Dollar Tree and its subsidiary Family Dollar are closing 1,000 stores.
According to Dollar Tree CEO Rick Dreiling, who makes 951 times the $14,702 median pay of his employees, “Persistent inflation and reduced government benefits continue to pressure the lower-income consumers that comprise a sizable portion of Family Dollar’s customer base."
Corporate profits account for about 53% of greedflation.
Dollar Tree employees are among the top recipients of government safety net programs, such as Medicaid and food stamps (SNAP) benefits.
Maybe, just maybe, if predatory corporate chain stores like Dollar Tree would pay their employees a living wage, they could generate profit the good old fashioned way, by selling retail goods to customers that need or want them and who are paid enough to afford them.
Corporate welfare is not a legitimate business model. Businesses shouldn't be allowed to rely on government subsidies to make up for starvation wages. Just a thought.
#Greedflation #Medicaid #SNAP #FoodStamps #USPol #USPolitics #DollarStores #FamilyDollar #DollarTree
https://www.cnn.com/2024/03/13/investing/family-dollar-dollar-tree-closing-stores/index.html