Repeal minimum markup law

Would you like to save money on the things you buy? Then tell your lawmaker to vote to repeal Wisconsin’s Unfair Sales Act. That law has been on the books for 75 years, but some in Madison are increasing their calls for getting rid of it. Also known as the Minimum Markup Law, the Unfair Sales Act prevents retailers and wholesalers from selling products for less than cost. The law mandates formulas for minimum price markups of anywhere between 3 and 9 percent, depending on the product. Getting rid of the law means we get to keep more money in our pockets. If a store wants to sell something for less than what it costs them, why should government stand in the way? Why should the government keep prices artificially high for the things we buy, like gasoline, or alcohol? Just ask the Michigan based retailer Meijer, which has been expanding in Wisconsin. But the grocery chain now faces a state investigation into whether it’s deals are so good, they’re illegal. The chain says it has never encountered such restrictions in any other state. According to a store spokesman, “We are not accustomed to regulations that limit our customer’s ability to save money.” And they shouldn’t. If a store wants to give us a deal, our government should let them. It is time for this depression-era law to go, so we can keep more of our money in our pockets.