Grayson: Walmart is ‘the largest reci...

Grayson: Walmart is ‘the largest recipient of public aid in the country’

Posted in the Minneapolis Forum

non-starter

Saint Paul, MN

#2 Nov 27, 2012
Welfare Walmart wrote:
Grayson: Walmart is ‘the largest recipient of public aid in the country’
Source: Raw Story
“Representative-elect Alan Grayson (D-FL) said Monday that he will put mega-retailer Walmart squarely in his sights during the next Congress for the company’s liberal use of public assistance programs to supplement their workers’ wages… Grayson called Walmart “the largest recipient of public aid in the country,” saying their low wages force workers to take food stamps, housing assistance and Medicaid just to get by.
“The taxpayer pays for the earned income credit,” he said.“The taxpayer pays for Medicaid. The taxpayer pays for unemployment insurance when they cut hours down. And the taxpayer pays for other forms of public assistance like food stamps. I think the taxpayer is getting fed up of paying these things when, in fact, Walmart could give every employee its got, even the CEO, a 30 percent raise and still be profitable.”
He added that while the health care mandate in the Affordable Care Act will help,“that’s just the start. In state after state after state, Walmart employees represent the largest group of Medicaid recipients, the largest group of food stamp recipients, and taxpayers shouldn’t have to bear that burden,” Grayson said.“It should be Walmart. So, we’re going to take that burden and put it where it belongs: on Walmart.”
Read more: http://www.rawstory.com/rs/2012/11/27/grayson...
I would love to see Rep Grayson's data supporting his stance that WalMart could give every employee a 30% raise and still be profitable. We could give every congressman a 50% raise over the last 20 years and still get nothing done, that is a fact. Grayson's statement is a load of bunk.
non-starter

Saint Paul, MN

#3 Nov 27, 2012
Welfare Walmart wrote:
Grayson: Walmart is ‘the largest recipient of public aid in the country’
Source: Raw Story
“Representative-elect Alan Grayson (D-FL) said Monday that he will put mega-retailer Walmart squarely in his sights during the next Congress for the company’s liberal use of public assistance programs to supplement their workers’ wages… Grayson called Walmart “the largest recipient of public aid in the country,” saying their low wages force workers to take food stamps, housing assistance and Medicaid just to get by.
“The taxpayer pays for the earned income credit,” he said.“The taxpayer pays for Medicaid. The taxpayer pays for unemployment insurance when they cut hours down. And the taxpayer pays for other forms of public assistance like food stamps. I think the taxpayer is getting fed up of paying these things when, in fact, Walmart could give every employee its got, even the CEO, a 30 percent raise and still be profitable.”
He added that while the health care mandate in the Affordable Care Act will help,“that’s just the start. In state after state after state, Walmart employees represent the largest group of Medicaid recipients, the largest group of food stamp recipients, and taxpayers shouldn’t have to bear that burden,” Grayson said.“It should be Walmart. So, we’re going to take that burden and put it where it belongs: on Walmart.”
Read more: http://www.rawstory.com/rs/2012/11/27/grayson...
Walmart lost $15.7 billion last year on sales of $447 billion. I guess a 30% raise on everyone gets them to even then?

http://en.wikipedia.org/wiki/Walmart

The data is on the right side of the page, profit under "Net Income", for those of you who can't cipher on your own.
The Truth

Minneapolis, MN

#4 Nov 27, 2012
You idiot!

From your link at http://en.wikipedia.org/wiki/Walmart

For the fiscal year ending January 31, 2011, Wal-Mart reported a net income of $15.4 billion on $422 billion of revenue with a 24.7% gross profit margin). The corporation's international operations accounted for $109.2 billion, or 26.1%, of total sales.[2] It is the world's 18th largest public corporation, according to the Forbes Global 2000 list, and the largest public corporation when ranked by revenue.[117]
non-starter

Saint Paul, MN

#5 Nov 27, 2012
The Truth wrote:
You idiot!
From your link at http://en.wikipedia.org/wiki/Walmart
For the fiscal year ending January 31, 2011, Wal-Mart reported a net income of $15.4 billion on $422 billion of revenue with a 24.7% gross profit margin). The corporation's international operations accounted for $109.2 billion, or 26.1%, of total sales.[2] It is the world's 18th largest public corporation, according to the Forbes Global 2000 list, and the largest public corporation when ranked by revenue.[117]
And 2012 is a $15 billion loss. Check it out, but I guess you get to pick year old data over current year to support your position. Nice, pick a point in time that supports your supposition and run with it, never mind that it is no longer a valid point. Check out 2012 numbers on the left side.
non-starter

Saint Paul, MN

#6 Nov 27, 2012
The Truth wrote:
You idiot!
From your link at http://en.wikipedia.org/wiki/Walmart
For the fiscal year ending January 31, 2011, Wal-Mart reported a net income of $15.4 billion on $422 billion of revenue with a 24.7% gross profit margin). The corporation's international operations accounted for $109.2 billion, or 26.1%, of total sales.[2] It is the world's 18th largest public corporation, according to the Forbes Global 2000 list, and the largest public corporation when ranked by revenue.[117]
I meant on the right side of the article in Wikipedia.
The Truth

Minneapolis, MN

#7 Nov 27, 2012
Wal-Mart slipped to No. 2 in the Fortune 500 in 2011 after holding onto the top spot for two years in a row. The retailer was forced to aggressively cut prices to reverse its declining same store sales in the U.S. That helped push revenues up by 6% during 2011, to $447 billion, but it hurt Wal-Mart's bottom line -- profits declined by 4.6% during the year, to $15.7 billion.

The world's largest retailer has struggled to maintain growth at its U.S. stores, even as the economy has shown signs of recovery. Although the unemployment rate has fallen, the housing market remains unstable and consumer spending hasn't reflected a new attitude for many Americans.

Wal-Mart's international business continues to be a source of growth for the company -- revenues outside the U.S. rose by 13.1% last year, to $35.5 billion. But one key growth market for Wal-Mart, Mexico, recently hit a major roadblock after a sweeping New York Times story reported bribery allegations by the retailer there.

http://money.cnn.com/magazines/fortune/fortun...

Do you get it yet? The red arrow means that PROFITS declined! How much of an idiot are you?

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