Bernie Sanders made a fool of himself, crashing the Walmart shareholders meeting for political grandstanding purposes, and then spewing ignorance about how publicly traded companies operate.
Unfortunately, Walmart humored him, doing itself no favors, given the damaging impact of believing anything he says about business. He called for a minimum wage hike. He made absurd claims about company ownership. He mixed up revenues with profits, unable to distinguish between the two. Yet instead of throwing him out as a stooge of the boobocracy, they nodded agreement, maybe hoping he’d go away.
Doesn’t work that way with guys like Sanders, unfortunately.
Be that as it is, John Merline has a good one over at Issues & Insights laying out a vigorous defense of free markets. His argument is the argument Walmart should have used instead of meekly going along with Sanders’ ignorant 1930s-style tropes about capitalist pigs or whatever – here’s just one passage from a lot of them:
Sanders goes on to talk about how big and profitable Walmart is, and “surely with all of that, Walmart can afford to pay its employees a living wage of at least $15.”
Read the full story from American Thinker
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