You know, I really wasn’t sure how to vote on California’s Proposition 72, but a NY Times article today really helped clarify my thinking on the process.
Here’s a key point:
[Wal-Mart] says it spent about $1.3 billion of its $256 billion in revenue last year on employee health care to insure about 537,000 people, or about 45 percent of its work force. Wal-Mart says that 23 percent of its employees are not eligible for coverage, but that it covers 58 percent of those who are.
That compares with an insured rate of 96 percent of eligible full-time or part-time employees of Costco Wholesale, the discount retailer that is Wal-Mart’s closest competitor nationwide. Costco employees – most of whom are not represented by a union – become eligible for health insurance after three months working full time, or six months part time.
I have my concerns about the possible negative imact on employers of forcing them to either offer health insurance tor pay into a state pool. The job market out here is still pretty tight and I would hate to see it get tighter. But if Costco can do it and still be profitable, then Wal-Mart’s claims are obviously wrong. My “screw you, Wal-Mart” drive starts to kick in.
I’m going from being on the fence to voting “Yes” on 72.
Side note – I should get off my butt and shop at Costco more.