Categorized | National

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.

 

Please share this with others
and follow us on Twitter and Facebook

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.

Trackbacks/Pingbacks


Leave a Reply

HumSentinel on Twitter

RSS Progressive Review

  • Pocket paradigms
    You meet alot of process people in Washington. They're like vehicles without a drive belt. They make a lot of noise; they just can't go anywhere. Getting things done is now a radical act. Then there are the virtual people. They only exist as images of themselves. Talking to one of them is like watching a bad cable show without a zapper. Some scient […]
  • Word
    It's what you learn after you know it all that counts -- Baltimore Orioles manager Earl Weaver […]
  • William Burroughs getting in the Halloween spirit
    VIA CURTIS KISE […]
  • Down East Notes
    PUBLIC INFORMATION ANNOUNCEMENT Town of Freeport, MEOn Monday evening, October 27, 2014, the Maine State Police informed Freeport’s Police and Fire Departments that Ms. Kaci Hickox would be stopping in Freeport for one night on her way to her home in Fort Kent. Ms. Hickox is a healthcare worker who recently returned to the United States after caring for Ebol […]
  • The new Middle Ages
    Some readers may recall our occasional thesis that we are living in a new Middle Ages in which the masses are up against a relatively few paranoid lords in well moated castles aka Washington and NYC. We were please to find that Monty Python was on this case some time ago.VIDEO […]
  • Mid and late career teachers are underpaid
    Center for American Progress:Mid- and late-career teacher base salaries are painfully low in many states. In Colorado, teachers with a graduate degree and 10 years of experience make less than a trucker in the state. In Oklahoma, teachers with 15 years of experience and a master’s degree make less than sheet metal workers. And teachers in Georgia with 10 yea […]
  • What's happening
    What happens when you criticize Teach for America? Over 214,000 doctors won't participate in the new plans under the Affordable Care Act analysis of a new survey by Medical Group Management Association shows. It's about a quarter of the total number of 893,851 active professional physicians reported by the Kaiser Family Foundation.The 29 states whe […]
  • FBI comes up with new assault on Constitution
    Guardian - The FBI is attempting to persuade an obscure regulatory body in Washington to change its rules of engagement in order to seize significant new powers to hack into and carry out surveillance of computers throughout the US and around the world.Civil liberties groups warn that the proposed rule change amounts to a power grab by the agency that would […]
  • How corporations staged a coup against America
    Vox - In September, a proposal to amend the US Constitution to allow tougher campaign finance and election spending restrictions went down to defeat in the Senate, on a party-line vote. Now, a new analysis by Common Cause rounded up the latest lobbying filings to find which interest groups disclosed lobbying against this amendment.There are no great surprise […]
  • US kept jailing people despite drop in crime
    OFF THE CHARTS […]
  • White House coverup of the day
    Washington Post - Bloomberg White House correspondent Margaret Talev noted how the White House stopped giving details on the fine wines served at state dinners, an opaque measure that she exposed in this story. In pursuing the piece, said Talev, she got the runaround from White House press officials, making her “so mad at them.” […]
  • Word: The space explosion could have been worse
    Karl Grossman - This event underlines again the folly of using nuclear power in space — something the United States and Russia are again actively planning. An explosion on launch is not unusual — indeed, one out of 100 rockets fail on launch. But, consider if radioactive materials were on board — as will be the situation for the proposed U.S. and Russian nuc […]
  • The real Clinton story: 1982
    Stories the media doesn't tell you about the Clintons and the state that made them  A DEA report uncovered by Ambrose Evans-Pritchard will cite an informant claiming that a key Arkansas figure and backer of Clinton "smuggles cocaine from Colombia, South America, inside race horses to Hot Springs." The London Telegraph's Ambrose Evans-Pric […]
  • Real economics: Wages
    Among all employees nationally, 56 percent are hourly workers, and 32 percent of these, or more than 21 million, earn less than $10.10 per hour, according to University of Virginia researchers in the Weldon Cooper Center for Public Service’s Demographics Research Group. The Labor Department reports that the 13 states that raised their minimum wage in 2014 ha […]
  • Pocket paradigms
    A real simple rule on privatization: Ask the following question: Is this something about which citizens should have a say? If the answer is yes, don't privatize. - Sam Smith […]