Thursday, June 22, 2006

The War on Wal*Mart

And, by extension, the market economy, continues. Maryland has the “big box” tax, and now Chicago is considering “big box” minimum wage laws.

How progressive can it be to keep poor and marginally qualified people from getting jobs, and by extension increasing dependency on the state, as well as raising the costs of living for all?

Looking briefly at the numbers, we see that the rapacious capitalists from Bentonville made a net profit of $11.231 billion dollars. Sounds like a lot, and it is. However, the chain also had sales of about $315.654 billion. Boiled down to the essentials, those rotten, thieving, Yankee running dog capitalists made 3.6 cents per dollar of sales. Or, put another way, if we took the entire net income, and divided it up among all of Wal*Mart’s 1.8 million employees, they would each receive about $120 per week, or until Wal*Mart was forced either to go out of business, or take steps to drastically reduce costs – probably by laying off workers or closing stores.

It’s a failure to understand, as Bertie Wooster might say, that “you don’t grind the faces of the poor by selling them pressed beef and chips at lower prices than they would be charged elsewhere”.

More BMD on Wal*Mart here.