The NYT noted "the giant retailer sets the benchmark for lower-wage workers." The US government has ceded authority on protecting low wage workers from exploitation to... Walmart. — https://www.nytimes.com/2020/09/17/business/walmart-pay-raise.html
@ted do you think people need protection? I think the minimum wage thing is kinda silly
@nickchuckwalter Yes, I do.
Reality is that low income works have very little leverage compared to large corporations. And smaller companies that were paying a living wage got destroyed by folks like Walmart coming in to their communities.
So by having a minimum wage we protect small business and ensure fair competition based on the products and services instead of squeezing workers.
@ted I think minimum wage is something that hurts small business. Like Walmart for example could up their rate if they were required by law I bet but I assume that would kill a lot of smaller businesses
@nickchuckwalter for the small business owners I know that is not the case.
I believe it stems from actually knowing your employees and realizing what paying them lower than a living wage does. Executives at large corporations are optimizing for shareholder profits, in fact, it's the law, they have to.
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