welfare vs wages

[Danzig]

and then there's this:

McDonald's leaves taxpayers responsible for $1.2 billion annually (on a national scale) with YUM! Brands (KFC, Taco Bell, etc.) costing taxpayers $648 million annually. Even more staggering, the McDonald's corporation raked in $5.46 billion last year in profits with an extra $5.5 billion in dividends and stock buyback; they also pay their CEO Donald Thompson $13.7 million per year.


so, with the dividend portion, their profit was 11 billion?! in one year.

poor mcdonalds, they just can't afford to pay their employees more. i bet if they ran one less commercial a day, they could scrape up some extra cash.

[GBBob]

http://www.youtube.com/watch?v=eiRGRvE_Wqg

[dellinger63]

Originally Posted by Danzig

and then there's this:

McDonald's leaves taxpayers responsible for $1.2 billion annually (on a national scale) with YUM! Brands (KFC, Taco Bell, etc.) costing taxpayers $648 million annually. Even more staggering, the McDonald's corporation raked in $5.46 billion last year in profits with an extra $5.5 billion in dividends and stock buyback; they also pay their CEO Donald Thompson $13.7 million per year.


so, with the dividend portion, their profit was 11 billion?! in one year.

poor mcdonalds, they just can't afford to pay their employees more. i bet if they ran one less commercial a day, they could scrape up some extra cash.

And the rest of the story.

$5.46 billion was the net income on sales. There is no 'extra'.

If you go down MCD Annual Income Statement http://www.marketwatch.com/investing...mcd/financials you'll also see they paid $1.32 billion in domestic income tax with another $150.4 million deferred.

Now you want to count extra's? McD's did $27.5 billion in sales. With the aggregate of say 5% sales tax added that's another $1.375 billion in taxes.

There are 13,000 locations in the U.S. With a annual real estate tax on each store of at least $30K that's another 390 million.

Now with the average owner reportedly taking home $200K per year and of course having to pay income tax of 34% that's another $68K a store or another $884 million per year.

So while a 'study' shows McDonalds employees receive $1.2 billion in benefits because of low wages, facts show McDonald's pays over $4.1 billion a year in taxes (not even considering capital gains tax for McD's investors)

Furthermore 5.46 billion profit on $27.57 billion in sales is 19.8 cents for every dollar collected. Meanwhile $4.1 billion in taxes represents 14.8 cents for every dollar collected. McDonalds, develops, buys, transports, prepares, sells and cleans up for their 20 cents. What does the government do for their 15 cents?

Nice living collecting $4.1 billion, giving back $1.2 billion and doing nothing but billing for it. With a whole legion of misinformed cheering for more.

And McD's is evil.