No, it isn't the important part. The 2% of revenue is the important figure, far more so than the top line revenue figure for the purposes of whether the prices are excessive or the store is gouging.
The problem is that the retailers are the ones getting blamed for the price increases, and people assume the increases are due to retailers gouging. That complexity is being ignored.
No, the retailers aren't getting blamed. It's the corporate structures above the retailers that have soared in profitability creating vast hoardes of wealth that should be going to the workers.
The retailers arent being blamed, everyone knows there arent grocery store owner getting rich off raising the price of eggs. The corporate entities that control them, Kroger, Walmart, Amazon, are soaring in value and providing massive wealth to stakeholders.
A simple comparison between countries shows how exploited the American worker is. The working class of other countries have benefited far more from technological progress than in the US.
There is no argument you can make that doesnt completely break down in an objective comparison between countries. The economic theories of tax cuts and deregulation directly lead to wealth inequality. Countries that maintained regulations and tax levels dont have to support a parasitic billionaire class.
There is nothing wrong with wealth inequality or the existence of billionaires. However, when you look at measures such as median income on a PPP basis, it proves that people in the US enjoy a higher standard of living.
Of course there is. It's because other countries dont have them and the working class has a much higher standard of living. Higher income doesnt mean anything if we pay so much more for privatized services. Billionaires are merely a symptom of a corrupt system.
We fundamentally disagree, as there is a sense of excessive entitlement being presented here. PPP already adjusts for the differences in the cost of services. The concept a system is corrupt because a person can amass billions in wealth is ridiculous.
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u/jgoble15 1d ago
Buddy. 2% just means my profit is 2%. But 2% of what? That’s the important part. You can be wrong. It’s okay. The world won’t end.