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Exactly! Isn't it interesting how people are taxed based on their entire revenue before necessities, while companies are taxed based on the portion of their profits after necessities?
This is the fundamental problem of having money in politics with legalized bribing, I mean, lobbying; corporations have a buttload of money and can carve policy to their preference.
The argument behind lobbying is that individuals can lobby as well so it’s all good, but we know in practice that never happens because a person or charitable org doesn’t have the same kind of money.
It’s such a fundamental change that needs to happen that would have massive repercussions in a good way, I just don’t know how it can happen because politicians in our current system are mostly self serving. I am hopeful for Gen Z though, they are likely to enact this kind of change from getting left with nothing.
Same scenario with a company that I won't name to avoid being downvoted to oblivion. They make their salespersons wear blue shirts. They also promote consumerism and destroy the environment with it.
Edit: it's obviously BestBuy.
I did not. I only cared about potential downvotes. I am not being paid by my former employer to keep their nasty secrets for them. I want to expose them, just like the manager who deletes backstore security camera footage to keep his job despite the abuse he does while being covered by his older brother higher up in the company.
I understand wanting to get that shit off your chest tho, it's pretty intense. You should share it on [Glassdoor](https://www.glassdoor.com/index.htm).
The Walmart of the tech world. Move in, undercut everyone drive them out of business, then have a monopoly to raise the prices, cut the labor force and destroy communities.
Yep, 100% that.
And deals to get products for a lower price than competitors can get, sell almost at cost, but push protection plans that make the customer change its product every 1 to 4 years. That's part of how they make money with products such as TVs and some laptops. That's also how they kill the planet and the economy.
I applied to bestbuy so I could get discounts on PC parts but I'm thinking its a good thing they didn't accept me
I gotta get a job but the only people hiring are megacorps
I wanna work local but they aren't hiring
When I was a repair tech, we used to laugh at the gel squads work, it's shoddy at best even though they had better resources we could always tell their work, missing screws, dripping thermal paste entirely too much adhesive cut like it was from Edward scissor hands. Poor training lack of accountability and no one, absolutely no one, giving a fuck. The 3 repair places I worked at have all gone out of business, because they undercut us to hell.
Yeah we got paid a lot more, but a lot more restrictive. Anyone can repair an I phone after a week. Not everyone can look at a system diagnose the problem and give an estimate without 14 layers of tape.
"They could very easily afford to give everyone there a great life, but they choose excessive profits over humanity's well being every day of the week."
That describes corporations and the fascist governments they work with perfectly.
Yup. My favorite was when they started forcing the employees to write down sales for each hour with what they expected to make. Constantly monitoring that we up sell. Constantly raiseing prices. Gobbling up every competitor and running skeleton crews in every store. Paying each of us about $100 a day before taxes. No benefits.
It was so fun watching the store make 4k or more when I closed each night! Now, multiply by over 5,000 stores give or take. Each day.
I never, ever want to work a corporate job again.
Yes, but why should the actual workers be fairly compensated when the oligarchs and their managerial lackeys are so much more skilled and knowledgeable and educated? You're not suggesting that we should treat working class poor people with any shred of dignity or decency?
The sole purpose of their existence is to be exploited for their labour so that the people in suits/khakis can lounge around comfortably all day in front of a screen.
There’s that other post going around about Walmart’s digital shelf tags and “surge pricing” necessities, like a bunch of assholes.
We need to do “surge labor rates.” Oh, it’s Black Friday and you need someone to work? Guess you’ll have to pay me 10x, it’s the going surge rate.”
Y'know... this sort of information could be really useful for motivating people in a class sense. There should be a website where we can publish findings like this - if people were more aware of how much they're being taken advantage of, they would be more motivated to be treated fairly. Money is a big motivator.
