Noted Investor Asks People if Walmart Employees Are Underpaid — His Next Question After They Say ‘Yes’ Is Funny

Posted by Eudaimonia 12 years, 4 months ago to Politics
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Peter Schiff is *the man*!
And, yes, I supported him in his gubernatorial campaign against Linda McMahon.

This is one very funny video.

All Comments

  • Posted by Stormi 12 years, 4 months ago
    We are missing the point. This is about trying to get workers in all fields UNIONIZED. Remember Obama's army ACORN (SEIU). Obamacare pushes for unions for all healthcare workers. The more union workers they can get, the easier to control them via their unions.
    They don't give a rat's behind if they deserve the wage or work had for it, it is about control and giving to start out, and later taking away as the jobs move out of the US.
    No, beginning workers do not deserve $15 per hour. There are college educated workers working for that now, so what happens then, achievement is meaningless and not rewarded?
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  • Posted by Hiraghm 12 years, 4 months ago in reply to this comment.
    Okay, work it the other way:

    $15/hour represents a 200% increase in the cost of labor per employee.

    Would the shoppers be willing to pay 200% more for the products they buy?

    No, forget compensating for the increased wages. I'm talking about asking them to be willing to pay 200% more for the goods and services they buy, *just as they're asking Wal-mart to pay 200% more for the services THEY buy*.
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  • Posted by $ Tuner38 12 years, 4 months ago
    An arbitrary wage deemed "living" has nothing to do with the reality of business. Business must profit or dissolve. The cost of wages must be low enough to provide a profit. This is the fact of reality the proponents of an arbitrary pay scale ignore.
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  • Posted by strugatsky 12 years, 4 months ago
    I am now buying my second new Hyundai because, in part, I do not want to support American unions. And the second reason is because Hyundai is a better value than what Detroit makes. Actually, reason number one applies here too.
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  • Posted by Hiraghm 12 years, 4 months ago in reply to this comment.
    Same mentality that bought the Japanese cars in the 70s, then put bumper stickers on them that proclaimed "Buy American!".
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  • Posted by Non_mooching_artist 12 years, 4 months ago in reply to this comment.
    Exactly! What happened to the drive to achieve something better, to work hard because you have a GOAL to keep going to the next level. Then to have that diminished by graspers who expect to have that same compensation, without putting in the effort for it, speaks volumes about where,as a society, we have settled. And it's under the muck of a stagnant pond.
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  • Posted by MaxCasey 12 years, 4 months ago
    If you want higher wages you have to become more valuable than the next wage-monkey, or robot, or high school drop out. If you can be replaced by Raul from South of the boarder because all he needs to do is translate uno, dos, tres, quatro, cinco and push buttons, don't expect middle management wages.
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  • Posted by ObjectiveAnalyst 12 years, 4 months ago
    Fantastic! I loved the last guy trying to help through obfuscation of the corollary...
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  • Posted by Hiraghm 12 years, 4 months ago in reply to this comment.
    As much as it pains me to say it... it is a relative thing...

    Yes, some Walmart employees are worth $15.00, even over above what some managers get... because...

    Because the bar is set so low for those who get $8.50+ an hour. Because there are employees who are an actual drag on the productivity of the company, but have been there for so many years that they're now drawing $12.00+ per hour, plus benefits, plus weeks and weeks of paid vacation time.

    I've seen employees who need to use a shopping cart in order to walk, creeping along, doing the same work as healthy employees... but much more slowly and less productively, for greater pay because of their longevity with the company.

    Objectively, should *any* low level employee at Wal-mart get $15/hour? Definitely no. But, relative to his/her contribution compared to those getting equal or greater pay but contributing far less? Definitely yes.
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  • Posted by richrobinson 12 years, 4 months ago
    I don't mind Wal Mart workers trying to get a higher wage. It is has always seemed strange to me that so many union people shop there and they are the most anti union company on the planet.
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  • Posted by Augur 12 years, 4 months ago
    I agree I support people trying to get a higher wage for themselves. But they have to be realistic about it. If you are in an entry level position, you need entry level pay.. You want a higher pay, work harder and move up...

    For a walmart entry level worker to get $15.00 an hour, when there are people in management that don't even make that much that busted their buts to get to what they are currently at....

    I am a firm believer in getting paid for the job that you are hired to do. Want more pay? move up, go to school, or work your way to higher pay...

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