So I watched the video today, Wal-Mart: The High Cost of Low Prices. The video is from 2006 but is in the news again because Wal-Mart is trying to build inner city stores in New York City. As usual, Wal-Mart is saying they will create 1200 new jobs and generate $10 million in tax revenue. These are true but they are misleading. What they don't tell you is, for every job they create 1 1/2-2 jobs will be lost in the community because other businesses will close. They also omit the fact that these tax revenues aren't new, they are just being shifted from other businesses. Not to mention, real estate values will plummet causing a decrease in property tax revenue.
As Al Norman (founder of Sprawl-Busters) says in the film "They (Wal-Mart) don't get it. When we start talking about quality of life, they start talking about cheap underwear. I keep saying, you can't buy small town quality of life at a Wal-Mart. They don't sell it. But, once they steal it from you, you can't get it back at any price."
Need a local example of this? Clearfield, PA. Clearfield "welcomed" their Wal-Mart Supercenter over a decade ago.Today, there is no place to buy groceries except Wal-Mart and their downtown and other locally owned businesses are struggling. Because everything in Clearfield has closed, and Wal-Mart has no competition, their prices are really high! People think they are getting choice when Wal-Mart comes to town. People think they are getting a "great deal" on stuff. Trust me, once the competition is gone, we all pay more!
I would encourage anyone to watch the documentary, you can find it here: http://thefightback.org/2011/02/yes-says-no-to-walmart/
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