All industries are run like this. All of them Ive paid attention to anyway. Its easier to hire a fresh idiot and pay them nothing than treat anybody with dignity. Whatever they are teaching in business school is flat out wrong. There is no way it can be right if this is the outcome. We should have never based society on selfishness and greed.
babes rampant corporate greed IS this country
fun trivia: you can apply this to all countries
let the settler state fall, let the empire crumble into dust and fade away into history. if money is the root of all evil even according to this who care about it, why should it be ruling the world?
its absolutely true that most companies make absurd absolute amount of profit / cash however from a financial analysis point of view the OP doesn't take into account several things. They are looking at things from the POV of "volume sold x price" & labour cost only.
this doesn't factor in:
* overhead (e.g. corporate team spending money on marketing to help shift the product)
* additional cost of labour - benefits (PTO, 401k match etc)
* rent
* research and development costs
* depreciation - whilst a non cash item it hits the P&L and reduces profit and profit is what you need to pay out dividends
* internal rate of return / capital allocation. by paying every staff member 5k a day that would make each warehouse grunt a millionaire each year. realistic? no. sadly the system wont allow it for public companies since they have a fiduciary duty and also no one would provide the investment to a company that spends such a large amount on labour cost.
* debt / financing cost. most companies have crap loads of debt that needs servicing and also pay down / amortisation of principal etc. a business might have a good "EBITDA" (earnings before interest tax depreciation amortisation) but once the interest is taken into account it could have shit profit.
in conclusion, it is disgusting and wrong that companies can make billions in profit, pay their staff minimum wage, lay off thousands to make an additional 100-200m profit to then pay out billions in dividends and share buy backs and then next year require a government bail out. all of that is disgusting and wrong.
HOWEVER. the simplistic view of the world in OP does a disservice to the conversation IMO. I'm pretty sure even in a communist society firms wouldn't be paying staff 1million a year???
That facility ships out 150+ trailers a day at about $35,000 each, 24/7. The revenue for this one factory is $5+ daily. Customers pay for all the shipping through various carriers. I'm estimating daily overhead for the place, including wages, maintenance, materials, to be about $3m. That leaves $2m daily PROFIT.
>no one would provide the investment to a company that spends such a large amount on labour cost.
They would still be making millions of dollars every day. I'll bet the employees would be happy to buy all the shares.
making profit isnt simply enough sadly.
if you have 100 million to invest (for example), and you have a choice of a business that makes 20m a year or one that does 5m you would naturally choose the first all else equal?
loads of businesses are able to make profit but cant survive because they cant compete with more efficient / profitable rivals and hence don't have as good access to capital markets (equity investment / debt) etc to help them grow.
look I'm not defending the system we have as Ideal, its not. but you cant look at something in isolation and say "why arent they happy making this profit, its a big number!"
sadly the way it works is there are certain expectations of companies and that's factored into their share price. if it tanks because they don't hit it then the management team can be voted out / ousted by board / shareholders.
it is what it is sadly, the whole system has to change. what can change however within the system we have IMO is things like preventing dividends / sharebacks if e.g. pension fund is unfunded/under water...if employees are on food stamps/gov assistance...if there is a ratio that is exceeded in terms of top pay vs average worker pay etc etc.
Recently started dealing blackjack and the pay is really unpredictable. We make half is minimum wage as base pay and count on tips to make up the rest of our pay. The job listing said that tips average $24-29/hour but it’s actually $14-19.
It’s maddening because the company is worth billions and the CEO makes SO much. It’s crazy that they won’t just pay us a liveable wage instead of coddling addicts and eating shit for tips.
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
no one does the math but these parasites are raking in trillions of dollars every year and killing us all to do it.
Dont forget government subsidies and tax loop holes
america is a wealth transfer machine that takes from the many and gives to the opulent few.
tax the fuck out of profits
roll it into UBI to back feed the bottom
sometimes i think about how nixon of all people was the last president to propose UBI (in practice) 🫠
That window swung so hard to the right it broke the foundation.
Force trickle down to actually fucking work.
they can still win and we can begin to play. they conned at least two generations with that one.
So it can go straight into imperialist wars
Tax Wealth, Not Work!
Exactly! Isn't it interesting how people are taxed based on their entire revenue before necessities, while companies are taxed based on the portion of their profits after necessities?
This is the fundamental problem of having money in politics with legalized bribing, I mean, lobbying; corporations have a buttload of money and can carve policy to their preference.
