Journalism and Democracy

France Fines Google

Give Amazon Google 5 Years to Bust Up

Walmart Linked to Obesity

Open Markets

Stoller is a fellow at the "Open Markets Institute"

What a hoot. This guy wants anything but "open markets" which realistically ought to mean free markets.

Number of Employees

  • Google: 85,000
  • Apple: 132,000
  • Microsoft: 134,944
  • Walmart: 2.1 million, 1.4 million in the US
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These are all successful companies. They exist in the US because they could not exist anywhere else.

France and the EU would bust them up in a heartbeat. For what?

Google

Google is one amazing company. It started out as a search engine company. It now has the best self-driving auto technology in the world.

If the government busted up or severely regulated Google a decade ago as many wanted, we might not have that technology. Google pays its employees very well.

In terms of search engines, if you don't like Google, don't use it. Don't like Chrome? Don't use it.

But do not pretend there is no competition. There is much competition in the space. Google, Microsoft, Firefox all compete. Many places offer email.

If people did not like Google services, they would not use them. I used Firefox for a long time, now I mostly use Chrome. Competition is intense.

Microsoft

The EU surely would have busted up Microsoft years ago in the name of competition. No one would be better off.

There are free open-source competitors to Word and Excel.

Don't like Microsoft? Use something for free.

Amazon

Amazon employs 613,300 workers. Stoller and other moan that Amazon underpays its workers.

Excuse me for pointing out that if people don't want to work for Amazon, they can work somewhere else.

Amazon is a godsend. Tens of millions of people benefit from Amazon, literally every day!

Instead of having to drive all over the place for routine purchases, Amazon will deliver packages for free in 1-2 days with a membership. Those concerned about global warming ought to think about the gas saved with this operation.

Thanks to Fed-sponsored inflation, people need to save every penny they can.

Amazon is also into cloud technology and other things. It very much competes against Google, Microsoft and others. This competition is good, and it forces down prices across the board.

Walmart

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Walmart employs an astounding 2.1 million people, 1.4 million of them in the US.

The most common complaint against Walmart is that it does not pay its fair share of taxes. The rationale stems from the fact that many Walmart employees are also on food stamps.

What these complainers miss is that those 2.1 million workers might not have a job at all were it not for Walmart.

Look, Walmart is not Costco. If it was, it would employ about 214,000 workers instead of 2.1 million workers. Instead of complaining, everyone ought to be grateful Walmart employs 2.1 million instead of having another 2.1 million on welfare roles.

Walmart, like Amazon, is a godsend. It provides strong competition.

Everyday Low Prices

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Tens of millions of people benefit every day from low prices. If you don't like Walmart, then don't shop there!

But millions of people do like Walmart and proof enough is Walmart's 2.1 million employees.

Fair Share

These companies do not pay their "fare share" is the common complaint.

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12% got it correct. At least one person nailed it. The ideal corporate tax rate is precisely zero. On that basis, they all overpay.

Median Salaries

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Please note that Facebook, Google and Netflix pay a higher median salary than Exxon, Goldman Sachs or Verizon.

There are 85,000 Google employees making a median wage of $197,274 a year.

All of those people pay income taxes, and in addition to other high-quality benefits, Google contributes to Social Security.

So despite paying "relatively" little corporate income tax, Google contributes mightily to US tax coffers.

Biggest US Corporate Taxpayers

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The above chart is from Some Corporations Pay a Lot More Taxes Than Others.

In addition to hiring 1.4 million workers, all of who pay taxes, Walmart direct contributed $6 billion annually to the US government.

Is that over-paying or underpaying? I suggest the former.

Tax rates have dropped, but at least we can see who is paying taxes and who isn't.

Low Prices a Good Thing

Low prices are a good thing. Standards of living rise the cheaper prices get!

Complaints about low prices destroying small businesses are absurd.

Threat to Democracy

The notion that Google, Amazon, Walmart, etc constitute threats to democracy is idiotic.

These companies are products of innovation and ongoing competition. They primarily exist in the US because France, the EU bureaucracy, and socialist fools in general would destroy them everywhere else.

And the irony is these innovation killing ideas come disguised in the name of "Open Markets".

Mike "Mish" Shedlock

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