Peter Schiff hasn't been to Walmart lately. Half the registers are self checkout. $15 per/hour will only accelerate the trend.
Peter Schiff Pushes for $15/hr for Walmart Employees
- Thread starter charlesmartel
- Start date
You don't need much more than a basic understanding of business to see why Schiff has the IQ of a cockroach. Businesses have a certain amount of capital -> they budget a certain amount for employee salaries -> if the average salary is increased -> then the number of employees is decreased -> hence you now have a handful of lucky people making twice as much, and a shitload of unlucky people getting fired and making nothing.
As if that isn't bad enough, now a lot of those people who were just fired (I mean "laid off") are going to try to apply for the various pro-communist programs our gov offers such as welfare, unemployment benefits, etc which bring the economy down even futher.
Even if the business were to take that money from elsewhere and redirect it into employee salaries in order to avoid firing them, it would still hurt the economy because it's deliberately decreasing investment capital (when nobody is investing, the economy goes down the drain). It's basically the same as just increasing gov taxes and then having the gov redistribute the cash.
Lastly, you basically just raised peoples' salaries for nothing. Basic psychology can tell you that rewards should only be given for good behavior, and punishments should be given for bad behavior. If you're just rewarding people for doing jack shit, well then you're encouraging everyone else to also do jack shit. The overall work ethic decreases, and you bring the economy down even further.
The market should sort that out. If the job at Walmart demands a high skill set, then there should be a natural scarcity of labor which will drive the wage up.
The problem is that the skills you need to perform most of the jobs at Walmart can be learned in a few hours. Since most anyone can accomplish simple algorithmic tasks, labor is no longer scarce. Now you're competing with thousands of illiterate teens and ill-tempered fat chicks for a position.
No one is forced to work anywhere. If you don't like the conditions, leave the job. Of course, the government will still get its cut no matter where you go. That's the real exploitation.
Edit: Just realized it was a troll, lol. Didn't bother watching the video at first as I had no interest in hearing liberals protesting. Boatburner, disregard the first line of my post, but the rest is still a solid explanation.
