Earlier today, Andy joined Maria Bartiromo to discuss the income inequality debate and the 2020 presidential election. Andy argued that Democrats aren’t properly measuring income inequality because they are using pre-tax income and income pre-government transfers while ignoring that, in fact, the top 20% of earners are paying 95% of taxes and that money gets transferred down to the bottom 20% through programs like Medicaid, food stamps, etc. He reminded viewers that there is only one way to reduce income inequality and that is through increasing wages. Under President Trump, wages have increased more than 3% for the past eight quarters.
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Andy also discussed Walmart’s new store, the Intelligent Retail Lab, powered by artificial intelligence. Andy commented that AI will be tremendous for shoppers as it will help stores properly manage inventory and meet consumer needs. Businesses will also be more profitable, which will enable them to hire better employees, open more outlets and ultimately create more jobs.
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