"Businesses that pay less than living wages don't deserve to exist" - President

I'm saying... if you keep all your eggs in one basket.... anything can mess you up, like IRS freezing your accounts while they audit you, identity theft drains your account (and yes, I know you can get that money back, but that takes time and if you need to pay your mortgage.... they don't wait)

We use the envelope system for bills and keep that money in a safe at the house. I also use a savings account, at a bank I don't have my checking account. That way, if my debit card numbers get hacked by someone in chicago, he doesn't have access to my savings, as well.

I still get a paper check so if my account is frozen, it's not automatically getting my paycheck.

 

Hitting rock bottom and continuing to dig I see.............. Its painfully obvious you are arguing accounting with an accountant and have painted yourself into a corner.

Wal-Marts profit margins are minimal at best.........Your average business cannot survive on these margins.

you make the typical mistake of looking at the profit dollars and then applying emotion to it.............bad combination.

 

My response was to a comment on inflation and the economy and had nothing to do with debt which does relate to the topic. In any case, I did not bring the topic up. Just corrected some errant thinking.

I like your rule no doubt about it.

I am a constitution loving fiscal conservative. Your comment about Libs loving debt can be equally applied to the GOP. Reagan was the worst if you use numbers that matter. "Increase in the deficit".

Anyone who thinks that the GOP is the party of fiscal conservatism does not know squat about history since Reagan or economics.

 

If you like Stagflation.

 

I don't like any politician, regardless of party affiliation. As far as I am concerned, every last damned one of them are from either Guild. (Thieves guild and liars guild) Mom used to say that the democrats took from everyone and gave it to themselves. Republicans take from everyone and give to big business, with perks. In 1967 mum said we were already conquered and didn't even know it...............
Seems she was right all across the board

 

An accountant that does not understand what Gross Profit means ? Humor.

What is more ridiculous is that you blubber on and make vague claims and accusations without giving support.

An claim without support is worthless.

 

Those were words of wisdom from mum. "we were already conquered".

The difference between the two parties are only surficial to keep the raging masses amused.

We have no universal health care like every other first world country but somehow ours is the most expensive.

How does it happen that Government can be more efficient than the free market ? Simple answer - It can't.

The problem is that we do not have a free and fair market.

Price fixing (not allowing generics) and anti competitive regulations practices are allowed to flourish. This is just one of the oligopolies that Congress and the White House serves.

There are many others.

 

http://en.wikipedia.org/wiki/Gross_profit
In accounting, gross profit or sales profit or gross margin is the difference between revenue and the cost of making a product or providing a service, before deducting overhead, payroll, taxation, and interest payments.

http://en.wikipedia.org/wiki/Net_profit
In accounting, net profit is equal to the gross profit minus overheads minus interest payable for a given time period (usually: accounting period.

This is exactly how she explained it to you. Now tell me she was wrong

 

If the IRS wants your money, they can garnish your wages. A paper check is no protection.

We have accounts at different banks, with different passwords, because we've dealt with identity theft before. The rest of it is a little much, IMO; bill pay and direct deposit are WAY convenient, and reduce the chance of error, losing a check, etc. But whatever works for you.

 

lulz, that someone else had to explain what was painfully obvious from the beginning.

 

I then went to the balance sheet (the first link had a slightly wrong number for Gross profit) and calculated the Gross margin.

This was all clarified:

After which came only disingenuous nit picking. Not ... OK .. I understand what you mean and my argument is X.

Profit margin is not a great figure to use because in includes numerous other expenditures like building new stores. If "Gosh we can only build 50 new stores this year instead of 100" so we can not pay our workers more that is one things.

Crying the blues about " We are only scraping by on a 2% profit margin" is quite another"

That is why I was looking at other measures.

In reality the actual profit margin was 18 Billion/469Billion = 3.8% which is almost double the 2% cited. (if we are going to nit pick)

3.8% on Revenue is a large profit margin for such a big company. 18 Billion /year in profits is large but as any accountant knows this does not tell the whole story of how much money the company is making.

 

Your hilarious. Clearly I was referring to the revenue generated in the fiscal period under 2013 heading. Does it really matter which fiscal period we use.

Either way whether we use 2014 or 2013 numbers the profit margin is higher than 2%.

What you have no done is connected how this factors into your argument in any way... 16/476 = 3.4%

For someone who is such a nit picker one would think you would not have misstated the profit margin by 70%. That is quite a difference don't you think ?

Is there no difference between someone making 200K a year and 340K.

What is more pathetic is your disingenuous reliance on net income to begin with as we both know that there is more than that to the story.

At least I am capable of division which is better than you have shown thus far.

