The Robber barons of the new millenium are much richer than the old robber barons.
Black Friday is best known as the day when big-box retailers rake in money, but it has also become a time for some of their employees to demand a share of the proceeds. At Walmart, this year’s Black Friday protests will be the widest-reaching ever, organizers say, with pickets and strikes planned at 1600 stores in 49 states to remind shoppers that the people serving them often can’t afford to feed themselves.
“I have to depend on the government mostly,” says Fatmata Jabbie, a 21-year-old single mother of two who earns $8.40 an hour working at a Walmart in Alexandria, Virginia. She makes ends meet with food stamps, subsidized housing, and Medicaid. “Walmart should pay us $15 an hour and let us work full-time hours,” she says. “That would change our lives. That would change our whole path. I wouldn’t be dependent on government too much. I could buy clothes for my kids to wear.”
The nation’s largest employer, Walmart employs 1.4 million people, or 10 percent of all retail workers, and pulls in $16 billion in annual profits. Its largest stockholders—Christy, Jim, Alice, and S. Robson Walton—are the nation’s wealthiest family, collectively worth $145 billion. Yet the company is notorious for paying poverty wages and using part-time schedules to avoid offering workers benefits. Last year, a report commissioned by Congressional Democrats found that each Walmart store costs taxpayers between 900,000 and $1.75 million per year because so many employees are forced to turn to government aid.