Wal-Mart's Bottomless Greed: Dodging Billions in Taxes, Scheming to Avoid Billions More

[xchrom]

http://www.alternet.org/corporate-accountability-and-workplace/wal-marts-bottomless-greed-dodging-billions-taxes-scheming



There’s another reason why Wal-Mart is one of America’s greediest corporations: it won’t pay its fair share of taxes.

Wal-Mart Stores is America’s top-earning corporation. In 2013, its revenues were $473 billion, yet it only declared $16 billion in profits. While it has been reported that Americans subsidize Wal-Mart because their low-wage employees receive an estimated $6.2 billion annually in Food Stamps, Medicare and other anti-poverty benefits, what’s not widely known is that Wal-Mart has parked $21.4 billion in untaxed profits offshore and is currently lobbying to cut U.S. corporate tax rates.

“Wal-Mart’s offshore profits have doubled in recent years at the same time that its offshore investments flattened, suggesting that the company is piling up cash overseas to avoid paying U.S. taxes on the earnings,” a new report by Americans for Tax Fairness found. “Wal-Mart is working to reduce corporate tax rates and eliminate all taxation of foreign profits.”

“You’re starting to see Wal-Mart playing games like other companies,” said Frank Clemente, Americans for Tax Fairness executive director and author of How WalMart is Dodging Billions in Taxes and Scheming to Avoid Billions More. “They’re engaging in a tax dodge.”

[Sherman A1]

1. The Wal Mart Corporation

is the epitome of "The Welfare Queen" in my opinion.

But, they get away with it and people continue to shop there. I know in some instances there are no other choices, but in far too many there are other places to shop.

[callous taoboy]

2. They screwed me out of $40 on a $50 gift card:

I am a teacher, and though I hate WM I get gift cards from students. Last year I got one for 50 bucks. Went and bought something I needed for 10 bucks on the gift card. Went back a few months later to buy motor oil and the gift card would not work. Gift card was in pristine shape. I called the 1-800 number and they said try it at a different store. I told them I live in the boonies and that I wanted a refund check sent to me. Sure they said- It'll be in the mail next week. It never came. I called them again and told them it never came. They said it was mailed, but that they'd be happy to mail me another one. IT never came as well. I called them and they said it was mailed. Rat-bastards and I will never set foot in there again. I will donate any future gift cards to the food pantry.