Robert Reich

RT @[email protected]

NEW: Walmart is raising its minimum pay from $12 to $14 to better attract workers. Its average wage will rise to $17.50/hr.

The median Walmart associate now makes $24,960. CEO Doug McMillion made $25.7M, creating an astronomical CEO-to-worker pay ratio of 1029 to 1.

🐦🔗: https://twitter.com/MorePerfectUS/status/1617924985456328705

More Perfect Union on Twitter

“NEW: Walmart is raising its minimum pay from $12 to $14 to better attract workers. Its average wage will rise to $17.50/hr. The median Walmart associate now makes $24,960. CEO Doug McMillion made $25.7M, creating an astronomical CEO-to-worker pay ratio of 1029 to 1.”

Twitter
Jan 24, 2023 at 5:50pmWeb
Show threadken1951robertsJan 24, 2023

@rbreich A couple of things here. First, most Walmart workers can't get full time positions with the company. A high percentage of staff are part-time.

Secondly, the last time they increased hourly pay, they commensurately reduced the hours a person was working so the net result was no change or a reduction in actual wages.

Show threadComputeforloot Jan 24, 2023
@rbreich positive movement 🤗
Show threadDarwin WoodkaJan 24, 2023
@rbreich and the owners are billionaires. Sigh.
Show threadNutriamixJan 24, 2023

@rbreich
Don't forget that Andrew Jassy, current CEO of Amazon, took home $175,000 in salary, but over $211 million in stock (not stock options).

Quite a haul for someone who does no work and brings in no money for the company.

An even worse CEO-to-worker pay ratio than Walmart.

Show threadPatrickJan 24, 2023
@rbreich that's because CEOs work that much harder than the average employee. 😂
I've just finished reading a short story about the french revolution to my little ones. Quite an inspiration I'd say!
Show threadBigsmiffyJan 24, 2023

@rbreich

Nominative determinism in that ceo

Show threadAprilShowers99452871Jan 25, 2023
@rbreich
People making between $25 -30,000 will be hard hit by trumptax this year, seeing 3x higher tax bills than all others’ tax increases. Why is the lower 50% of earners not complaining. We know why the upper 50% isn’t complaining!!
Show threadLaVonne CockerellJan 28, 2023
@AprilShowers99452871 @rbreich because they didn’t have a tax preparer to explain the progressive nature of the bill and media did an awful job explaining