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the poor are eating their bottom line....oh noes - 1/31/2014 7:30:26 PM

Lucylastic

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http://www.huffingtonpost.com/2014/01/31/walmart-food-stamp-cuts_n_4703614.html

Walmart struggled at the end of last year. But according to the retailer's new estimations, it wasn’t because people didn’t want to buy. It was because they couldn’t.

The retail giant warned Friday that the effect of last year's national food stamp cuts on its bottom line will likely be deeper than the company previous estimated. As a result its comparable same-store sales -- an retail metric that measures how stores are doing year over year -- will likely be slightly down for the fourth quarter.

“The sales impact from the reduction in SNAP [the U.S. government Supplemental Nutrition Assistance Program] benefits that went into effect Nov. 1 is greater than we expected,” Walmart’s Chief Financial Officer Charles Holley said in a news release Friday. “And, second, eight named winter storms resulted in store closures that impacted traffic throughout the quarter.”

The GOP-led push to cut the food stamps benefits to the tune of $5 billion left 47 million Americans reeling during a time of nearly record-level food insecurity.

Because about 18 percent of all total food stamp dollars are spent at its stores, according to an October report from the Wall Street Journal, Walmart can serve as a way to gauge how Americans are coping.

Walmart executives were cautiously optimistic about the effects of the cut on Walmart's bottom line last year. "Everybody's benefit is going to get cut, price will become more important. And when price is more important, we're more relevant," Bill Simon, the retail giant’s U.S. CEO, said in October. He noted that Walmart’s market share actually decreased when the food stamp program initially expanded in 2009.

But the opposite didn’t hold hasn't held true so far, indicating that the poorest Americans are so pinched they can’t even afford to shop at the cheapest retailers. Family Dollar, another typical destination for Americans in a squeeze, also reported disappointing earnings earlier this month, which they blamed on factory including food stamp cuts, high unemployment and the payroll tax increase.

no wonder they give tips on how to claim snap ... yaaaay...

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RE: the poor are eating their bottom line....oh noes - 1/31/2014 7:45:28 PM

TheHeretic

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So now the lefties and their cheerleading squad are worried about Walmart??? I need a fucking spreadsheet to keep up with these ever-shifting values of the day.

Tell you what. I screwed up on scheduling my time, and I'm going to have to do my Wally World run at the first of the month (thank God we are ok on chewies for the dogs, and I won't have to hit Winco). I'll let you know if I see fewer carts full of chips, soda, and packaged foods being paid for with Golden State Advantage EBT cards after I make the run.

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RE: the poor are eating their bottom line....oh noes - 1/31/2014 8:07:23 PM

subrob1967

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Wasn't the "cut" actually a cut in future spending, and not on current spending?

Keep blaming the Republican's for Obama's follies, we American's know the truth.

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RE: the poor are eating their bottom line....oh noes - 1/31/2014 9:45:03 PM

Owner59

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quote:

ORIGINAL: subrob1967

Wasn't the "cut" actually a cut in future spending, and not on current spending?

Keep blaming the Republican's for Obama's follies, we American's know the truth.

Yup.....

"Poll Shows 80 Percent Of Americans Don’t Trust Republicans To Run The Nation"

http://www.washingtonpost.com/page/2010-2019/WashingtonPost/2014/01/26/National-Politics/Polling/release_289.xml

http://www.examiner.com/article/poll-80-percent-of-americans-don-t-trust-the-republican-party

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RE: the poor are eating their bottom line....oh noes - 1/31/2014 11:03:04 PM

Lucylastic

Posts: 40310
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rob you didnt see this?
"The GOP-led push to cut the food stamps benefits to the tune of $5 billion left 47 million Americans reeling during a time of nearly record-level food insecurity."

"the reduction in SNAP [the U.S. government Supplemental Nutrition Assistance Program] benefits that went into effect Nov. 1 is greater than we expected,” "

_____________________________

(•_•)
<) )╯SUCH
/ \

\(•_•)
( (> A NASTY
/ \

(•_•)
<) )> WOMAN
/ \

Duchess Of Dissent
Dont Hate Love

(in reply to Owner59)

Post #: 5

RE: the poor are eating their bottom line....oh noes - 2/1/2014 4:59:11 AM

RottenJohnny

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quote:

ORIGINAL: Owner59

"Poll Shows 80 Percent Of Americans Don’t Trust Republicans To Run The Nation"

My guess is that just about the same percentage don't trust the Democrats either.

