January 12, 2018
For the first time since 2008, the economy is very good.
Walmart, the largest U.S. private employer with more than 1 million workers, said Thursday it plans to raise starting wages from $9 to $11 an hour and hand out employee bonuses ranging from $200 to $1,000, becoming the latest company to give a least some of the credit for new worker benefits to the recently passed tax plan.
But economists and professors cast doubt on whether tax policy changes were the driving force behind the move by a retailing giant that for years has stood as a lightning rod for criticism over low worker pay.
With the national unemployment rate at 4.1 percent, a 17-year low, there are more job openings in the retail industry than at any time since the turn of the century, government data show.
With its announcement on Thursday, Walmart didn’t mention the great difficulty employers are having finding and retaining workers in the retail industry.
“Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Walmart’s Chief Executive Douglas McMillon said.
Observers said Walmart almost had to raise wages now if it wanted to keep step with peers such as Target, which late last year raised its starting wage to $11 an hour, with plans to reach $15 by 2020.
“I would’ve been astounded if they hadn’t raised wages,” said Thomas Kochan, a professor at MIT’s Sloan School of Management. “What’s impossible to sort out is how much of this is because of savings from the tax cuts, and how much is because of pressure they’re receiving from employees and labor groups.”
And how much of it is that people are getting better, higher-paying jobs in the new Trump economy.
But we’re not going to read that in WaPo.
The entry of Walmart into the tax-reform debate accelerates the contentious discussion over how much the tax plan, still only weeks old, truly factors into these corporate decisions. American Airlines and AT&T, among others, have announced $1,000 bonuses for employees because of tax reform. Wells Fargo is among a smaller group that has also pledged a $15-an-hour minimum wage following the tax plan’s passage. But experts are more doubtful that there’s a connection. Many expect wages to rise when corporations have more money, but that is supposed to flow from new investments measured in years, not weeks.
The economy is the hardest thing to attack Trump on. Because even hardcore leftists do not support a poverty-economy.
The Jews can say this “oh well maybe this is just a random thing that has nothing at all to do with Donald Trump” bullshit in their papers and on TV, but people in their real lives are feeling the effects of this. And it might be able to carry through Trump’s entire agenda.
After 4 years of Trump, when the economy is 10 times better than it was when Obama left, are people really going to be able to vote against Trump for a Democrat who will take us back to where we were financially because they think it’s sad that he’s mean to brown people?