Wash D.C. Targets Wal-Mart

D.C. mayor Vincent Gray, left is salivating over digging into the back pockets of retailers in his city.

The D.C. city council voted on an absurd law that forces big box employers to pay workers what the council and the unions deem a 'living wage.'  Union speak for wage extortion.

The gist of the law is to drive business out of business, of course.  Wal-Mart's margins are razor thin and can't take a full 50% hike in their labor costs.

Wal-Mart delivered an appropriate ultimatum to city lawmakers promising to kill plans for at least three of the new stores if the super-minimum-wage proposal becomes law.  D.C. passed the law despite the warning. And now Wal-Mart made good on it's threat - it killed those plans.

The D.C. law singles out retailers with sales of $1 billion to pay employees a minimum of $12.50 an hour. The city’s minimum wage is $8.25.

Though the law affects Home Depot, Costco and Macy’s too - unions made it clear the real target is Wal-Mart in specific. Wal-Mart was scheduled to open six stores, employing up to 1,800 people. But with the defiant city thumbing their collective noses at Wal-Mart the big employer is gonna move to Maryland no doubt.

Such wage extortion is deja-vu for Wal-Mart.  The giant discounter went through this in Chicago last year. Chicago backed down smartly when faced with the job losses.  D.C. made a mistake and kissed their union pals asses so now the city will destroy far more jobs and lose far more tax revenue than any tiny wage extortion will muster.

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