Fact Check: Health Insurer's profits not so fat

[jamesrwright3]

There has been an effort in food reform. Much of it is educational, but school lunches have also become healthier. Fewer schools give contracts to candy & soda merchants to supply vending machine snacks.

I don't want talk. I want action. I want more Obama dollars so people can buy more food.

 

[nvxplorer]

There is a difference between earnings and profit.

Corporate earnings and profit are the exact same thing.

 

[nvxplorer]

I know, but Obama needs to do something about those evil food companies. I could use more food, but can't afford it since all of those food companies want to do is make more profit. Obama needs to get food reform passed to give more of the people's money back to them and out of the hands of those food profiteeers.

Go Bears! Boo Steelers.

 

[jamesrwright3]

Go Bears! Boo Steelers.

How many Lombardi trophies do the Bears have?

 

[nvxplorer]

How many Lombardi trophies do the Bears have?

How many NFL championships do the Steelers have?

 

[jamesrwright3]

How many NFL championships do the Steelers have?

6, the most of any team.

 

[nvxplorer]

6, the most of any team.

Incorrect. The Bears have nine, and the most would be Green Bay with twelve.

 

[Chajara]

That's because we have the food bank and food stamps. And by the looks of it, most poor are the most obese. I don't think they're starving either. However, they do represent the highest cost for health dollars. While we're discussing national healthcare, why not put further restrictions on how food stamps (or more accurately food credit cards) can be spent. Losing weight could improve their health and reduce their cost to any healthcare system.

Then maybe you should tell the government to stop subsidizing cheap corn, soy, and canola and put more effort into getting poor people (actually, everyone) to buy fresh fruits and veggies and cooking more. But that would involve getting Congress to stop taking money from industry lobbyists on top of finding ways to get grocery stores into poor neighborhoods instead of liquor and corner stores, and in addition to that we'd need to start teaching actual life skills like cooking in schools. And that would be haaaaaaaaard.

You can only put so many restrictions on food stamp cards before they become basically useless due to lack of grocery stores and lack of time or skills to cook. When the nearest grocery store is over an hour away by bus and you can only buy what you can carry and the Dollar Store or corner store only has Hamburger Helper and pre-packaged processed junk food and you don't know how to cook anything besides that anyway it's sort of hard to not get fat due to eating junk. The government does, at least, provide vouchers to get fresh fruits and vegetables at local farmer's markets and it's a great thing for those who have access to them. They were used often when I worked for a local farmer and helped him set up and sell at his market.

 

[jayem]

And people can get health care-it's called Medicaid. Why do we need a government plan?

FYI:

Not everyone can get Medicaid. In addition to income below a certain threshold, eligibility is limited to pregnant women, children and adolescents, caretakers of children under 18, people with disabilities, and people receiving SSI. (And you must be a citizen or legal immigrant.)There may be other requirements based on the state. Something like 60% of all low income persons do not qualify for Medicaid--and many of these same people don't have jobs providing health benefits. So do you want to expand Medicaid to everyone?

 

[Vylo]

wait, was there an actually argument that insurers were making too much money?

I thought the problem was there was no money because so few healthy people are paying in, that it was increasing the burden on those who are paying in.

Also overutilization and expensive technology.

 

[Vylo]

Corporate earnings and profit are the exact same thing.

I think they meant revenue and profit maybe.

 

[Veritas]

Corporate earnings and profit are the exact same thing.

You've got to be kidding! Who taught you this?

Knowing the Difference Between Earnings and Profit | Company Activities & Management > Financial Performance & Reports from D&B Small Business Portal

What a business brings in is NOT the same thing as profits, dude. It is out of earnings or revenue that a company must pay its expenses including compensation and benefits for employees, overhead, cost of goods and services, etc. After all that is paid for, what is left if anything is called a profit. Some businesses make little profit and many especially today are losing money....basically living off credit to survive.

What's really troubling to me is that there so many people like you that are either ignorant or ill-informed about basic financial concepts and how business works. I'm guessing this is in part why Obama looks so appealing to them. They don't really know any better. What you've proven to me is the absolute necessity of getting good basic econ. classes in middle and high schools to teach these concepts.

 

[SOAD]

You've got to be kidding! Who taught you this?

Knowing the Difference Between Earnings and Profit | Company Activities & Management > Financial Performance & Reports from D&B Small Business Portal

What a business brings in is NOT the same thing as profits, dude. It is out of earnings or revenue that a company must pay its expenses including compensation and benefits for employees, overhead, cost of goods and services, etc. After all that is paid for, what is left if anything is called a profit. Some businesses make little profit and many especially today are losing money....basically living off credit to survive.

What's really troubling to me is that there so many people like you that are either ignorant or ill-informed about basic financial concepts and how business works. I'm guessing this is in part why Obama looks so appealing to them. They don't really know any better. What you've proven to me is the absolute necessity of getting good basic econ. classes in middle and high schools to teach these concepts.

Corporate Earnings are revenues minus COS, operating expenses and taxes. You seem to be describing gross sales (bolded part).

Why do you have to be so rude?

 

[IzzyPop]

You've got to be kidding! Who taught you this?

Knowing the Difference Between Earnings and Profit | Company Activities & Management > Financial Performance & Reports from D&B Small Business Portal

What a business brings in is NOT the same thing as profits, dude. It is out of earnings or revenue that a company must pay its expenses including compensation and benefits for employees, overhead, cost of goods and services, etc. After all that is paid for, what is left if anything is called a profit. Some businesses make little profit and many especially today are losing money....basically living off credit to survive.

What's really troubling to me is that there so many people like you that are either ignorant or ill-informed about basic financial concepts and how business works. I'm guessing this is in part why Obama looks so appealing to them. They don't really know any better. What you've proven to me is the absolute necessity of getting good basic econ. classes in middle and high schools to teach these concepts.

I think the article you have linked to is confusing earnings and revenue. Most of the time earnings and profit are synonymous. I have seen earnings referenced in some areas as the EBITDA line (Earnings Before Interest, Taxation, Depreciation, and Amortization) and profit is after that, but you have to get pretty heavy into a P&L before you start making that distiction.

 

[Veritas]

Corporate Earnings are revenues minus COS, operating expenses and taxes. You seem to be describing gross sales (bolded part).

Why do you have to be so rude?

I thought imitation was the sincerest form of flattery.

 

[nvxplorer]

You've got to be kidding! Who taught you this?

earnings Definition

earnings

Revenues minus cost of sales, operating expenses, and taxes, over a given period of time.

 

[nvxplorer]

I thought imitation was the sincerest form of flattery.

Who are you imitating?

 

[nvxplorer]

I think the article you have linked to is confusing earnings and revenue. Most of the time earnings and profit are synonymous. I have seen earnings referenced in some areas as the EBITDA line (Earnings Before Interest, Taxation, Depreciation, and Amortization) and profit is after that, but you have to get pretty heavy into a P&L before you start making that distiction.

Yes, EBITDA is used as an indication of plant performance, as it ignores the financial factors that are unrelated to the day-to-day operation of a plant.