TexasCHLforum.com

Who gets the sales tax revenue in Texas? City/county? State? Split somehow?

Jaguar wrote: I thought you were referring to Adam Smith's Wealth of Nations. I almost fell out there for a second - no emotion sure, but fun, short and easy - not so much.

I was. The article applies some of those principles to another Walmart situation, equally foolish.

Jumping Frog wrote: Read a Forbes article on an exhaustive economics study that concluded Walmart's impact on the economy has reduced the overall Consumer Price Index inflation rate by an average of 1% per year over the last 20 years.

Even if you choose not to frequent Walmart, you still benefit directly from their influence in keeping overall prices down. After all, other businesses have to compete with Walmart too. For example, if you are one of those people who say, "I won't buy cheap Chinese junk", you are still benefiting on your American-made purchases when the American producer is under pressure to remain competitive on the price/quality/value continuum.

Thanks to our wage and benefits structure relative to the Asian economies, resulting in manufacturing cost so low that they can afford to pay shipping and import costs and STILL undercut US manufacturers, if you are unwilling to buy "cheap Chinese junk" you are likely going to buy expensive Chinese junk, since relatively few products are actually manufactured here these days, start to finish. Almost all clothing, textiles, electronics are imports and a lot more.

We also have to nod our caps to our relentless willingness to find the best bargain, the cheapest price. Like Mrs. B of Nebraska Furniture Mart, now a Berkshire Hathaway subsidiary, used to say, "If you have the lowest price, they'll find you even at the bottom of a river." Nobody will pay $5 when everyone else is buying for $4.

I suggest a re-reading, and understanding, of Adam Smith's works. Very little has changed since Mr. Smith set it out, except the examples. The recent move by DC to force "living wage" is another example of wrongheaded idiocy on the part of politicians. Here is an article that explains the basics: http://www.forbes.com/sites/timworstall ... -solution/

Might as well read it.

I have never understood the vitriol against Walmart. It is quite irrational, frankly. The company would not be the world's largest retailer if it were not pleasing customers, lots of them, offering the goods and services they want to buy at attractive prices. Operating efficiently, competing, is a requirement for success in commerce, and nobody does that better than Walmart.

The only part of it I understand is the opposition of union members who can't stand to see non-union businesses, or governments, prosper. Not that I agree with it, but I understand their opposition. OTOH, nobody has ever seen Walmart employees marched in to work with guns at their heads. Customers either, for that matter!

Perhaps some don't like the customers, some of whom have attracted ridicule.

Attracting crime is a joke. It's not like they were turning it into Indian gaming or a race track or a brothel, for crying out loud.