December 5, 2013 Leave a comment
OMAHA, NE – Our nation’s largest corporations are cheating employees out of fair pay and they lie about being unable to afford to do it. Let us not forget that these corporations pay their CEOs millions in yearly salaries and benefits. Let us not forget these large corporations also give away millions in political donations to politicians, political organizations and lobbyists who stand against increasing the minimum wage as well as corporate taxes at the national, state and local levels.
WalMart, a corporation consistently on every Progressive’s hit list, is able to pay every single employee at least $25,000 a year on a full-time basis. A yearly income of $25,000 is just $12 an hour. Its a shame, the system is built to help the rich get richer, at great cost to the rest of society. Instead of paying its employees a fair wage, WalMart spends about $7.6 billion to buy back shares of its own stock to make a small group of rich investors even richer. WalMart also spends much time, money and effort into fighting efforts to set up living wages in cities across the US.
WalMart was also cutting hours on employees before the holidays shortening the amount they will pay workers who will work on Thanksgiving Day. According to ThinkProgress 11/22/2013, “[Walmart] calculates holiday pay differently from other retailers and manipulates staff schedules so they’re paid less on Thanksgiving than the retailer implies.” WalMart will cut employees hours during the preceding weeks before the holiday to ensure they are paid less during the holiday under the formula used by WalMart. According to CNNMoney 11/22/2013, “[WalMart] said the additional pay is actually equal to the average daily wage in the 12 weeks leading up to the holiday.” Those are the hours that WalMart will cut to save money while they make employees work during the holidays.
Corporations will continue to cheat their employees in this fashion unless we do something about it. Raising the minimum wage would help make the holidays less of a time of need for our nation’s poorest. WalMart and other corporations who could afford to pay more, have kept wages so low that employees get desperate for extra hours during the holiday season, while their investors make millions just sitting on their behinds. The CEO of WalMart gets paid around $23,000,000 a year. That’s 1000 jobs at $23,000 a year lost to one CEO’s outrageous salary. This is not the Land of Opportunity.
A Higher Wage is Possible at WalMart http://www.demos.org/publication/higher-wage-possible
WalMart Can Pay $25,000 http://thinkprogress.org/economy/2013/11/19/2970281/walmart-raise-buybacks
How WalMart Shortchanges Thanksgiving workers. http://thinkprogress.org/economy/2013/11/22/2983301/walmart-thanksgiving-pay
WalMart Shorts Employees on Holiday Pay http://money.cnn.com/2013/11/22/pf/walmart-thanksgiving-worker