Also, similar to a spelling Nazi, it is not the mark of higher level intelligence to attribute a spelling error to lack of intelligence ... same thing about your nit picking over 2013 numbers.

If you want to hang your credentials out of your pants and measure ... that is fine, but so far you have not even been able to make an argument in support of your claim that Walmart can not afford higher wages or that prices need to go up if wages go up.

 

Wal-Mart employs 2 million Americans.............for arguments sake lets say they all make minimum wage............close to 12 Billion is the added cost of doing business if the wage went from 7.25 to 10.00.

They will not take a 66% hit without compensating with raising costs.

 

'You're.' Stay in school...

Yes, if you are going to accurately determine Walmart's profitability in the current economic climate. Among the many other things, the fact that you couldn't determine when Walmart's earnings releases were was a dead giveaway that you were just unfamiliar with these things.

Congratulations. You found out what the profit margin was after I already calculated it for you...

Listen. It was already explained to you that the Profit Margin determined the profitability of the entire company, not Gross Profit Margin. Gross Profit Margin does not account for anything else, except for the cost of producing goods and services.

The main components of an earnings report investors (and everyone else, for that matter) look at are 1) revenue, 2) earnings per share and sometimes 3) net income.

If you're looking at anything else (like Gross Profits, for that matter), you're not capturing the performance capacity or financial well being of the corporation. It was really baffling why you decided to look at an irrelevant metric.

At least I am capable of division which is better than you have shown thus far.

Your lack of intelligence isn't derived from spelling. It's derived from your inability to just acknowledge that you have zero clue what you are talking about and you don't have a clue about the information you are attempting to research. I might have actually had some level of tolerance for your ignorance, but you're persistent in spewing erroneous rhetoric, despite the fact that it doesn't make sense to anyone.

I haven't exposed my credentials to anyone yet. It was just assumed to PT that I was an accountant, which I am not. I am, however, in the financial industry and I've worked in Capital Markets for over 10 + years. But it doesn't really take an accounted to understand that there is a difference between Gross Profits and Net Profits. Anyone who has done their taxes knows that much.

You assumed (wrongly) that Gross Profits was the money Walmart earned and you just didn't want to own up to your mistake.

I've already made that argument. Walmart keeps (net profits, not gross) 3 cents for every dollar it collects in revenue.

Why do you think it is able to afford higher wages for all of its 1.4 million of its US associates?

 

I don't think Obama ever asked my question about if he was no longer going to use nonprofits that pay their workers minimum wage for vote drives and knocking on doors.

 

What are these 'accounts' when you say 'by all accounts'?

 

I would agree. It makes sense. The contrary dosen't. The minimum wage needs to be higher, 9-10$ an hour, "30 Days on Minimum Wage" proves this.

 

Not every employee is full time and not every one makes minimum. Call it 30 hr/week on average x 50 weeks = 1500 hrs x $2 = 3000/employee/year x 2 million = 6 Billion.

Also you have not taken other things into consideration but... really, what is the point.

 

Clearly you are not interested in having a real conversation.

Just making things up as you go along.

I was investing in stocks in gr 9 with my lawn clipping money.

If you are going to make accusations then back them up. Post where I said Gross Profits were "Earnings"

 

Let's say you want Walmart and McDonald's to exist.

But you don't want people getting a liveable wage working there, and you don't want to keep topping up their wage with food stamps.. So without those, you want Americans to starve to death?

 

they should learn to garden and hunt...............everyone should have a backup plan

 

So? You clearly know just about as much as the average investor, which isn't much.

I never said you said it. I said it was assumed by you.

 

Ad Hom and Insults from an internet Poster .. Gosh, now that makes for a convincing argument.

Mischaracterization of the others position.... Excellent way to get your point across on the playground.

 

I want them to budget their resources better


if you smoke... you should not get food stamps.... smoking is a luxury item they CHOSE to start up and CHOOSE to continue, and put ahead of food.


You can't complain you can't afford food when you pay, what... 5$ a pack.

To people who budget...

food
home
utilities that include cell phone bills
luxuries that include expensive, top of the line cell phones for that plan

is the order of importance....

but too often,

luxuries
food
home
utilities and other bills that include cell phones

 

Good god, why is this so difficult to understand?

Wages are dependent on the market to establish the labor rate for any given field.

Have skills that are in abundance or not very desired? Then they aren't worth much.

Only a fool would believe that it is better to artificially inflate wages than encourage people to further the development of more marketable and higher wage skills.

Liberals... why do you want to hold this country back with such schemes? And you wonder why country's like Japan are killing us. .. it's because they don't have idiots running around demanding some arbitrary wage for nothing.