It's been proven time and time again that most the proposed laws are written by corporate lawyers.
The argument behind lobbying is that individuals can lobby as well so it’s all good, but we know in practice that never happens because a person or charitable org doesn’t have the same kind of money. It’s such a fundamental change that needs to happen that would have massive repercussions in a good way, I just don’t know how it can happen because politicians in our current system are mostly self serving. I am hopeful for Gen Z though, they are likely to enact this kind of change from getting left with nothing.
smart money
Record profits=record theft from the American people
It’s not just America. It’s Capitalism, it’s the whole world.
NO BUT HONESTLY. WHAT ARE WE GOING TO DO?
Get your family and friends in the same page, join an organization (DSA, IWW, union, whatever floats your boat) and prepare for some tough years ahead
decentralize governance
Only the gūįlløtįńę is real
Same scenario with a company that I won't name to avoid being downvoted to oblivion. They make their salespersons wear blue shirts. They also promote consumerism and destroy the environment with it. Edit: it's obviously BestBuy.
Name the company, you coward
Bestbuy.
Did not put up any resistance at all, you coward
I did not. I only cared about potential downvotes. I am not being paid by my former employer to keep their nasty secrets for them. I want to expose them, just like the manager who deletes backstore security camera footage to keep his job despite the abuse he does while being covered by his older brother higher up in the company.
Relax, I was making a joke
I get it don't worry! I know that sometimes stuff I say simply comes out as kind of intense.
I understand wanting to get that shit off your chest tho, it's pretty intense. You should share it on [Glassdoor](https://www.glassdoor.com/index.htm).
I already did on Yelp, but yeah, Glassdoor is a nice idea! Thank you for the suggestion!
The Walmart of the tech world. Move in, undercut everyone drive them out of business, then have a monopoly to raise the prices, cut the labor force and destroy communities.
Yep, 100% that. And deals to get products for a lower price than competitors can get, sell almost at cost, but push protection plans that make the customer change its product every 1 to 4 years. That's part of how they make money with products such as TVs and some laptops. That's also how they kill the planet and the economy.
I applied to bestbuy so I could get discounts on PC parts but I'm thinking its a good thing they didn't accept me I gotta get a job but the only people hiring are megacorps I wanna work local but they aren't hiring
When I was a repair tech, we used to laugh at the gel squads work, it's shoddy at best even though they had better resources we could always tell their work, missing screws, dripping thermal paste entirely too much adhesive cut like it was from Edward scissor hands. Poor training lack of accountability and no one, absolutely no one, giving a fuck. The 3 repair places I worked at have all gone out of business, because they undercut us to hell.
minimum wage minimum effort ig
Yeah we got paid a lot more, but a lot more restrictive. Anyone can repair an I phone after a week. Not everyone can look at a system diagnose the problem and give an estimate without 14 layers of tape.
"They could very easily afford to give everyone there a great life, but they choose excessive profits over humanity's well being every day of the week." That describes corporations and the fascist governments they work with perfectly.
Yup. My favorite was when they started forcing the employees to write down sales for each hour with what they expected to make. Constantly monitoring that we up sell. Constantly raiseing prices. Gobbling up every competitor and running skeleton crews in every store. Paying each of us about $100 a day before taxes. No benefits. It was so fun watching the store make 4k or more when I closed each night! Now, multiply by over 5,000 stores give or take. Each day. I never, ever want to work a corporate job again.
Cooperatives FTW
Yes, but why should the actual workers be fairly compensated when the oligarchs and their managerial lackeys are so much more skilled and knowledgeable and educated? You're not suggesting that we should treat working class poor people with any shred of dignity or decency? The sole purpose of their existence is to be exploited for their labour so that the people in suits/khakis can lounge around comfortably all day in front of a screen.
smart money
There’s that other post going around about Walmart’s digital shelf tags and “surge pricing” necessities, like a bunch of assholes. We need to do “surge labor rates.” Oh, it’s Black Friday and you need someone to work? Guess you’ll have to pay me 10x, it’s the going surge rate.”
Cake day happy?
