While arguing for new economic policies, Democratic presidential candidate Bernie Sanders got confused about basic economic principles. On Tuesday, Sanders confused “revenue” and “profit” in a Tweet that showed his support for unionizing the video game industry.
“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.
As Lukas Mikelionis of Fox News wrote, “The democratic socialist appears to not differentiate between ‘profit’ and ‘revenue’ – the money company brings in before it deducts workers’ wages and other expenses needed to produce the product. This means that Sanders’ plea for workers to get a share of ‘that profit’ was fulfilled as he was pointing out to revenue.”
Mikelionis noted that this is not the first time Sanders has made this mistake. Earlier this month, he crashed a Walmart annual shareholders’ meeting and asserted that Walmart — the company that makes the most revenue in the U.S. but is 99th on the list in terms of profit — is one of “the largest and most profitable corporations in this country.”