The Maryland state legislature recently passed legislation requiring all businesses with 10,000 or more employees to spend at least 8% of their payroll on health care. Ostensibly, the state's goal is to reduce its Medicaid burden by requiring large employers, such as Walmart, to shoulder more of the burden. Now, assuming that Walmart does not have an endless pool of money in which to dole out more health care on its employees and continue its other operations at their current funding levels, what sort of tradeoffs is Walmart likely to make? Let me make one prediction: Walmart will reduce the wages it pays its workers in order to offset the impact of the higher health care benefits. It's not clear to me if Walmart's workers will be better off in the end. What other tradeoffs do you think Walmart (and the other large employers) will make?