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Post #: 6

RE: the poor are eating their bottom line....oh noes - 2/1/2014 5:10:39 AM

thishereboi

Posts: 14463
Joined: 6/19/2008
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quote:

ORIGINAL: TheHeretic

So now the lefties and their cheerleading squad are worried about Walmart??? I need a fucking spreadsheet to keep up with these ever-shifting values of the day.

Tell you what. I screwed up on scheduling my time, and I'm going to have to do my Wally World run at the first of the month (thank God we are ok on chewies for the dogs, and I won't have to hit Winco). I'll let you know if I see fewer carts full of chips, soda, and packaged foods being paid for with Golden State Advantage EBT cards after I make the run.

I don't go into wallyworld enough to tell if they are busier now or not. But I did ask my boss how sales were going because we have a lot of customers who use food stamps. He said if anything sales were up a bit this year. Of course we sell the important things in life like slushies and candy so maybe people are cutting back in other areas in order to get by.

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 7:46:37 AM

Aylee

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Joined: 10/14/2007
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quote:

ORIGINAL: thishereboi

quote:

ORIGINAL: TheHeretic

So now the lefties and their cheerleading squad are worried about Walmart??? I need a fucking spreadsheet to keep up with these ever-shifting values of the day.

Tell you what. I screwed up on scheduling my time, and I'm going to have to do my Wally World run at the first of the month (thank God we are ok on chewies for the dogs, and I won't have to hit Winco). I'll let you know if I see fewer carts full of chips, soda, and packaged foods being paid for with Golden State Advantage EBT cards after I make the run.

I don't go into wallyworld enough to tell if they are busier now or not. But I did ask my boss how sales were going because we have a lot of customers who use food stamps. He said if anything sales were up a bit this year. Of course we sell the important things in life like slushies and candy so maybe people are cutting back in other areas in order to get by.

Hey now! Dark chocolate is a health food. Slushies on the other hand are just disgusting.

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:10:12 AM

kdsub

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A little off subject but I see two opposing paths to wealth in the US.

The first is the constant drum beat of marching Republicans and their supporters demanding ever increasing tax relief for business in America. The idea is making business less expensive to owners and investors which will simulate job creation… The so called trickle down economics. Creating jobs will then spur the economy and make up the reduction of tax income.

The second calls for business to pay at current or increased tax rate and to raise the minimum wage thereby giving the general public more money to spend at a business allowing said business to recoup the hit they take in taxes.

The results of the first option have been in for years and years… The money saved in taxes is not reinvested … it has not spurred job creation…it is simply taken as profit increasing the wealth of the top few percent of Americans and lowering the standard of living for the majority.

It is time to try the second option… if given a choice between making the rich richer and the rest of us poorer and trying another option… I am for increasing the minimum wage to a living wage… not just a few pennies and see how it plays put in the economy. If nothing else with this option our economy will either go up or come down together… rich and poor the same. I understand the cost of business will need to be passed on to the consumer but economic competition will keep it to a minimum. Business will survive but with a smaller profit margin per item… But the consumer will be able to by more items.

Maybe Wal-Mart will not need the consumer to use food stamps and our taxes can be used in other more important areas...Heaven forbid maybe to reduce taxes on businesses...Why not try it what do we have to loose...corporate welfare is not working so good today.

Butch

< Message edited by kdsub -- 2/2/2014 8:13:55 AM >

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:14:38 AM

Moonhead

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It is very strange that Republican economists still insist that trickle down theory works. You'd think after forty odd years of it conspicuously failing to do any good they'd have given up on that one by now. It's like having chemistry teachers still teaching the phlostigon theory, or physicists claiming that light is a wave in the ether at this point: a blatantly and inarguably false assumption.

