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Would you agree to a tax to increase minimum wage?
Posted on 6/13/17 at 8:08 pm
Posted on 6/13/17 at 8:08 pm
For whatever reason after reading the Uber thread my mind started thinking about Walmart's wages and how people always complain they don't pay enough. I tried to google the average store income per week and wound up with the overall numbers for the entire chain.
I wondered how much it would actually cost the company to give each employee a $1/hr raise, and how they could pay for it.
SAUCE
$1/hr raise x 40 hr/week x 52 weeks = $2.080
Total Number of employees = 2,200,000
2.2MM x $2080 = $4,576,000,000 total cost to give every single employee a $1 raise, assuming they are all full time.
now...
Total Walmart sales annually $485,651,000,000
$485,651,000,000 x .01 = 4,856,510,000
Subtract the cost from this theoretical tax and you have a profit of $280,510,000 left over.
The reason for the question in the title is because, while Walmart could simply add $.01 to every item in their store and have enough money to pay everyone a dollar more, or .02 for $2 more, etc..... I'm not sure it would be as effective for smaller business.
Also, it may have to be imposed federally as a sort of " tax exempt tax" so that that penny or two isn't getting re taxed and cutting into itself.
Hope this all makes sense. Thoughts? Would you be willing to pay $101/week in groceries instead of $100 to give the plebeians a little more cash in their pocket?
I wondered how much it would actually cost the company to give each employee a $1/hr raise, and how they could pay for it.
SAUCE
$1/hr raise x 40 hr/week x 52 weeks = $2.080
Total Number of employees = 2,200,000
2.2MM x $2080 = $4,576,000,000 total cost to give every single employee a $1 raise, assuming they are all full time.
now...
Total Walmart sales annually $485,651,000,000
$485,651,000,000 x .01 = 4,856,510,000
Subtract the cost from this theoretical tax and you have a profit of $280,510,000 left over.
The reason for the question in the title is because, while Walmart could simply add $.01 to every item in their store and have enough money to pay everyone a dollar more, or .02 for $2 more, etc..... I'm not sure it would be as effective for smaller business.
Also, it may have to be imposed federally as a sort of " tax exempt tax" so that that penny or two isn't getting re taxed and cutting into itself.
Hope this all makes sense. Thoughts? Would you be willing to pay $101/week in groceries instead of $100 to give the plebeians a little more cash in their pocket?
29
Posted on 6/13/17 at 8:12 pm to Gusoline
So they could go spend it on smokes and tattoos? Nah, I'm good.
Posted on 6/13/17 at 8:12 pm to Gusoline
Not everyone at Walmart makes minimum wage. The store managers can make six figures. I would think the department managers do ok as well.
Posted on 6/13/17 at 8:13 pm to Brosef Stalin
quote:
Not everyone at Walmart makes minimum wage. The store managers can make six figures. I would think the department managers do ok as well.
I get that. Majority are only part time as well. My point I guess would be how seemingly easy it would be to boost wages.
This post was edited on 6/13/17 at 8:16 pm
Posted on 6/13/17 at 8:14 pm to Brosef Stalin
They already pay above minimum wage to start.
Posted on 6/13/17 at 8:14 pm to Gusoline
If you raise the labor cost for everyone, you raise the cost of goods also
Posted on 6/13/17 at 8:15 pm to Gusoline
Your math is whack. It is not $.01 for each item, it is $.01 for each dollar of sales.
Plus the bigger issue is a $1 raise costs more than $1 when you factor in benefits, payroll taxes etc....
Plus the bigger issue is a $1 raise costs more than $1 when you factor in benefits, payroll taxes etc....
Posted on 6/13/17 at 8:18 pm to Gusoline
quote:
My point I guess would be how seemingly easy it would be to boost wages.
You re using the most extreme example of a labor leveraged company. Further if it was easy - wouldn't all the businesses do it voluntarily to attract a higher quality employee? This is the reason we all don't make minimum wage - the market already assigns value.
Posted on 6/13/17 at 8:18 pm to Brosef Stalin
You realize you are proposing a tax break for walmart?
Democrats have told me my entire life that tax breaks for companies can ONLY help the rich.
Democrats have told me my entire life that tax breaks for companies can ONLY help the rich.
Posted on 6/13/17 at 8:19 pm to wickowick
Thus hurting the very people your propose to help.
The living wage arguments are backwards. The market doesn't care if your salary covers your living expenses. It can't. What it can do is fairly evaluate your work, and what is worth.
If you aren't making enough, you have to develop additional marketable skills, or work more.
Cruel reality.
The living wage arguments are backwards. The market doesn't care if your salary covers your living expenses. It can't. What it can do is fairly evaluate your work, and what is worth.
If you aren't making enough, you have to develop additional marketable skills, or work more.
Cruel reality.
Posted on 6/13/17 at 8:19 pm to igoringa
quote:
Your math is whack. It is not $.01 for each item, it is $.01 for each dollar of sales.
you're right
quote:
Plus the bigger issue is a $1 raise costs more than $1 when you factor in benefits, payroll taxes etc....
which is why i suggested the fed impose it, they could make the 1% of sales tax free as long as it went directly towards boosting employee payroll. Uncle Sam will still get money back taxing the employees extra $2080 per year.
Posted on 6/13/17 at 8:20 pm to Gusoline
Minimum wage does not = living wage. They are entry level jobs.
Posted on 6/13/17 at 8:21 pm to Gusoline
No. It's not the job of the federal government to determine minimum wage. Individual companies should be responsible for that.
Posted on 6/13/17 at 8:21 pm to Gusoline
Turn this around...if Walmart could raise their profits by 4 billion by simply adding .01 to the price of every product...why dont they?
Posted on 6/13/17 at 8:24 pm to Gusoline
If you raise the minimujm wage to $15 then what do you do for the people making $16/$17/$18 an hour?
Now they are barely making more than people who don't show up to work (#1 reason people stay in min wage jobs). frick that shite
Now they are barely making more than people who don't show up to work (#1 reason people stay in min wage jobs). frick that shite
Posted on 6/13/17 at 8:24 pm to Gusoline
You should apply this to your job.
Posted on 6/13/17 at 8:25 pm to bamafan1001
quote:
Turn this around...if Walmart could raise their profits by 4 billion by simply adding .01 to the price of every product...why dont they?
well we've established they'd need to ad .01 to every dollar spent at the store.. and the reason would be because Walmart is only so successful because of their price competition. Another reason for it to be federal and for all businesses.
Walmart was an example I'm not singling them out or even suggesting they don't pay their employees enough. I know they already pay above min wage.
Posted on 6/13/17 at 8:30 pm to Gusoline
I don't like the idea, on principle, but basic income would be a better solution. It would be a simpler and more efficient way to produce your desired outcome.
Posted on 6/13/17 at 8:32 pm to Gusoline
No, if a person wants to make above minimum wage they need to develop above minimum wage skill or education. I paid my way through school (without loans, grants, or scholarships) so I could make a decent living in this world and they can do the same.
Posted on 6/13/17 at 8:34 pm to Gusoline
Tax t pay wages? No.
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