Y'know... this sort of information could be really useful for motivating people in a class sense. There should be a website where we can publish findings like this - if people were more aware of how much they're being taken advantage of, they would be more motivated to be treated fairly. Money is a big motivator.
Greed doesn't stop. It has to be stopped
Well that's just slavery with extra steps...
Yeah. Its pretty disgusting the amount that they make. In the end it is us doing the work.
Sounds like we should start a similar company and pay workers more?
All industries are run like this. All of them Ive paid attention to anyway. Its easier to hire a fresh idiot and pay them nothing than treat anybody with dignity. Whatever they are teaching in business school is flat out wrong. There is no way it can be right if this is the outcome. We should have never based society on selfishness and greed.
babes rampant corporate greed IS this country fun trivia: you can apply this to all countries let the settler state fall, let the empire crumble into dust and fade away into history. if money is the root of all evil even according to this who care about it, why should it be ruling the world?
Unionize and claim your part of the cake.
its absolutely true that most companies make absurd absolute amount of profit / cash however from a financial analysis point of view the OP doesn't take into account several things. They are looking at things from the POV of "volume sold x price" & labour cost only. this doesn't factor in: * overhead (e.g. corporate team spending money on marketing to help shift the product) * additional cost of labour - benefits (PTO, 401k match etc) * rent * research and development costs * depreciation - whilst a non cash item it hits the P&L and reduces profit and profit is what you need to pay out dividends * internal rate of return / capital allocation. by paying every staff member 5k a day that would make each warehouse grunt a millionaire each year. realistic? no. sadly the system wont allow it for public companies since they have a fiduciary duty and also no one would provide the investment to a company that spends such a large amount on labour cost. * debt / financing cost. most companies have crap loads of debt that needs servicing and also pay down / amortisation of principal etc. a business might have a good "EBITDA" (earnings before interest tax depreciation amortisation) but once the interest is taken into account it could have shit profit. in conclusion, it is disgusting and wrong that companies can make billions in profit, pay their staff minimum wage, lay off thousands to make an additional 100-200m profit to then pay out billions in dividends and share buy backs and then next year require a government bail out. all of that is disgusting and wrong. HOWEVER. the simplistic view of the world in OP does a disservice to the conversation IMO. I'm pretty sure even in a communist society firms wouldn't be paying staff 1million a year???
That facility ships out 150+ trailers a day at about $35,000 each, 24/7. The revenue for this one factory is $5+ daily. Customers pay for all the shipping through various carriers. I'm estimating daily overhead for the place, including wages, maintenance, materials, to be about $3m. That leaves $2m daily PROFIT. >no one would provide the investment to a company that spends such a large amount on labour cost. They would still be making millions of dollars every day. I'll bet the employees would be happy to buy all the shares.
making profit isnt simply enough sadly. if you have 100 million to invest (for example), and you have a choice of a business that makes 20m a year or one that does 5m you would naturally choose the first all else equal? loads of businesses are able to make profit but cant survive because they cant compete with more efficient / profitable rivals and hence don't have as good access to capital markets (equity investment / debt) etc to help them grow. look I'm not defending the system we have as Ideal, its not. but you cant look at something in isolation and say "why arent they happy making this profit, its a big number!" sadly the way it works is there are certain expectations of companies and that's factored into their share price. if it tanks because they don't hit it then the management team can be voted out / ousted by board / shareholders. it is what it is sadly, the whole system has to change. what can change however within the system we have IMO is things like preventing dividends / sharebacks if e.g. pension fund is unfunded/under water...if employees are on food stamps/gov assistance...if there is a ratio that is exceeded in terms of top pay vs average worker pay etc etc.
Open your own (greed free) company and pay fair wages. Show them!
#GeneralStrike
The only way out is through unions.
Preaching to the choir
Recently started dealing blackjack and the pay is really unpredictable. We make half is minimum wage as base pay and count on tips to make up the rest of our pay. The job listing said that tips average $24-29/hour but it’s actually $14-19. It’s maddening because the company is worth billions and the CEO makes SO much. It’s crazy that they won’t just pay us a liveable wage instead of coddling addicts and eating shit for tips.