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Bernie Sanders rolls out ‘Stop WALMART Act’ that would block stock buybacks until retailer raises pa

Renae

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After his Stop BEZOS Act appeared to help spur Amazon to raise pay for its workers, Sen. Bernie Sanders launched a similar effort Thursday that targets Walmart.The Stop WALMART Act — introduced by both the Vermont independent and Rep. Ro Khanna, a California Democrat — would block big employers from buying back stock unless they pay all employees $15 an hour. Companies also would have to ensure that their CEO’s compensation is capped at no more than 150 times the median pay of all workers, as well as allow their employees to earn up to seven days of paid sick leave.
The full name for the legislation is the Stop Welfare for Any Large Monopoly Amassing Revenue from Taxpayers Act. It defines big employers as those with more than 500 workers.
https://www.marketwatch.com/story/b...buybacks-until-retailer-raises-pay-2018-11-15

**** Bernie and his bots.
 

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Scares me that without Hillary's corruption, this guy would likely be our president right now.
 

Rexedgar

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Scares me that without Hillary's corruption, this guy would likely be our president right now.

Yeah, glad we dodged that ****ing bullet!
 

Abbazorkzog

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This place is devolving into an echo-chamber special snowflake hugbox for the Alt-Reich.
 

Hawkeye10

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This place is devolving into an echo-chamber special snowflake hugbox for the Alt-Reich.

Alternatively maybe it is more representative of America than you are used to.....
 

Keridan

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Yeah, glad we dodged that ****ing bullet!

Honestly don't think there was winning that election. Hillary gave it up to Trump, tho. Not much selection left after her approach.


On actual topic here:

[Edit for clarification - phrased it very badly]

Targeting large companies. Specifically calling your bill by the name of one large company is bad news. The precedent is awful. Bernie wants to force living wage by going after groups like this instead of passing general laws (because they would never pass).

This feels like a grab for attention, except I don't think Bernie wants any more special attention. He's done running for higher office.
 

poweRob

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Xelor

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I'm not nuts about broad based minimum wage (price floor) legislation, I most certainly cannot forbear price floor legislation that targets specific firms.


price-floor-deadweight.jpg
 

Praxas

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Scares me that without Hillary's corruption, this guy would likely be our president right now.

Yeah because as president he would have that ability to order that on his own. :roll: you guys are hilarious, you will support a president like trump who actually HAS attacked the constitution but cry chicken little over sanders. Pathetic.
 

Keridan

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Yeah because as president he would have that ability to order that on his own. :roll: you guys are hilarious, you will support a president like trump who actually HAS attacked the constitution but cry chicken little over sanders. Pathetic.

You'd be pretty hard pressed to find me supporting Trump anywhere. I have many issues with him. At best I might defend the office and holder, but I usually end up wishing he showed it more respect, too.

Sanders is way too progressive for my tastes. Hillary is too corrupt. Trump is too childish and far right.
 

poweRob

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I'm not nuts about broad based minimum wage (price floor) legislation, I most certainly cannot forbear price floor legislation that targets specific firms.


price-floor-deadweight.jpg

It doesn't target specific firms. It is a threshold. If you are a company on wall street employing over 500 employees you can't do stock buy backs unless you pay your employees a $15 minimum wage. The stock buy backs are simply back door bonuses for executives that isn't in their paycheck.
 

Keridan

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It doesn't target specific firms. It is a threshold. If you are a company on wall street employing over 500 employees you can't do stock buy backs unless you pay your employees a $15 minimum wage. The stock buy backs are simply back door bonuses for executives that isn't in their paycheck.

The name is misleading, but you are right about the actual bill.

I really think it's a bad idea to create progressive minimum wages. Another bad idea to target large businesses with that kind of penalty.

I get what he wants to do. Basically living wage for companies large enough to afford it. I can think of half a dozen reasons it's a bad idea, though. It doesn't really matter. It fits his views that he was elected for having, but it won't pass.
 

poweRob

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The name is misleading, but you are right about the actual bill.

I really think it's a bad idea to create progressive minimum wages. Another bad idea to target large businesses with that kind of penalty.

I get what he wants to do. Basically living wage for companies large enough to afford it. I can think of half a dozen reasons it's a bad idea, though. It doesn't really matter. It fits his views that he was elected for having, but it won't pass.

