Are WalMart's Low Wages A Drag On The Economy?
A new report claims that Wal-Mart’s wages could be costing taxpayers $900,000 to $1.75 million per year, per store.
“Wal-Mart’s The Low‐Wage Drag on Our Economy: Wal‐Mart’s low wages and their effect on taxpayers and economic growth” was prepared by the Democratic staff of the U.S. House Committee on Education and the Workforce and released today. The document claims to have calculated the cost to taxpayers in social services for workers paid the minimum wage.
It’s not the kind of summer blockbuster the American public expects, but it likely will become one.
It’s an update to the 2004 report: “Everyday Low Wages: The Hidden Price We All Pay for Wal-Mart.” That report sought to capture the public costs Wal-Mart’s business model imposes upon the nation’s taxpayers. It found that a hypothetical 200-person Wal-Mart store cost taxpayers an estimated $420,750 per year.
http://www.forbes.com/sites/lauraheller/2013/05/31/are-wal%E2%80%90marts-low-wages-a-drag-on-the-economy-new-report-says-yes/