A $10.10 Minimum Wage Would Make A DVD At Walmart Cost One Cent More

February 21, 2014 | | ThinkProgress |

Raising the minimum wage to $10.10 an hour would increase the price of a $16 product at Walmart, such as the typical DVD, by just a cent if all of the extra costs were passed on to consumers, according to an analysis by an economist for Bloomberg News. [...]

There are also other ways the company could increase pay for its employees without needing to raise its prices. A report from think tank Demos argued that instead of putting $7.6 billion on buying back shares of its own stock, it could use that money to give its workers a $5.83 raise, which would ensure they would all make over $25,000 a year when working full time. That has been one of the key demands made by striking workers over the past year.

Businesses like Walmart don’t just potentially benefit from higher sales when Americans have more money. They can also see benefits within their own workforces, such as improved efficiency and lower turnover.

Read the Demos report: A Higher Wage Is Possible