Re: Say NO NO NO to Wal-Mart!!!

Maren Purves wrote:

> Jonathan Ball wrote:
>
> > Doug Kanter wrote:
> >
> > > "Jonathan Ball" <[EMAIL PROTECTED]> wrote in message
> > > news:[EMAIL PROTECTED]
> > >
> > >
> > > > People earning minimum wage don't generally have families.
> > >
> > >
> > >
> > >
> > > Where did you hear that???
> >
> >
> >
> > Here's some more typical leftist BULLSHIT about Wal-Mart (a place at 
> > which I don't shop):
> >
> > "But Wal-Mart's PR slogan "Our People Make the Difference" does 
> > capture a truth. Based on the company's profit and employment figures, 
> > I calculate that each employee generates more than $11.20 in new 
> > wealth for every hour she works. The average U.S. employee is paid an 
> > average hourly wage of $7.50, and the balance – about $3.70 – goes 
> > back to Arkansas as profit."
> >
> > http://www.alternet.org/story.html?StoryID=17060
> >
> > Wrong from the get-go.  An employee doesn't generate *wealth* per 
> > hour.  An employee generates revenue or income.  Income is a flow; 
> > wealth is a stock.
> >
> > The $3.70 does not all "go back to Arkansas as profit".  That $3.70 
> > pays the suppliers, pays the rent on the land, pays utilities, pays 
> > local and corporate taxes. In fact, you have no way of knowing how 
> > much of it is profit, unless you look at Wal-Mart's annual report.
> >
> > The author, some economics-illiterate named Stan Cox, is a fool.  He's 
> > writing inflammatory bullshit.  Stupid leftists gobble it right up 
> > like caviar.
>
>
> you left out a few major ones: employers portions of social security and
> medicare, unemployment, workers comp., short term disability ins., which
> alone make up about a 25% add-on to wages in for jobs with low workers comp
> rates ...

Someone already pointed it out to me.  I forgot about 
those; I was previously aware of them.  It's an 
important point, though, and deserves extra emphasis.