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Walmart is coming under fire for shortchanging its own employees.

Come Black Friday (which for many big retailers has become a two-day affair starting on Thanksgiving), Walmart will again be facing strikes and protests from workers upset with the corporation's low pay.

As usual, comedian Stephen Colbert hit the nail on the head. “Walmart is taking care of its employees... Not living wage care, but can of peas care.” The late-night satirist was responding to a Cleveland Plain Dealer article finding that Walmart set up a Thanksgiving food drive to benefit its own needy employees.

So it turns out that Walmart could afford to give its workers a nice raise without jacking prices if it simply redirected profits now used to buy back its own stock to better reward its huge labor force -- the people, by the way, who make the profits possible. This is the finding of a Demos report published yesterday, one that echoes our earlier report on retail wages. 

Walmart can easily afford to raise pay for its low-wage workers by $5.83 an hour, to an average wage of $14.89, a new report from progressive think tank Demos concludes. All the retail giant has to do is stop its massive stock buybacks—which only serve to enrich a shrinking pool of shareholders, not to improve productivity—and put that money toward its workers.

Walmart spends $7.6 billion a year buying back shares of its own stock:

Wal-Mart could afford to hike every U.S. employee’s hourly wage to at least $14.89 an hour just by not repurchasing its own stock, according to a new report from the progressive think tank Demos.

Walmart, enmeshed in a debate over low wages highlighted by a food drive for employees at a Canton store, can significantly raise the salaries of sales clerks and other workers without having to find additional money for the pay hikes, says a research brief by a think tank.

A progressive policy research center says that the nation’s largest retailer could easily afford to increase the wages of its employees, if it would choose to avoid “Wall Street financial maneuvers.”

A new brief by the national public policy organization Demos analyzes one way Walmart can raise worker pay to meet employees’ $25,000 benchmark target. A Higher Wage is Possible: How Walmart Can Invest in Its Workforce Without Costing Customers a Dime details how Walmart can give workers a raise by redirecting the funds spent annually on buying back shares of Walmart’s own company stock.

“We are on strike today to have respect and dignity at work,” says Walter Melendez, one of approximately 40 Los Angeles port truck drivers who walked off the job at 5a.m. morning in protest of alleged unfair labor practices. The strikes featured the rolling “ambulatory pickets” that the truckers have excelled at—chasing down trucks as they leave the port and setting up picket lines in front of them.

In the past week, both a senior editor at Fortune magazine and the liberal think tank Demos have made similar proposals for how Walmart could greatly increase worker wages without harming its business prospects.

You can explain the current plight of the American middle class in three sentences. Timothy Egan did in the New York Times this week:

Here's a question for every reader of this post who lives in a major metro area and has at least a college degree: How many people do you know who make under $40,000 a year?

Exclude that artist friend who's husband is in finance. And eliminate younger people still paying their dues. I'm talking about people who really earn under $40,000 year. 

Give them jobs. That's the most important answer to the serious economic crisis gripping young America, which faces double digit unemployment rates for some groups -- levels rivaling that of the Great Depression. 

Of course, creating jobs sounds very complicated -- a multi-part process of "stimulating" economic growth to boost demand so that employers add more workers. In fact, though, creating jobs is one of the easiest things for government to do: Just use public dollars to directly hire workers and, presto, government has created jobs. 

Washington is in its usual state of hysteria this week -- now over the Obamacare rollout -- so, as usual, few people in power are talking about the biggest problem facing the country: a still-stagnant labor market that has stranded millions in a jobless hell, with real unemployment rates for some groups at Great Depression levels. 

As a retiree with a defined-benefit pension; a former public employee who defended public workers’ pension benefits for decades; and an advocate who, after leaving the Service Employees International Union, chose to spend several years trying to create a national effort to build a new all-American retirement system, I want to offer my perspective on some of the recent pension issues in Rhode Island.

Generational theft has occurred on a massive scale.

Wal-Mart Stores is the country’s biggest private employer. Its low wages have incited labor protests and congressional criticism, and have created a cottage industry of public policy research.