Quote:
Originally Posted by woj
2 million was a made up number, it could be 1 million or 500 thousand, but bottom line is some will lose jobs for sure...
I wouldn't call walmart for example "highly profitable", they run a 3.57% profit margin (source: http://finance.yahoo.com/q/ks?s=WMT+Key+Statistics), so it's very unlikely they can absorb a 20% higher labor cost, all costs would get passed on to the customer...
small business are less likely to adopt to a 20% higher labor costs, so many of them could likely go out of business....
so there are multiple downsides, with no upsides to this proposal... |
A more important data point in their financials is their net income(
profit) - $15.7 billion last year. Let's say it costs them $3-500 million..drop in the bucket. They could make that up imperceptibly.
Just like this whole issue, it's much ado about very little.