Posted on 01/11/2018 5:08:06 AM PST by LRoggy
Walmart's employees will reap the benefits of the recent tax law changes, as the company raises its starting wage and distributes bonuses to eligible workers.
The big-box retailer announced Thursday it will be increasing its starting wage rate for hourly employees in the U.S. to $11, and expand maternity and parental leave benefits. The retailer also will pay a one-time cash bonus to eligible employees of as much as $1,000.
Currently, Walmart's starting wage is $9 until workers complete a training program. Then, they receive $10.
(Excerpt) Read more at cnbc.com ...
Krugman sucks.
Walmart is shifting to robots for stocking and self check out. There will be hardly any employees in their stores eventually.
This is all fine and dandy but how will this affect PRICES??
Basic economics: When labor costs increase, prices increase.
My degree is in Economics, we have a LONG WAY to go before this type of labor pricing makes even an INSIGNIFICANT difference.
Are your really going to not buy the coffee maker if the price goes from $29.99 to $30.99? Of course not!
It’s time to take care of the hourly worker and I’m all for it!
And to the other poster talking about automation . . . the more you automate the less the differential between labor costs of here and the Vietnam’s and China’s of the world matter . . . meaning logistical speed comes to the forefront of manufacturing concerns. Look for a lot more movement of manufacturing here for that reason. And don’t tell me there will be no jobs, anyone who says that has not stepped foot in a manufacturing facility in many years.
Bonuses are nice but unfortunately they are taxed at a higher rate than normal income. In the days when I used to get one, I was dismayed at the big chunk Uncle Sam would take out of the check.
A few years ago our company was giving these little token bonuses of $50 or so as a thank you or for a specific task. I received one, and the next pay I saw my check shrink by $23 or so. I found out that was the Federal tax on the little bonus!
This is a common and incorrect understand. WITHHOLDING is generally higher on bonuses but you always only owe whatever the marginal tax is when you true up in Jan-Apr. By law, federal taxes on bonuses must be withheld at 25% as most people's marginal tax rate is 25% (effective rates are generally much lower) but you'll owe April 15 whatever you actually do (0%, 10%, 12%, 22%, etc up to 37% now).
Not for nothing, but who the hell would work for $11 an hour? That’s barely $300 after taxes for a 40 hour week. I saw an ad yesterday for a food delivery guy $20 bucks an hour, maybe that’s just New York though, but I’ve been seeing a lot of those ever since Hillary failed to steal the election. I just think it’s odd that a multi-billion dollar corporation like Walmart would be paying their employees LESS than what illegals get under the table which is no less than $100 a day, $11 an hour is spit but I guess people are taking that job.
With all the employee friendly ads Wal-Mart runs I thought for sure they paid their employees more than $11.00 am hour. Propaganda
When Walmart quit selling moon pies and Confederate flags I quit going to Walmart. Sam Walton wouldn’t recognize what his store has became. His main selling point was “made in America.” That went by the wayside 30 years ago.
I bet the liberals’ heads are exploding at all this winning!
I went to school in Geneva, NY. You can buy a three-bedroom place there for less than $100,000. You have to remember that many places in this country are a lot cheaper to live in.
Also, for many WalMart hourly employees this job is the only one they were able to get during the Obama economic recovery. No point in comparing this to anything else.
If everyone is getting raises, we can afford it. You don’t want to see rising wages?
In many states Walmart employees are the largest group of Medicaid recipients.
[If everyone is getting raises, we can afford it. You don’t want to see rising wages?]
I don’t have a problem seeing wages raised.
I am thinking long term, if these tax cuts are somehow reversed, god forbid Democrats resume control. These wages aren’t going to go back down, so as a result, prices will increase.
Oh come on. Do the math I saw a study that showed they could DOUBLE wages and the shelf price went up 1%.
They are able to work for $11/hr. because they get food stamps and rent subsidies from the government. The US taxpayer has been subsidizing the wages of Walmart employees since its inception, so that cheap Chinese coffee maker you bought at Walmart wasn’t really so cheap.
Walmart Prices Would Rise By Pennies If It Paid Workers More Than Poverty Wages
Did I stop at the DU by mistake? My progressive friends say the same.
That prices don’t have to increase in this case, since the company is getting a tax break. They are taking part of their increased profits because of the tax bill and redistributing it to their employees. Seems to be the trend!
The Democrats are probably hating this. Many people are going to see larger paychecks, both to due increased wages and to lower taxes. It’ll be hard for the Democrats to say this is a bad thing in the next election :-)
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