Liberal business 101 ($15 minimum wage related)

[Coach is Back!]

Report: Walmart Workers Cost Taxpayers $6.2 Billion In Public Assistance
 
Walmart’s low-wage workers cost U.S. taxpayers an estimated $6.2 billion in public assistance including food stamps, Medicaid and subsidized housing, according to a report published to coincide with Tax Day, April 15.

Americans for Tax Fairness, a coalition of 400 national and state-level progressive groups, made this estimate using data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce.

“The study estimated the cost to Wisconsin’s taxpayers of Walmart’s low wages and benefits, which often force workers to rely on various public assistance programs,” reads the report, available in full here.

“It found that a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers.”

Americans for Tax Fairness then took the mid-point of that range ($4,415) and multiplied it by Walmart’s approximately 1.4 million workers to come up with an estimate of the overall taxpayers’ bill for the Bentonville, Ark.-based big box giant’s staffers.

The report provides a state-by-state breakdown of these figures, as well as some context on the other side of the coin: Walmart’s huge share of the nationwide SNAP, or food stamp, market.




“Walmart told analysts last year that the company has captured 18 percent of the SNAP market,” it reads. “Using that figure, we estimate that the company accounted for $13.5 billion out of $76 billion in food stamp sales in 2013.”

Walmart spokesperson Randy Hargrove described this week’s report as “inaccurate and misleading,” referring to its use of extrapolated data and adding that public assistance program eligibility requirements vary from state to state.

“More than 99 percent of our associates earn above minimum wage,” he said. “In fact, the average hourly wage for our associates, both full and part-time, is an average of $11.83 per hour.”

He said the company had no internal figures to share on the number of workers receiving public assistance.

“The bottom line is Walmart provides associates with more opportunities for career growth and greater economic security for their families than other companies in America,” he said. “Our full and part-time workers get bonuses for store performance, access to a 401K-retirement plan, education and health benefits.”

Hargrove added that the number of Walmart employees receiving Medicaid is similar to the percentage for other large retailers — and comparable to the national average.

He pointed to a 2005 report by economist Jason Furman, now a White House adviser, describing Walmart’s Medicaid enrollment as “a reflection of [its] enormous size.”

Other large retail chains have been the focus of similar reports in recent months. In October, two studies released to coincide showed that American fast food industry outsourced a combined $7 billion in annual labor costs to taxpayers. McDonald's MCD +0.47% alone accounted for $1.2 billion of that outlay.

Yum Brands came in at a distant number two, with its Pizza Hut, Taco Bell and KFC subsidiaries costing $648 million in benefits programs for workers each year

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB4QFjAA&url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fclareoconnor%2F2014%2F04%2F15%2Freport-walmart-workers-cost-taxpayers-6-2-billion-in-public-assistance%2F&ei=KBcjVbyLBcnfsAWMgYHIBw&usg=AFQjCNGowhUGm-lzxSblsbHbjrK63qrP9w

I'm off in an hour. I'll be back later tonight to destroy this post.

[bears]

Vince is a businessman and he knows his shit when talking about alot of business type matters but I agree, it won't be that simple of a fix.

I know plenty of guys who are great at what they do and know nothing about anything else.  being proficient at generating business and making money does not preclude you from being a mouth breathing asshat.  I know a bunch of very successful people who I wouldn't trust to babysit my fucking goldfish.

anyone who thinks that raising the minimum wage is a nice thing to do that will help everyone involved just doesn't comprehend basic economics.  i'm not against it necessarily.  I just know that increasing it to $15 is most probably way too aggressive.  and there ARE a lot of bad things that can happen.

we know that increasing the minimum wage has numerous potential drawbacks.  when someone simply denies this.  I think they're stupid.  that's all.

[Coach is Back!]

Report: Walmart Workers Cost Taxpayers $6.2 Billion In Public Assistance
 
Walmart’s low-wage workers cost U.S. taxpayers an estimated $6.2 billion in public assistance including food stamps, Medicaid and subsidized housing, according to a report published to coincide with Tax Day, April 15.

Americans for Tax Fairness, a coalition of 400 national and state-level progressive groups, made this estimate using data from a 2013 study by Democratic Staff of the U.S. Committee on Education and the Workforce.

“The study estimated the cost to Wisconsin’s taxpayers of Walmart’s low wages and benefits, which often force workers to rely on various public assistance programs,” reads the report, available in full here.

“It found that a single Walmart Supercenter cost taxpayers between $904,542 and $1.75 million per year, or between $3,015 and $5,815 on average for each of 300 workers.”

Americans for Tax Fairness then took the mid-point of that range ($4,415) and multiplied it by Walmart’s approximately 1.4 million workers to come up with an estimate of the overall taxpayers’ bill for the Bentonville, Ark.-based big box giant’s staffers.

The report provides a state-by-state breakdown of these figures, as well as some context on the other side of the coin: Walmart’s huge share of the nationwide SNAP, or food stamp, market.




“Walmart told analysts last year that the company has captured 18 percent of the SNAP market,” it reads. “Using that figure, we estimate that the company accounted for $13.5 billion out of $76 billion in food stamp sales in 2013.”

Walmart spokesperson Randy Hargrove described this week’s report as “inaccurate and misleading,” referring to its use of extrapolated data and adding that public assistance program eligibility requirements vary from state to state.

