This morning, we woke to the news that Walmart, joined scores of other corporate giants, sharing wealth they received in anticipation of lower corporate tax rates; they gave up to $1000 bonuses to employees and increased by $2 the hourly wage: totaling $700,000.
Benefits didn’t end there. Walmart expanded their maternity and parental-leave policies: full-time hourly employees would receive 10 weeks of maternity leave, six weeks of paid parental leave and up to $5000 adoption allowance.
Yet, Rep. Nancy Pelosi (D-CA) referred to these bonuses as ‘mere crumbs,’ ‘pittance’ and ‘pathetic.’ Not enough. In Nancy Pelosi’s world of economic privilege, $1000 may not seem like much; therefore the ‘pathetic’ comments. But, to the Walmart greeter in the rust belt, to most Americans, this is money which can be squirreled away for a college fund or have many productive uses. Unfortunately, to be able to do this, Sam’s needed to close 60+ stores.
I may not have legislative experience, but I have sitting-around-the-table meat/potatoes experience that says I can buy more with my salary and a bonus, than I can with my salary, and no bonus. The sheer emotional benefit of being more financially secure cannot be understated. It doesn’t take a genius or rocket scientist to know that putting more money in the hands of the American worker is one way to stimulate the economy. ‘Trickle down’ economics has worked unlike shovel-ready jobs.
Ms. Pelosi also said that the raises [in minimum wage] are ‘insignificant.’ Insignificant to whom? Possibly $256/month is insignificant in your world, but it is hardly insignificant in mine? In middle America’s. We saw decline in salaries and benefits when the minimum wage was mandatorily arbitrarily increased to a softer, gentler sounding ‘living wage’. But, increase this wage too far, too fast and smaller companies will need to lay people off, decrease benefits or both to compensate for their lost revenues. There is only a finite amount of cash available.
These seem to me to be more examples of the left thought process not playing out to the finis; liberal short-sightedness. The left increased the minimum wage in Seattle while not thinking that this meant more money ‘going out,’ so benefits to full-time workers were increased.
We’d all like to see everyone living in the lap of luxury, but to accomplish that fact, would mean too much sharing of the wealth of the few. Eventually, when we have eaten at the carcasses of the 1%, would you have us broaden our scope to the top 2%, then 3%? How soon would it be before we all come to live off you?