If Sen. Obama is elected with a Congress controlled by Democrats, unions will be given the power to unionize about every business in the country, and now The Wall Street Journal reports that Wal-Mart warning its managers that its stores will be vulnerable to unionization if Democrats win big. Story is here.

This is not only about Wal-Mart and its profits, more important. It’s about the cost of living and inflation in the U.S. When I shop at Wal-Mart, I save more than 30% on the stuff I buy compared with prices I find at other stores and super markets, especially those that are unionized. People who are concerned about political power pretend Wal-Mart is our enemy. People who worry about the cost of living for America’s poor, know Wal-Mart is one of the best things that ever happened to America.

Wal-Mart pays its workers well and has one of the smartest health benefits programs in American industry, but success breeds envy and makes you a target for competitors and political opportunists.

It’s good to see that Wal-Mart is fighting back, but I don’t know how its decision to take on the left and Obama will play out. Will it hellp McCain and the Republicans or the Democrats.

The answer is not clear. We’re in an entitlement era, and even those who pretend to worry about the poor have little economic literacy and a lot of wealth envy. Time will tell.

Watch the stock today. The market will give us an early reading on whether speculators think this is a smart move by Wal-Mart, or not.

I don’t own WMT.