Peter Schiff, president of Euro Pacific Capital, has a new video out where he goes to a Walmart location and finds out if shoppers support a $15 wage for the store’s workers. Schiff posed as an individual in charge of a “15 for 15” organization, a fake initiative that encourages Walmart to raise prices by 15 percent and give that increase back to the workers.
It appeared that no one was willing to pay higher prices. The gentleman at the end of the video said it best, “Goddamnit! … Nobody wants to pay higher prices!”
Like this article? Get ECN delivered to your inbox daily. Subscribe here.
I think that you don’t get it that this guy is right. True that Walmart could cut some CEO pays (I hate them too) but that is just drop in the ocean. It is not that those low-paid employees are forced to work. The problem is that nobody else wants them. This is sad, very sad. Nowadays, with all the automation unskilled labor becomes redundant. It has been heading in that directions for years and it will not get worse. Sorry to say that. I know you hate to hear that and will deny that. But that is the fact….