Democratic socialist, Bernie Sanders, wants to impose a radical economic system onto the United States. He also encourages more industries to unionize, making it harder for businesses to succeed. While urging game developers to form a union, he revealed he doesn’t know a basic fact about the economy. Um, why is he telling what to do at all?
Bernie Sanders is one of several 2020 candidates who calls himself a “democratic socialist.” It’s a pretty bizarre term, considering most socialist countries end up that way, not by democracy, but by bloody coups.
Sanders claims our nation has been corrupted by capitalism. He accuses President Trump of only supporting big corporations. “Uncle Bernie” is trying to buy votes with the promise of free college tuition and “Medicare for All.” If he was president—and his policies enacted—it would mean a radical change to our way of life and economy.
I guess he really knows what he’s talking about, right? I mean, if he wants to transform America into a socialist nation, he must understand how our economy works and wants to make it better. That’s what any person would assume.
Yet, Sanders has a disturbing history of getting basic facts about our economy wrong. In speeches or statements, he proves he doesn’t know how a company works. Even as he demands massive changes to how companies operate.
Just take his recent tweet about game developers unionizing. He demanded that the video game industry share the massive revenue they earned with their workers. But… there’s just one problem.
Democratic presidential candidate Bernie Sanders confused “revenue” and “profit” in supporting the efforts to unionize the video game industry.
The U.S. senator from Vermont, who’s constantly trailing Vice President Joe Biden in the polls, made the embarrassing basic economics mistake on social media Tuesday.
“The video game industry made $43 billion in revenue last year. The workers responsible for that profit deserve to collectively bargain as part of a union. I’m glad to see unions like @IATSE and the broader @GameWorkers movement organizing such workers,” Sanders tweeted. [Source: Fox News]
Yeah, so? What’s the problem? Well, there’s a big difference between profit and revenue. Revenue is what a company brings in, before it deducts expenses like workers’ wages and everything else. Revenue is often much, much higher than a company’s final profit. Sanders is demanding game companies share their profits with workers, but quotes their revenue.
It’s a sneaky slight-of-hand to make it seem like game companies are earning billions each year—but cheating their workers.
The fact is, all companies—even game companies—share their revenue with their employees. That’s where their salaries come from. Profit is a much smaller number. It doesn’t look that dramatic in a tweet.
So, did Sanders not understand this basic fact about business? Or was he being deliberately dishonest, thinking his followers were just too stupid to know the difference?
I mean, he’s been at this political game for over forty years. Shouldn’t he know by now that profit and revenue are different? Remember, this is a man who wants to radically change our economic system and he apparently doesn’t know the difference between these two significant terms.
This isn’t even the first time he’s made this “mistake.” Sanders recently bashed Walmart, demanding they pay their employees more. Yet again he referred to their revenue not their profit.
Earlier this month, Sanders crashed Walmart’s annual shareholders’ meeting, where he urged the shareholders to ensure living wages for the workers as “the American people are sick and tired of subsidizing the greed of some of the largest and most profitable corporations in this country.”
While Walmart is indeed the company that brings the most revenue in the U.S., its profit put the company only as the 40th on the Fortune 500 list and is just 99th when ranked profit per employee thanks to its 2.3 million workforce. [Source: Fox News]
Is Sanders lying or just completely ignorant of economic figures? I can’t say for sure. But I can say a man like that should not be allowed to make decisions effecting our economy. Neither as a senator nor Commander in Chief.