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Subsidizing Walmart on the Taxpayer’s Dime

 

Taxpayers Support Walmart & Family to the Tune of $7.8 Billion a Year

GOOD HUMOR VIDEO

 

Skippy Massey
Humboldt Sentinel

 

AFL-CIO Everyone needs a place to shop. 
But not everyone need pay their fair share of taxes like you.

A new report from Americans for Tax Fairness shows that taxpayers in the United States subsidize Walmart and the Walton family, who owns the majority of Walmart stock and is the richest family in the country, by at least $7.8 billion annually.

The report, Walmart on Tax Day: How Taxpayers Subsidize America’s Biggest Employer and Richest Family, was released in conjunction with tax day, when millions of Americans and small businesses do their civic duty and pay their fair share to support the economy and services critical to many Americans.  At the same time, the report shows, taxpayers help pad Walmart and the Walton family’s profits.

The report makes it very clear that not only do Walmart and the Waltons not need these subsidies, but that the company could more than afford to raise salaries and improve benefits for their workers, more than half of whom made less than $25,000 last year:

Walmart is the largest private employer in the United States, with 1.4 million employees.

The company, which is number one on the Fortune 500 in 2013 and number two on the Global 500, had $16 billion in profits last year on revenues of $473 billion.

The tax breaks and taxpayer subsidies that Walmart gets, more than $7.8 billion every year, are enough to hire 105,000 new public school teachers, notes Americans for Tax Fairness.  An estimated $6.2 billion of that money comes from food stamps, health care and other taxpayer-funded programs that Walmart employees are eligible for because their salaries are so low. 

Another $1 billion is derived from tax breaks and loopholes Walmart uses to avoid paying its full tax burden. 

The Walton family avoided paying an estimated $607 million in taxes because much of their compensation is derived from dividends, which are taxed at a lower rate than salaries.

Other tax avoidance methods Walmart engages in comes from economic development subsidies from state and local governments.

Furthermore, the report estimates that the Walton family avoids paying another $3 billion in taxes by dodging estate taxes. Taxpayer funds further benefit the company from customers who don’t work for the corporation but spend food stamp money there, with an estimate of $13.5 billion in sales last year.

The Walton family, who owns more than 50 percent of Walmart shares, reaps billions in annual dividends from the company.  The six Walton heirs are the wealthiest family in America, with a net worth of $148.8 billion.  Collectively, these six Waltons have more wealth than 49 million American families combined.

Read the full report.

 

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One Response to “Subsidizing Walmart on the Taxpayer’s Dime”

  1. OUTRAGED says:

    The real original Tea Party fought, sacrificed life and limb, so that we have the right to pay taxes to ourselves through government.

    How do we pay respect to that first original Tea Party’s heroics? We crate a new royalty called Corporations and other uber rich and we pay for their infrastructure, subsidize their servant class so they can have numerous homes, travel the world, spoil their children and their dogs and play and indulge. We underfund OUR government then complain IT doesn’t work…It can’t work if we don’t WORK IT as our fore fathers fought gallantly to enable us to do. We pay the rich and rob the government…like Robbin Hood in reverse.

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