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Tuesday, July 30, 2013

Low wages big profits

Apple, Walmart and McDonald's are among the largest corporate employers and  profit-makers in the U.S., with a total of 2.6 million employees worldwide (1.6 million in the U.S.) and combined 2012 pre-tax profits of more than $88 billion.

 Walmart makes over $13,000 in pre-tax profits per employee (after paying them), which comes to more than 50 percent of the earnings of a 40-hour-per-week wage earner. Four members of the Walmart family made a combined  $20 billion from their investments last year. Less than half of that would have given every U.S. Walmart worker a $3 an hour raise, enough to end the public subsidy.

McDonald's $8 billion profit, after wages are paid, works out to $18,200 per employee.

Apple’s 2012 profit of $55 billion ($19 billion declared in the U.S.) saw  Apple making  an astonishing $697,000 per employee in 2012 (almost  $400,000 in the U.S.).  Apple pays its U.S. employees only $1 for every $8 in profits.

From Here


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