Why ‘big business’ likes the minimum wage — their ‘small business’ competitors cannot afford to pay it.


From the Motley Fool:

Also, in a bit of irony, Wal-Mart took a stance on public policy by advocating an increase in the minimum wage. The company has often drawn fire for its labor practices and employee pay. However, it maintains that it pays its employees at rates above the minimum wage, while trends indicate that its customers can’t afford to purchase basic necessities throughout the month. Given its average wage of approximately $10 an hour, Wal-Mart’s call to increase the minimum wage above $5.15 would actually place an additional burden on many of its smaller, low-wage competitors.

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