Quantcast
Connect with us

Cutting health benefits of 1,900 Whole Food workers saved world’s richest man Jeff Bezos what he makes in less than six hours

Published

on

When billionaire Jeff Bezos cut health benefits on September 13 for part-time workers at his grocery store Whole Foods the richest man in the world saved the equivalent of what he makes from his vast fortune in just a few hours.

That’s according to an analysis from Decision Data’s “Data in the News” series, which found that Bezos could cover the entirety of annual benefits for part-time employees who work less than 30 hours a week with what he makes from stocks and investments in just a fraction of a day.

ADVERTISEMENT

“Doing a quick calculation with existing publicly available numbers shows that Bezos makes more money than the cost of an entire year of benefits for these 1,900 employees in somewhere between 2-6 hours,” the study says.

The analysis used an estimate that Whole Foods would contribute between $5,000 and $15,000 annually per employee for benefits. At the middle of that range, $10,000, that comes to $19 million a year.

Bezos makes just under $9 million an hour, according to a 2019 Business Insider analysis, which would mean he makes enough money in a little over two hours to cover the benefits he cut. Decision Data used an earlier study which found Bezos makes $4.5 million an hour to conclude he would need approximately four and a half hours to cover the cost.

“CEO worth more than $110 billion cuts health care for 2,000 workers after raking in $9 million an hour,” tweeted economist Robert Reich, citing the 2019 Business Insider figure.

The disconnect between Bezos’ wealth and the cost of the benefits was remarked on by a number of observers.

ADVERTISEMENT

“Jeff Bezos makes $3,182 a second,” said Jacobin writer Luke Savage.

Presidential candidate and former Secretary of Housing and Urban Development Julián Castro called the move “shameful” and noted that Bezos’ crown jewel, online retailer Amazon, pays nothing in taxes.

“Amazon pays zero dollars in federal income taxes,” Castro tweeted. “Jeff Bezos is the richest man in modern history, and yet they continue to degrade the rights of their workers.”

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Facebook

Watch Devin Nunes freak out and eject reporters when asked about phone calls with Lev Parnas

Published

on

Rep. Devin Nunes (R-CA) lost it over the weekend when he was asked about his phone calls with Rudy Giuliani's associate Lev Parnas, who was recently indicted.

Nunes was at a Republican Party fundraiser in New York City when two Intercept reporters asked about the impeachment probe. Recent phone records subpoenaed by the House Intelligence Committee revealed that Nunes had multiple conversations with Giuliani and with Parnas.

Continue Reading

Breaking Banner

Trump supporters lose their minds when church shows Nativity scene in immigrant cages

Published

on

MAGA supporters are losing their minds after a photo of the Nativity scene at Claremont United Methodist Church was posted to Facebook.

The scene depicts Mary, Joseph, and the baby Jesus separated and put in their own cages, a reference to the families separated at the U.S.-Mexico border. Inside the church, the family is shown as reunited.

Senior minister Karen Clark Ristine shared the image on Facebook with the message hoping that everyone in the United States could see the photo and read the story for Christmas.

"The theological statement posted with the nativity: In a time in our country when refugee families seek asylum at our borders and are unwillingly separated from one another, we consider the most well-known refugee family in the world," she wrote. "Jesus, Mary, and Joseph, the Holy Family. Shortly after the birth of Jesus, Joseph and Mary were forced to flee with their young son from Nazareth to Egypt to escape King Herod, a tyrant. They feared persecution and death."

Continue Reading
 

Breaking Banner

Columnist nails Republicans for only caring about Hunter Biden now that his father is running for president

Published

on

One of the critical questions that must be answered by Republicans, according to one Washington Post columnist, is why they didn't care about Hunter Biden's position at Burisma for so many years.

In a Sunday piece, James Downie asked why Republicans didn't do anything about Hunter Biden five years ago when it was first revealed that vice president's son was on the board of a Ukraine energy company. The House and the Senate were being run by Republicans until this year. They haven't had problems with other partisan investigations against high-profile leaders. There were ten investigations into the Benghazi attacks, three hearings, 29 witnesses, and former Secretary of State Hillary Clinton testified for 11 hours. Yet, it was only after Joe Biden announced he was running against President Donald Trump that Republicans discovered an issue.

Continue Reading