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View Diary: Math and Walmart (15 comments)

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  •  Thanks (1+ / 0-)
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    Thanks for double checkiing my math.  I've made a couple of changes to the diary as I realized I had mixed an order of magnatude in the years as well.

    I was not sure exactly where the $420,000 came from and could not find it again, so I mentioned I could not verify that from other sources.  Do you know what group came up with the figure?

    Truth is generally the best vindication against slander - Abraham Lincoln; 1864

    by Debis Diatribes on Tue Dec 04, 2012 at 08:22:26 PM PST

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    •  No I don't but it's been floating around the site (1+ / 0-)
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      I just never took the time to try and research the methodology because I didn't believe it.

      "let's talk about that"

      by VClib on Tue Dec 04, 2012 at 10:02:19 PM PST

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      •  One hint of data came from Alan Grayson.. (0+ / 0-)

        In an interview last week (CNN?) he said that most of the 2 million employees of Walmart make about $1200 a month, gross, and that they are eligible for food stamps.

        I did a quick mental calculation and although I don't remember the details came up with the estimate that they could be using about 4% of the food stamp program. In 2011, that would be 4 percent of about 77 billion, or $280 million, assuming most employees took advantage of it. So using my previous "methodology" from above, that would work out to about 1/2 times 48 years (food stamp act started in 1964) x 280 million, or 6.7 billion total over that time.

        That's a far cry from half the Walton fortune, but it is just the one program.

        However, all this estimate rests on is conjecture, really.

        I suppose that if I looked long enough I could find a real analysis out there. I tend to avoid Walmart already as much as possible though for a variety of reasons.

        Moderation in most things.

        by billmosby on Wed Dec 05, 2012 at 07:03:25 AM PST

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      •  I remember now where the 4% came from, (1+ / 0-)
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        in 2011 about 46 million people were receiving food stamp assistant, so 2/46 = about 4 percent.

        If you assume some number of dependents per Walmart employee, that would increase the percentage.

        Too much guesswork already, though; not going to extend such even further.

        Moderation in most things.

        by billmosby on Wed Dec 05, 2012 at 07:06:15 AM PST

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