Walmart announced that it will raise its minimum hourly wage to $9 and increase that wage to $10 next year. It’s great that the company has made this move on its own. However, will this raise really change the lives of its workers? A person making $9 an hour will still be earning about $20,000 a year – if she is working full time. If the worker is a parent, she will certainly still need public aid for food and housing. In essence, working people and the middle class will continue to be underwriting Walmart’s work force. We need to establish a living wage and commit ourselves as citizens to paying a little extra so we can all live decent lives.
Fast food workers stuck in 7 cities across the U.S. today. Common Dreams reports that this could be the biggest strike of its kind ever to take place. Workers, many of whom are only making the minimum hourly wage of $7.25, are calling for a living wage of $15 per hour. At first, it sounds shocking that anyone would ask to have their wages doubled. However, it’s not that big a challenge.
Writing in Huffington Post, Caroline Fairchild reports that it would be fairly to double the wage of McDonald’s workers. The price of a Big Mac would go up by all of .68, which would double the wage of all workers in the company, including CEO Donald Thompson, who takes home $8.75 million per year (probably with a few extra million in stock options tossed in). It wouldn’t take much to help those most in need of a raise.
If we dug just a little deeper and paid a little more, an army of consumers would lift this economy without any government intervention. For this to happen, large companies like McDonalds and Walmart would need to do two things: First raise prices a little. Second, pass the wealth along to their employees. Don’t hold your breath waiting for that to happen.