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:20:37 AM

kdsub

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But you see it has worked wonderfully...at least for those who are intended to profit from it. It amazes me how easy it is to fool people by putting up straw men like gay marriage to cover for greed...And the majority cannot see through the ruse... pitiful.

Butch

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Mark Twain:

I don't see any use in having a uniform and arbitrary way of spelling words. We might as well make all clothes alike and cook all dishes alike. Sameness is tiresome; variety is pleasing

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Post #: 11

RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:30:59 AM

Yachtie

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quote:

ORIGINAL: kdsub
I am for increasing the minimum wage to a living wage… not just a few pennies and see how it plays put in the economy.

It's been shown that artificially raising the minimum wage hurts employment, basically for the same reason raising prices hurts consumption. Everyone has a price they will pay for X at their ability Z. Raising it to X+n will not increase its consumption, it will lower it. Same goes for employment. I might employ Jack for 10 an hour because that's what he's worth to me. Artificially raise him to 15, raising his ability Z, and he's no longer of value unless I raise prices enough as to reach the same equilibrium as before.

Every time the Min wage has been raised it has eventually needed to be raised again. Why is that? That is one question people need understand. Also, why is Jack worth more than what an employer values him at?

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Post #: 12

RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:37:36 AM

kdsub

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Where... it has not been shown to me...by the way tell me when EVER the minimum wage has been a living wage in the past.

Butch

_____________________________

Mark Twain:

I don't see any use in having a uniform and arbitrary way of spelling words. We might as well make all clothes alike and cook all dishes alike. Sameness is tiresome; variety is pleasing

(in reply to Yachtie)

Post #: 13

RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:39:20 AM

thishereboi

Posts: 14463
Joined: 6/19/2008
Status: offline

quote:

ORIGINAL: kdsub

A little off subject but I see two opposing paths to wealth in the US.

The first is the constant drum beat of marching Republicans and their supporters demanding ever increasing tax relief for business in America. The idea is making business less expensive to owners and investors which will simulate job creation… The so called trickle down economics. Creating jobs will then spur the economy and make up the reduction of tax income.

The second calls for business to pay at current or increased tax rate and to raise the minimum wage thereby giving the general public more money to spend at a business allowing said business to recoup the hit they take in taxes.

The results of the first option have been in for years and years… The money saved in taxes is not reinvested … it has not spurred job creation…it is simply taken as profit increasing the wealth of the top few percent of Americans and lowering the standard of living for the majority.

It is time to try the second option… if given a choice between making the rich richer and the rest of us poorer and trying another option… I am for increasing the minimum wage to a living wage… not just a few pennies and see how it plays put in the economy. If nothing else with this option our economy will either go up or come down together… rich and poor the same. I understand the cost of business will need to be passed on to the consumer but economic competition will keep it to a minimum. Business will survive but with a smaller profit margin per item… But the consumer will be able to by more items.

Maybe Wal-Mart will not need the consumer to use food stamps and our taxes can be used in other more important areas...Heaven forbid maybe to reduce taxes on businesses...Why not try it what do we have to loose...corporate welfare is not working so good today.

Butch

The businesses like walmart and target will survive. The little mom and pop business that are already operating on a small profit margin will not. They as consumers will not be able to buy more items because they will have declaired bankrupcy and be broke. But it will all be good because at that point we can add them to the medicaid roster and that will be more people signed up for healthcare. Good thing there will still be a walmart down the road that they can use their foodstamps at. But your right, business will survive.

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:52:05 AM

kdsub

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thishereboi I believe you are wrong. Remember this will raise the cost of business across the board...all business small and large will need to pass along some of this cost to the consumer and this is to be expected. Business will survive...in fact with more money to spend people may spend money on small business instead of dirt cheap goods from Wal-Mart.\

Now I am aware it may not work as I propose... but it is time to try something different... we know the economy is not working today.

If nothing else it will move the money for tax support aid away from government and move it out into the economy.

