According to Forbes the owners of Walmart are the richest family in the entire world, with a net worth of about $93 billion. Walmart has made a profit of 15 billions in 2011. Walmart also is the largest employer in US, next to the federal government with 1.4 employees. And a lot of us shop at Walmart because we love those cheap prices. So everyone is happy, and they all lived happily ever after. The end. Good night.
You know that’s not the end of the story, right…
The average salary of Walmart worker in US is $13,000 per year, while the national poverty line is at $17,000. So a lot of Walmart workers take the benefit of food stamp and free lunch programs from the government…that is the tax payers…still didn’t get it? THAT IS US – YOU AND ME.
Walmart gives us discounts on products –> by saving money from paying their employees less money –> Walmart employees rely on govt for survival –> we pay govt for that.
So the price of Walmart products is, the price we see on the tag + part of the taxes which goes to the Walmart employees.
Here is a quick tally of how much Walmart is costing us.
Walmart’s intentionally low wages means..
The other side of the Black Friday deals is bad shopping experience. It is standing in the long queues, waking up too early for those early bird deals, driving with not enough sleep (and with a lot of such people on the road), and bad customer service because the workers are too tired to handle such a rush.
When you add up, that flat screen tv that you are getting, isn’t that cheap now, is it?