Spare_change
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- Jun 27, 2011
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- #101
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.
It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?
last year Walmart made $132B in gross profit.
What tax rate did they pay?
They paid 3% of total revenue in ALL taxes. The American worker pays 12% of wages in taxes.
Nice sleight of hand ....$132B in gross profit, and ONLY 3% of total revenue in taxes. When you're trying to hide something, the best way is to change the point of reference, right?
In case you didn't notice - and I'm sure you didn't - that means that Walmart paid $15 billion in taxes (on $488 billion total revenue). You also probably didn't notice that this was GROSS profit. Gross profit is defined as:
Revenue - (Direct materials + Direct labor + Factory overhead)
It does not include administrative costs (to include those costs necessary to maintain the work force - vacations, healthcare, etc.) Gross profit is a generally useless measurement of the efficiency, profitability, or value of a business. It is simply an intermediate step in the calculation of net profit (which IS a valid measurement of efficiency, etc.)
If you want to tell a story, at least tell the truth. Don't try to hoodwink the reader.