“More than 99 percent of our associates earn above minimum wage,” he said. “In fact, the average hourly wage for our associates, both full and part-time, is an average of $11.83 per hour.”

He said the company had no internal figures to share on the number of workers receiving public assistance.

“The bottom line is Walmart provides associates with more opportunities for career growth and greater economic security for their families than other companies in America,” he said. “Our full and part-time workers get bonuses for store performance, access to a 401K-retirement plan, education and health benefits.”

Hargrove added that the number of Walmart employees receiving Medicaid is similar to the percentage for other large retailers — and comparable to the national average.

He pointed to a 2005 report by economist Jason Furman, now a White House adviser, describing Walmart’s Medicaid enrollment as “a reflection of [its] enormous size.”

Other large retail chains have been the focus of similar reports in recent months. In October, two studies released to coincide showed that American fast food industry outsourced a combined $7 billion in annual labor costs to taxpayers. McDonald's MCD +0.47% alone accounted for $1.2 billion of that outlay.

Yum Brands came in at a distant number two, with its Pizza Hut, Taco Bell and KFC subsidiaries costing $648 million in benefits programs for workers each year

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB4QFjAA&url=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fclareoconnor%2F2014%2F04%2F15%2Freport-walmart-workers-cost-taxpayers-6-2-billion-in-public-assistance%2F&ei=KBcjVbyLBcnfsAWMgYHIBw&usg=AFQjCNGowhUGm-lzxSblsbHbjrK63qrP9w

First off "Tax Fairness" and "Democratic Study" in the same sentence is absolutely laughable. But let's just say for shits and giggles this was accurate. This could be said about almost any business that hires part time from a car wash to a grocery store to fast food joint, etc. Imagine if walmart went under for some reason. Right off the bat you would over 2 million unemployed workers. Those numbers (if true which I would bet are not) are all relative. Again, liberals look at things from a "feelings" standpoint instead of actually thinking about it from a business standpoint which I think most liberals are incapable of doing.

Just because a business has a decent profit margin doesn't mean they can afford to pay more than what a particular employee is worth. If that employee feels like he/she is getting screwed over, they can leave as no one is forcing them to stay. For every one employee that gets fired or leaves you can bet there are a hundred more that would be more than happy to take that job.  

[Coach is Back!]

lol 4 billion a year profit and they can't pay a livable wage,i guess Walmart is glad us tax payers can pay the rest so they [walmart] can just squeak by every year

You're not too bright. Where do think those profit wind up?

[blacken700]

You're not too bright. Where do think those profit wind up?

the three Walton's by themselves make 3 billion a year,that's not the rest of the stockholders that's them alone.your the one that's not too bright if you think its alright for the tax payers to subsidize the rest of the employees income 

[240 is Back]

You're not too bright. Where do think those profit wind up?

LOL WMT doesn't exactly re-invest their profits into their people

The walton family net value goes up 10 to 30 milliion EVERY YEAR.
http://walmart1percent.org/2013/09/16/richest-family-in-the-u-s-now-25-richer/

It's essentially the modern-day serf kingdom, but hey, it's capitalism and it's fair and its voluntary, so I have no problem with it.  But it is what it is lol, they're not good guys, not by a mile, man.

[Coach is Back!]

LOL WMT doesn't exactly re-invest their profits into their people

The walton family net value goes up 10 to 30 milliion EVERY YEAR.
http://walmart1percent.org/2013/09/16/richest-family-in-the-u-s-now-25-richer/

It's essentially the modern-day serf kingdom, but hey, it's capitalism and it's fair and its voluntary, so I have no problem with it.  But it is what it is lol, they're not good guys, not by a mile, man.

So what. As a business it should. Whats the problem? If the company is doing $400bil world wide whats the problem? How much should they make? Dividends and stock options. Welcome to big business. They have over 11,000 stores world wide. How do you think those stores are opened? C'mon Rob. you have an MBA. Figure it out.

[blacken700]

the three Walton's by themselves make 3 billion a year,that's not the rest of the stockholders that's them alone.your the one that's not too bright if you think its alright for the tax payers to subsidize the rest of the employees income 

[Coach is Back!]

You obviously didn't read that long ass reply I gave.

[blacken700]

You obviously didn't read that long ass reply I gave.

you say you don't believe the numbers or the article but it was also reported by Forbes and the WSJ which are not left leaning.it is what it is  believe it or not

[Coach is Back!]

you say you don't believe the numbers or the article but it was also reported by Forbes and the WSJ which are not left leaning.it is what it is  believe it or not

And I also said "let's say for shits and giggles this was accurate". Then I went on to give a reason. Oh wait, I guess you missed that part.

[blacken700]

And I also said "let's say for shits and giggles this was accurate". Then I went on to give a reason. Oh wait, I guess you missed that part.

so let me get this strait your saying you are more knowledgeable then WSJ and Forbes,mmmmmm OK

[Coach is Back!]

so let me get this strait your saying you are more knowledgeable then WSJ and Forbes,mmmmmm OK

That's not even close to what I said. And no, of course not.


[bThis could be said about almost any business that .hires part time from a car wash to a grocery store to fast food joint, etc. Imagine if walmart went under for some reason.][/b]