public assistance with its poverty-wage structure.
Walmart, the nation’s top private employer and the world’s largest public corporation, is a big part of the problem — and could be a big part of the solution. Their humiliating wages force thousands of employees to look to food stamps, Medicaid and other forms of welfare. A sign appearing at a Walmart in Ohio last year, asking people to donate food so that the company’s employees “could enjoy Thanksgiving,” was a perfect symbol of what’s wrong with the nation’s most despised retailer. Working at Walmart may not make you poor, but it certainly keeps you poor — at the expense of the rest of us.
By one measure, done by House Democrats last year in looking at data from Wisconsin, the average Walmart superstore cost taxpayers $904,000 a year in various subsidies, or more than $5,000 per employee.
Walmart disputes these figures, claiming the average full-time store worker makes at least $12 an hour, or enough to be just above the poverty level for a family of four. But these numbers are skewed by higher pay for management. The average “associate” at Walmart makes $8.81 an hour — poverty wage — according to the market-research firm IBISWorld, as of 2011. Another independent source, Payscale, says the average is under $11 an hour. No matter the exact figure, there’s no dispute that Walmart’s business model forces thousands of hard-working people to look for outside help just to get by.
And under that model, Walmart has made a fortune — $17 billion in profits last year, executive compensation for one man at the top in excess of $20 million a year, and a windfall making the six heirs of the founding Walton family worth at least $150 billion.
I vote for peach fried pie as have several others. And I agree with Max--Trio's…
I trust both still will be able to "double dip"?
No worries Pavel!