It's trying to recoup from large corporations their penchant of bilking taxpayer subsidized employees for their companies. Where these highly profitably companies are offloading their employees healthcare to medicaid and other government subsidies while their execs do stock buy backs and get insane $'s at the same time.

I don't like stock buy backs for two reasons. The one mentioned above and the second being that it falsifies company health in the eyes of investors by inflating stock prices not due to sales or what the company has produced.
 

Keridan

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It's trying to recoup from large corporations their penchant of bilking taxpayer subsidized employees for their companies. Where these highly profitably companies are offloading their employees healthcare to medicaid and other government subsidies while their execs do stock buy backs and get insane $'s at the same time.

I don't like stock buy backs for two reasons. The one mentioned above and the second being that it falsifies company health in the eyes of investors by inflating stock prices not due to sales or what the company has produced.

I understand your point and I kind of end up in the same place I was already falling. It's what Bernie was elected for. He fought hard on Amazon and Disney and he's probably had more success than any other senator on his chosen battles.

I also think buybacks are bad for the reasons you mentioned. Regulating the market has to be consistent and incremental, though. It's dangerous territory and there have been many surprise problems in the past. I believe a truly free market is horrible. I also think regulation is easy to overdo. It has to be minimized and executed with caution.

There's no way Bernie thinks this law is getting past a republican senate. It will never hit the floor. He's making a move on Wally World.
 
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Stock bye backs should be hindered and highly regulated. This is a very small move of what should be a very big move against such actions on wall street. The only thing that outrages you about this is Bernie's name being a part of it.

Political control of the markets is a really really really stupid idea.
 

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Scares me that without Hillary's corruption, this guy would likely be our president right now.

This would be Bernie Sanders waving his hand, decreeing "Expropriate it!" if he could get away with it.


 
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Beaudreaux

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Legislation that targets a specific company because the powerful people in government don't like that particular company, when that has not broken any laws, is ****ing unAmerican - Stalin like.
 

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Legislation that targets a specific company because the powerful people in government don't like that particular company, when that has not broken any laws, is ****ing unAmerican - Stalin like.

And that's one of several reasons it won't even hit the floor. I promise Bernie is up to something else. This is what he did to Amazon.

Worthy of note: it has been correctly pointed out that the actual bill and name of the bill are not targeting WalMart. They are any large enough business with stock buy-backs.
 

apdst

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Legislation that targets a specific company because the powerful people in government don't like that particular company, when that has not broken any laws, is ****ing unAmerican - Stalin like.

It's straightup communism. The Left isn't trying to hide it, anymore.
 

poweRob

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I understand your point and I kind of end up in the same place I was already falling. It's what Bernie was elected for. He fought hard on Amazon and Disney and he's probably had more success than any other senator on his chosen battles.

I also think buybacks are bad for the reasons you mentioned. Regulating the market has to be consistent and incremental, though. It's dangerous territory and there have been many surprise problems in the past. I believe a truly free market is horrible. I also think regulation is easy to overdo. It has to be minimized and executed with caution.

There's no way Bernie thinks this law is getting past a republican senate. It will never hit the floor. He's making a move on Wally World.

Could be just a move to shame walmart into action the way he has successfully done to Amazon.
 

Keridan

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Could be just a move to shame walmart into action the way he has successfully done to Amazon.

Exactly my thoughts. I don't like the idea of the bill, but he was elected in his state knowing he would do things like this. He's welcome to present it and try to push Walmart into making their own choice.
 

poweRob

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Exactly my thoughts. I don't like the idea of the bill, but he was elected in his state knowing he would do things like this. He's welcome to present it and try to push Walmart into making their own choice.

He shamed bezos into doing the $15/hour minimum for his company now he's on board with a national $15/hr minimum wage. Not a bad guy to have in your corner for the fight.
 

Keridan

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He shamed bezos into doing the $15/hour minimum for his company now he's on board with a national $15/hr minimum wage. Not a bad guy to have in your corner for the fight.

I feel like there was a lot more going on in that fight than just Bernie and some public shaming, but his goals were definitely met. Getting Amazon to move is no small thing.
 

poweRob

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I feel like there was a lot more going on in that fight than just Bernie and some public shaming, but his goals were definitely met. Getting Amazon to move is no small thing.

I think he got Target on board as well.
 
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