Economics 101 - Walmart Style!
So the head of Walmart, H. Lee Scott Jr., has called on Congress to raise the minimum wage. In a speech to his directors on Monday, Scott said the company’s customers are “struggling to get by”. He went on to say “We are seeing an increase in spending on the 1st and 15th of each month and less spending at the end of the month, letting us know that our customers simply don’t have the money to but basic necessities between paychecks.”Where do I start? First, let me make sure I have this straight. Scott wants the Feds to force employers to pay their people more so that Walmart can make more money at the end of the month. Well Mr. Scott, would it be easier if the State were to just take the money by force from business owners and give it directly to you? How about if we just raise taxes on those evil rich and give the money to anyone that claims to shop at Walmart, they obviously need it!
Is that the new Walmart Slogan “From each according to their ability, to each according to their needs.”? Oops, I’m sorry, that one is already taken by the Socialists. I guess Capitalism and Free Markets mean nothing to a company that routinely asks local Governments to “condemn” and then confiscate properties so a Walmart may build there. I’m starting to understand the Socialist mindset of the leaders of Walmart.
One more Quote from Scott. “One can’t help but think if they want people to have more money, how about paying your workers more?” You’re so right Mr. Scott; let’s force employers to pay their people at least $100 per hour. That way everyone would have lots of extra money to spend and our economy would soar! Of course, anyone with better than a middle school education should know that a rise in the cost of doing business would force a rise in prices until we were back where we started.
The fact that Mr. Scott is Chief Executive proves Walmart’s new slogan is in force. With out the ability to understand basic economics, how can he have the ability to run a big corporation? “From each according to their ability, to each according to their needs.”
Obviously, Mr. Scott “needed” the work.
Little Duke
posted by Duke of DeLand @ 10/26/2005 09:16:00 AM
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