Where would those employees work? At one of the thousands and thousands of small retailers that WM has put out of business perhaps?
I heard today that the six Walton heirs together have more assets that the bottom 40% of the population of the entire country. That’s far from an equitable distribution of wealth. They pay their employees so poorly that many of them qualify for food stamps and Medicaid. Thus the U. S. taxpayer winds up footing the bill so the Waltons
can make even more billions.
Higher prices? If WM took JUST the billions they use for stock buy-backs, they could give every employee a $6/hour raise without raising prices a penny. That would almost double their pay. Having that much money pumped back into the economy would create thousands of jobs as well as alleviate some of the burden on the rest of us tax-payers, who, unlike the Waltons, have earned income rather than capital gains and so have much higher tax rates.
Whatever happened to the idea of social justice and the responsibility to pay a just wage? Their pay may be legal (if all of their employment practices are not) but it is not ethical or moral.
And it’s destructive to the country as a whole. A poor person today has a much better chance of pulling himself out of poverty in many other countries than he does in the U. S. If that’s not a recipe for social unrest and upheaval, I don’t know what is.