Butch

_____________________________

Mark Twain:

I don't see any use in having a uniform and arbitrary way of spelling words. We might as well make all clothes alike and cook all dishes alike. Sameness is tiresome; variety is pleasing

(in reply to thishereboi)

Post #: 15

RE: the poor are eating their bottom line....oh noes - 2/2/2014 8:53:02 AM

Yachtie

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Joined: 1/18/2012
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quote:

ORIGINAL: kdsub

Where... it has not been shown to me...by the way tell me when EVER the minimum wage has been a living wage in the past.

Butch

Here's one explanation of income inequality.

The minimum wage was never meant to be a living wage, not as I understand the MW to be. The MW puts an artificial floor for all workers. For example, does a 16 y/o, living at home, working their first job at McDonalds need a living wage?

People constantly focus on the wrong thing(s).

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

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RE: the poor are eating their bottom line....oh noes - 2/2/2014 9:03:53 AM

kdsub

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I see no support for your position in the link you provided.

Minimum wage was meant to be the lowest amount of money a family can subsist on...will they are not subsisting. Minimum wage was never meant to be a below poverty wage where Federal aid is required to make ends meet.

Now I will grant you it was never intended to spur the economy either...but that does not mean it will not do exactly that.

We... meaning you and I... for I at one time voted for the party that supported trickle down economics and thought it was worth a try. Well it has not worked... So why not try another method and see if it does.... And if it does not then try a third method... but doing what has failed in the past or nothing will not help.

Butch

< Message edited by kdsub -- 2/2/2014 9:04:35 AM >

_____________________________

Mark Twain:

I don't see any use in having a uniform and arbitrary way of spelling words. We might as well make all clothes alike and cook all dishes alike. Sameness is tiresome; variety is pleasing

(in reply to Yachtie)

Post #: 17

RE: the poor are eating their bottom line....oh noes - 2/2/2014 9:04:35 AM

Moonhead

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Joined: 9/21/2009
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quote:

ORIGINAL: Yachtie
For example, does a 16 y/o, living at home, working their first job at McDonalds need a living wage?

No, but somebody working the same job to pay their rent and living expenses does.

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I like to think he was eaten by rats, in the dark, during a fog. It's what he would have wanted...
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Post #: 18

RE: the poor are eating their bottom line....oh noes - 2/2/2014 9:51:20 AM

LishonTov

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Joined: 12/31/2013
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IMHO the debate about what the minimum wage should or should not be is ludicrous. Wages or salaries are just one sort of price. Price is the instant valuation given anything. There is no such thing as the "right price". The value of a thing (in economics obviously, not morals) is whatever the owner and the potential buyer agree on. There is no inherent value in anything. A brick of gold is just a heavy paperweight if no one is interested in buying it.
When we look at wages in these terms, the wage is the price that two parties agrees to accept, the seller (worker) and the buyer (employer).
Does any government have the Right to insert itself in the affairs of responsible adults? No. Though some governments may use the inherent threat of force to effect the marketplace, it is might without right.
If I have a pound of ________, and I want _____ dollars, and you want to pay no more than _________, we either compromise on a number we both benefit from or we do not do business. Period.
In regard to work and wages, if a responsible adult is willing to sell his time and labor for ________ and an employer will pay only _______, either they compromise on a number that both derive some benefit from, or they do not, period.
The Minimum Wage concept implies that there is some third party involved, someone who claims his decision is better than the one negotiated by the prospective buyer and seller. Though there are pragmatic reasons to oppose Minimum Wage, they are dangerous to make. By making those arguments one concedes the primary point. I say even IF Minimum Wage is increased or decreased and some socioeconomic benefit is gained, nevertheless it is gained at the expense of reality. Reality dictates prices. Fiat prices ALWAYS result in black-markets, just as water will always find its precise level.

(in reply to Moonhead)

Post #: 19

RE: the poor are eating their bottom line....oh noes - 2/2/2014 10:14:55 AM

Yachtie

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Joined: 1/18/2012
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quote:

ORIGINAL: Moonhead

quote:

ORIGINAL: Yachtie
For example, does a 16 y/o, living at home, working their first job at McDonalds need a living wage?

No, but somebody working the same job to pay their rent and living expenses does.

So, what's en employer to do?

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to Moonhead)

Post #: 20

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