Retraction for The Implications Of Raising The Minimum Wage
(Numbers as of 3/30/2016)
March 30th, 2016
My sincerest apologies to my readers and to Walmart for the incorrect information I put out on February 3rd. I stated that Walmart had a net income of $482 billion dollars when it is actually their gross income. If I’m not mistaken their net is approximately $14 billion. So the mistake is a huge error in which I based much of my argument for the increase in the minimum wage on. I feel somewhat obligated to defend my position with a better contention.
According to A List of largest companies by revenue Walmart’s take is $485 billion and it’s on a list with 48 other giants. The 49 companies combined revenue is $9,372,000,000,000 trillion. We get an idea of what a billion is in Who Wants To Be A Billionaire. Let’s try to do the same thing with a trillion dollars. I referenced a $60,000 dollar Mercedes in that blog. With $1,000,000,000,000 trillion you could purchase 16 and a half million cars or 5 million homes at $200,000 a piece. Remember the collective revenue of the 49 largest companies is $9,372,000,000,000 dollars. If their 16,859,799 employees were paid $31,200 dollars a year ($15 per hour) the pay would amount to $526,025,728,800. Subtract that from the revenue and it leaves $8,845,974,271,200 trillion. That’s 44,229,871 $200,00 homes and 147,432,905 $60,000 Mercedes. Even a smaller company with a larger number of employees still fairs well. Foxconn grosses $133 billion. If it paid it’s 1,290,000 million workers a living wage of $15 per hour they would pay out $40,248,000,000 billion and be left with $92,752,000,000 billion. Someone would have a difficult time convincing me that that a company can’t run on $92 plus billion dollars. Especially when the competition has the same constraints. It’s the greatest disparity on the chart; income to employees. Walmart has 2,200,000 employees. They would pay out $68,640,000,000 billion and have $416,360,000,000 billion left to reinvest and take a profit. This is only 49 companies and they could hand every person in the world (including the babies) $1,264 dollars; what about all the other companies? There are 45,508 of them listed in stock exchanges around the world. Small businesses would have to receive subsidies to stay in business and that’s just a part of having a capitalist society. We have to leave competition thriving. Old Rockefeller and Pullman and monopoly practices are not successful examples of capitalism. Tax dollars have to keep our capitalist system from consuming itself. The easiest point to see is that with 1.2 quadrillion ($1,200,000,000,000,000) dollars, including all definitions of money, circulating the world there shouldn’t be misery do to the lack of money. The financial world is far too top heavy and the money is not trickling down to the need of those struggling to make ends meet. There are now 1,826 billionaires in the world with a combined wealth of $6,480,000,000,000 trillion. 540 of those billionaires live in America.
I sometimes have to step back from the facts and figures and the passion of many other plights to realized the most sane thing we could do is implement Occupational Parenting. It solves for the woes that plague mankind. $15 dollars an hour to a parent would be a great place to start. To not be prideful due to the amount of money encircling us but to do the job at hand. I don’t care if the teen at McDonald’s makes the same living wage that I make. Raising my child in a sensible, reasonable Country leading the world to Genople where there are no working poor and laws are created in harmony with the demands of Universe and not someone’s childhood issues of obesity. We would live in a world where we let the creative forces shape the way we do everything and not dictate to God or the Universe what it should be but accept it for what it is and therefore are we. The money will come and so will the imperative of the #1 occupation in the Universe; home keeping. For in that cradle sways the young and all they will become. Until next week; keep your home well.