The Chicago City Council is currently debating legislation to force large corporations, those that sell $1 billion annually and operate a store over 90,000 square feet, to pay a living wage ($10/hr + $3 in benefits) if they wish to operate within city limits.
The debate is very heated as proponents of the city ordinance believe it will balance out the negative effects these corporations tend to have on a community, such as driving small businesses to the ground. Opponents claim that this legislation will cause such giants to leave the city, thus robbing people of thousands of jobs.
However, will these giants actually leave Chicago, a thriving city, because their profits will be a couple million less than they expected? I think not. I think these corporations are greedy-enough to pay what they have to pay. They'll likely find ways to hire less people. Nevertheless, it is more likely they'll raise their prices. This will be bad for low-income families. But at least residents will be making more money and have better benefits. We have experienced significant inflation without raising wages. It is time to move along with inflation and pay our workers more. Since companies like Walmart pay low wages, many of their employees request some sort of welfare to make up for the low pay. Taxpayers, as a result, are screwed because of corporate greed.