Walmart Gets $7.8 Billion 'Bill' for Its Taxpayer-Funded Breaks, Subsidies

[Judi Lynn]

Source: Common Dreams

Published on Tuesday, April 15, 2014 by Common Dreams

Walmart Gets $7.8 Billion 'Bill' for Its Taxpayer-Funded Breaks, Subsidies

New report reveals how tax system 'provides special treatment to America’s biggest corporations and richest families leaving individual taxpayers and small businesses to pick up the tab.'

- Andrea Germanos, staff writer

Walmart and the Walton family are the recipients of "special treatment" thanks to a tax system that allows them to rake in $7.8 billion a year from tax breaks and taxpayer subsidies, a new report reveals.
Armed with this news, a group of Walmart workers and taxpayers delivered a $7.8 billion tax bill — an amount that could be used to fund over 105,000 new public school teachers — to the Phoenix-area home of Walmart Chairman Rob Walton.

"Even though Walmart is making $16 billion in profits, the Waltons seem to think the American people should be providing them another $8 billion in tax breaks," Anthony Goytia, who's worked at Walmart for two years, said in a statement. "When the richest family in America isn’t paying its fair share, it’s no wonder that our children’s schools, our roads and basic public programs are getting cut left and right."

Americans for Tax Fairness (AFT), which put out the report, breaks down the $7.8 billion:

•Because Walmart pays such low wages to its employees, many of them depend on taxpayer-funded programs like food stamps to get by. That adds up to roughly $6.2 billion annually.
•Tax breaks and loopholes allow the corporation to join the ranks of other tax dodgers to the tune of $1 billion a year.
•The Waltons, who own more than 50 percent of Walmart shares, are legally able to avoid paying $607 million in federal taxes on their Walmart dividends because investment income is taxed at a lower rate than actual work income. The report adds: "Because the Waltons have investments other than Walmart, this estimate may significantly understate the savings they derive from the tax preference on investment income."


Read more: http://www.commondreams.org/headline/2014/04/15-8

[Thinkingabout]

1. The list of Takers is large. Romney talked about 47% Takers, he is also a Taker.

[Jasana]

8. Yeah, this Makers and Takers thing is bull...

because they've got it all backwards. Dear gods! Working people so poor they qualify for food stamps... then the government goes and cuts the food stamps. People like the Waltons are the true Takers in society. While I appreciate the fact that they don't seem to whine like other billionaires/millionaires, the current situation is totally untenable.

[geretogo]

2. Just more evidence we are an Oligarchy and not a Democracy . 80% of the people want a raise in

the minimum wage . It will never happen .

[SamKnause]

3. Just imagine

if we had a government that looked out for the best interest of we the people !!!!

I don't care who said it (the Supreme Court), I don't care how many times it is said (repeated by the wealthy elites), CORPORATIONS ARE NOT PEOPLE !!!!

Corporations that haul in 16 Billion in profits should not have employees on SNAP.

The tax system is the U.S. favors the wealthy.

Everything in the U.S. favors the wealthy, (money is speech).

[CrispyQ]

20. "Corporations that haul in 16 Billion in profits should not have employees on SNAP."

This should be one of the Democratic Party's rallying cries this fall.

[ErikJ]

4. More spoiled billionaire heirs like the Kochs.

Always turn out to be selfish Republicans.

[Crowman1979]

5. Basically their are no savings when you shop at Wal-Mart.

[Dustlawyer]

6. Then let's cut them off by DEMANDING Publicly Funded Elections!

Take their power away with Campaign Finance Reform! This would bring back Representative Democracy, but it would take a lot of committed, informed, brave people to stand up to the 1% and their minions!

[Stryder]

13. I'm sorry...

I couldn't hear you over all the "Real $peech."
Please feel free to repeat that a few million times.
So that, like I said, you feel free.

[Dustlawyer]

17. Welcome to DU!

[Stryder]

14. Just to be clear

The Snark was not directed at you. Your proposal is clearly the first and only way to fix everything else. But that just became damn near impossible. (Feature , not a bug.)

[blkmusclmachine]

7. Savvy!

[Blue Idaho]

9. Job Creators My Ass...

Just more spoiled fat cats using the tax code like a Cayman Islands tax dodge.

Greedy Fuckers.

[Jasana]

10. K&R nt.

[George II]

11. Here in Connecticut, Walmart actually conducts mandatory seminars for their employees....

...to learn how to apply for and take advantage of the various state-funded programs for the poor.

They KNOW they're screwing their employees and the state of Connecticut, and they train their employees so they won't bitch about being screwed.

[Brigid]

12. It's a dream, all right.

That Wal-Mart would pay up, I mean.

[creeksneakers2]

15. Suppose there was no Walmart

Would all of those people be off food stamps?

[Neoma]

18. If those small businesses didn't collapse due to Wal-mart?

Maybe.

[eShirl]

19. If there had never been a Walmart? We'll never know, will we?

But I strongly suspect the answer is yes, most of them.

[santroy79]

16. the problem is trying to explain this to people

I try explaining this point to friends complaining how people get assistance that dont need it. People just dont understand where the real problems are