Wal-Mart gives out $2 billion in bonuses to hourly workers

Discussion in 'Blazers OT Forum' started by Anima, Mar 19, 2009.

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  1. Anima

    Anima WuShock

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    Anima, Mar 19, 2009
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  2. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    Apparently they have 1.4 million employees in the US, so the cash portion is $666/employee on average.

    barfo
     
    barfo, Mar 19, 2009
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  3. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Greedy bastards.
     
    Denny Crane, Mar 19, 2009
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  4. maxiep

    maxiep RIP Dr. Jack

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    Where is Congress' outrage now?
     
    maxiep, Mar 19, 2009
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  5. BrianFromWA

    BrianFromWA Editor in Chief Staff Member Editor in Chief

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    28% tax of $988M in bonus cash is $275M.

    Wal-Mart's bailing out the gov't!
     
    BrianFromWA, Mar 19, 2009
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  6. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    Doesn't sound like we'll have to bail out WalMart - the economy is creating vast numbers of new WalMart shoppers.

    barfo
     
    barfo, Mar 19, 2009
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  7. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    I'm going to guess that the typical walmart worker pays less than 28% tax, though.

    barfo
     
    barfo, Mar 19, 2009
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  8. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Not for long.

    Obama's promised to cut the deficit in half in 4 years.
     
    Denny Crane, Mar 19, 2009
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  9. The Sebastian Express

    The Sebastian Express Snarflepumpkin

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    This is a very nice thing of them to do - even though they have some real shady things with their employees in the past and I still refuse to shop there unless they are the last possible place I can go.
     
    The Sebastian Express, Mar 19, 2009
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  10. BrianFromWA

    BrianFromWA Editor in Chief Staff Member Editor in Chief

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    Right, but don't bonuses get taxed off the top? So the gov't gets the cash now, and pays it back at Rebate time?

    I guess what I meant to say was "Short-term infusion of cash".
     
    BrianFromWA, Mar 19, 2009
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  11. barfo

    barfo triggered obsessive commie pinko boomer maniac Staff Member Global Moderator

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    I believe withholding on bonuses is the same as withholding on regular salary. So if the employee has cranked his exemption level up, less will be withheld.

    barfo
     
    barfo, Mar 19, 2009
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  12. Draco

    Draco Well-Known Member

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    Payroll tax is 15.3% so personal income tax of 13% is possible.
     
    Draco, Mar 19, 2009
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  13. Draco

    Draco Well-Known Member

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    Walmart's had also been lobbying for years to get an increase in the minimum wage.

    Seems odd coming from a company that mostly employs minimum wage labor.
     
    Draco, Mar 19, 2009
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  14. maxiep

    maxiep RIP Dr. Jack

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    To be fair, it's because raising the minimum wage crushes the small business owner that WalMart looks to drive out of business whenever they build a new store in a rural area. That being said, WalMart saves consumers in this country billions of dollars, so I don't think they're the Evil Empire others do.
     
    maxiep, Mar 19, 2009
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  15. Draco

    Draco Well-Known Member

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    Hmm that could be their motivation. I figured they projected the extra sales revenue from all minimum wage workers would exceed the additional cost of labor.
     
    Draco, Mar 19, 2009
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  16. The_Lillard_King

    The_Lillard_King Westside

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    you don't see a difference between the AIG situation and walmart?
     
    The_Lillard_King, Mar 19, 2009
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  17. AgentDrazenPetrovic

    AgentDrazenPetrovic Anyone But the Lakers

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    When you give money without restrictions...they are essentially that. Without restrictions.
     
    AgentDrazenPetrovic, Mar 19, 2009
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  18. maxiep

    maxiep RIP Dr. Jack

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    Yes there is. The people at AIG that received bonuses were contractually obligated to receive them.
     
    maxiep, Mar 19, 2009
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  19. The_Lillard_King

    The_Lillard_King Westside

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    Apparently not . . . and when AIG decides to fuck around with our money, gov't isn't going to take that.

    Walmart can do whatever the hell they want because it isn't gov't money they are wasting.
     
    The_Lillard_King, Mar 19, 2009
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  20. The_Lillard_King

    The_Lillard_King Westside

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    Bingo . . . that is the big difference between walmart giving bonuses and AIG giving bonues.
     
    The_Lillard_King, Mar 19, 2009
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