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Just another excuse to wildly raise prices, probably far above the rate of the tariff increase.
Perhaps, instead of passing the full brunt of the costs onto the customers, maybe the executives and shareholders take home less profit? Maybe take a financial hit to easy the cost of living burden on the commoners?
Or maybe starve the people out, and see how many people start playing Luigi's Mansion.
Other commenters are saying this is a good thing, and that this will eventually make thinga better, but lots of people will suffer in the interim, and somehow find this line of thinking acceptable. The oligarchs could ease the plight of the commoners now, they could simply take less profit so families don't have to, they could pass laws now, but they don't.
They could just have easily said, "A Costco executive warned shareholders that potential loss in profits could be a result of President-elect Donald Trump's proposed tariffs."
The other commenters are correct, however, many more will suffer. This is all only going to get worse for us.
Costco's whole thing is that they have a flat markup on all their goods. It's static - price goes down for them, they lower their retail.
They also pay a reasonable wage - my buddy works there and is clearing 31.50/hr + voluntary OT + 6k bonus/yr. Regularly makes 80k a year, just floor staff not management/supervisor.
And they pay their upstream and logistics providers 2-3x market rates as well- my girlfriend works for a major trucking company doing pricing and Costco voluntarily overpays for their lanes so they have more reliable deliveries.
Many many companies price-gouge and underpay their employees or steal wages. Costco doesn't. Fuck Walmart, Safeway, Amazon, etc.
I appreciate you taking the time to reply, and I'm glad not every company is as bad as they possibly could be, but this is going to be a trend.
Be it inflation, or supply line issues, or sanctions, they drum up an excuse to raise prices, and they won't come back down. Based on what you're saying, maybe Costco will come back down, but gas and groceries in other stores will be more hesitant.
I bet even Netflix will use tariffs as an excuse to raise prices somehow. We need collective action, a general strike.
Definitely! Union membership is in decline and so are wages. The boomer generation seems to think the government is the largest negative impact on our lives when it's actually the corporate suits.