Walmart is paying $20 billion to shareholders. With that money, it could boost wages to over $15.

[workinclasszero]

Walmart employs more than 1 million Americans. Its base pay is below the federal poverty line for a family of three.
By Emily Stewart May 25, 2018, 8:10am EDT

After the Republican tax bill passed, Walmart announced it would boost the minimum wage paid to its workers to $11 an hour, give “eligible associates” a $1,000 one-time bonus, and deliver other new benefits to an estimated 1 million employees thanks to its tax cut.

If the company hadn’t also planned to deliver $20 billion to shareholders via stock buybacks over the next two years, a decision announced before the tax bill was passed, it could have done a lot more.

If Walmart wanted to spend that $20 billion on workers instead, according to a report released by the left-leaning think tank the Roosevelt Institute this week, it could increase their wages by $5.66 an hour to a $16.66 base wage. Or it could buy its employees Walmart stock and turn them all into shareholders, doling out about 113 Walmart shares — currently valued at about $83 apiece — to each.

https://www.vox.com/business-and-finance/2018/5/25/17379730/walmart-stock-buyback-worker-wages

[JDC]

1. Stock buy backs...quarterly capitalism strikes again

[mountain grammy]

2. America's largest employer

isn't about to set a precident for goodness sake.

[CanonRay]

3. Runaway capitalism

[Crutchez_CuiBono]

4. I hate the place but

am forced by economics to shop there. Our country is fading.

[malthaussen]

5. It has obligations to its shareholders.

It has none to its employees.

-- Mal

[colsohlibgal]

6. Despicable

I don’t have to shop there but even if I did have to I wouldn’t, I would find another way.

The Waltons and the other hierarchy of that place are greedy beyond belief. They tell their poorly paid employees to use the social safety net to get by while throwing money at forces trying to undo that net.

Costco pays a living wage with top tier benefits and the owners top executives are still filthy rich. They just aren’t quite as rich as the loathsome let them eat cake Waltons.

I am Agnostic but in this case I hope their is a Hell because if there is that is where old Sam and the others are or will be.

[SunSeeker]

7. K & R for exposure.