Are Walmart Employees People?
Walmart is very profitable. It made about $17 Billion in 2012 (3.65% net profit). It announced a $15 Billion stock buyback in June. Its stock has risen from $76.67 to $79.25 per share since then.
Walmart decide to redistribute profits to shareholders as capital gains. That meant that unless their shareholders sold their stocks, they would pay no taxes on the appreciation of their stock. Even if they sell their stock, they will owe no social security taxes on those gains. Additionally, their effective tax rate is lower than the rate of the average tax payer. Capital gains have a lower tax rate than the highest tax rate of the wage earning working man.
Walmart employees at a Canton, Ohio store were greeted in a work area with a sign that said, “Please donate food items here so Associates in Need can enjoy Thanksgiving Dinner.” According to Glassdoor.com the average Walmart sales associate makes $8.87 per hour ($18,429 per year).
Low wage Walmart employees helping poor Walmart employees are admirable. It is sort of touchy feely especially around the holidays. It displays the best in basic humanity. In a Fox News Right Wing type context, it is exactly how America is supposed to work. It is sharing the crumbs that the Plutocrats throw the way of those that really make society work. It is redistribution of crumbs between the lower classes as the huge profits from their labor trickles up; no; streams up to their capitalist masters.
It is the fiduciary responsibility of corporations to maximize the profits of their shareholders. Walmart distributes its earnings in a form to pay as little taxes as possible. Yet, many Walmart employees are dependent on the support of other Walmart employees or government services like food stamps, Medicaid, etc.
Krystal Ball gets it right in her monologue. She sums it up in one succinct paragraph.
I think it has become pretty clear in this country that corporations like Walmart, despite their desire to be treated as people aren’t about to act with humanity. While actual persons try to live by the maxim ‘to whom much is given, much is expected’, corporate persons apparently feel no such compunction. So if we care about workers at Walmart being able to afford a Thanksgiving Dinner, or even just regular healthy meals for their families, we have got to do two things. Give workers a voice and demand an increase in the minimum wage. After-all, they may not have the hundreds of millions of dollars it takes to buy an election at today’s prices, but like corporations, Walmart employees are people too.
Capitalism knows nothing about humanity. It knows nothing about the environment. It knows nothing about quality of life for those without capital. The capitalist machine is intent on the ‘efficient’ allocation of resources at all cost. Those that have capital and move capital will ensure that their class is protected.
Who protects everyone else? That is supposed to be government for and by the people. That is what has been lost. That is the need of Walmart employees. That is what everyone in the 99% need. This will begin only when the American workers acknowledge their worth to society. Only then will they have the wherewithal to fight for the national wealth that is theirs.
Many still think they are immune to the Walmart employee’s experience. The radiologist thought he/she was immune till his X-rays were read in India via the Internet. The engineer thought he/she was immune till the research centers were built in Shanghai. The office workers thought they were immune till the call centers and support centers were built in Costa Rica.
Wake up folks. Who do you think is next?