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View Diary: Walmart "sales disaster;" An Opportunity That Shouldn't Be Missed (26 comments)

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  •  No, not peeved at all (7+ / 0-)

    I thought it was a very good piece of work. But he dismissed the payroll tax cut as the source of the "sales disaster" and I think it is exactly the source. And as such, it should be embraced as an explanation for lower sales AND motivation for Walmart and other employers who pay low wages to embrace raising the minimum wage.

    •  Of course, it's the Source (4+ / 0-)
      Recommended by:
      Kane in CA, kyril, a2nite, phonegery

      The 2% payroll tax amounted to about 125B a year, or 12.5B a month.

      Of those 12.5B, about 10B accrue to working and middle-class households, as the payroll tax is very regressive.

      Siphon off 10B from working and middle-class households in January, and Wal-Mart takes a hit.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

      by PatriciaVa on Sat Feb 16, 2013 at 09:48:36 AM PST

      [ Parent ]

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