‘Save Money, Live Better’: Nation’s Largest Employer Crediting Tax Cuts With Employee Raises
So much for the ‘evil GOP tax cuts’ merely benefiting the rich. Wal-Mart, the country’s largest private employer, announced this week that it would be raising the starting hourly wages of employees to $11/hour and it credited the recent tax cuts for the decision.
“Wal-Mart Stores is boosting its starting hourly wage to $11 and delivering bonuses to employees, capitalizing on the U.S. tax overhaul to stay competitive in a tightening labor market.
The increase takes effect next month and will cost $300 million on top of wage hikes that were already planned, the Bentonville, Ark.-based retailer said Thursday. The one-time bonus of up to $1,000 is based on seniority and will amount to an additional $400 million. The company is also expanding its maternity and parental leave policy and adding an adoption benefit.
“Tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.,” Chief Executive Officer Doug McMillon said in the statement.”
Isn’t it amazing how conservative tax policy, letting businesses and individuals keep more of their own money, actually accomplishes the purported goals of the Left of lifting the poor and allowing for more job perks like parental leave?
This announcement adds Wal-Mart to an ever growing list of American businesses that are plowing tax savings into employee wages and expansion. All without the long arm of Big Government taking money out of your pocket to out it in another’s. What a novel concept.