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Saturday, April 05, 2014
Walmart has admitted that they depend on corporate welfare to keep making a profit
In their annual filing with the Securities and Exchange Commission, the low-wage retailer provided a list of factors that pose threat to future profits. Among those risks, Walmart listed "changes in the amounts of payments made under the Supplemental Nutrition Assistance Plan and other public assistance plans, [and] changes in the eligibility requirements of public assistance plans..." This admission proves that the retail giant relies on the government – and the taxpayers – to subsidize their poverty wages. On top of that benefit, Walmart gets additional handouts when taxpayers pick up the tab for employee healthcare, housing assistance, and various other programs. All the while, Walmart rakes in billions in profits that could easily cover the cost of providing employees with benefits and higher pay. Our hard-earned tax dollars should be going to invest in our nation, not to helping multinational corporations make a profit while abusing workers both here and abroad.
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5 comments:
No, it is not an admission that the government subsidizes their "poverty wages". It says that their bottom lime is/can be/will be affected by changes in the SNAP, WIC, etc. eligibility requirements and amount of payments.
Wages are dependent on supply and demand. Retail sales have never been high paying jobs nor have store stocking personnel.
That disclaimer on their shareholders report is complying with the law - government changes WILL affect their bottom line.
I think what WalMart is saying is that a reduction in the SNAP program would reduce the amount of money spent by lower income customers who is their target audience. The authors opinion only makes sense if everyone of these customers actually works at WalMart.
So there it is, Walmart's business model. They also were one of the biggest lobby when it came to the food entitlement program expansion. They count on people thinking they are getting a low price on products, but the reality is consumers are paying in other ways.
Obama hands out your money because it's yours , not his.
I wonder if you can get free birth control , unlike Hobby Lobby.
A circle is the most natural and efficient shape in the universe according to Native Americans.Toss a pebble into water and see what shape the ripples immediately take.Entitlements also conform to a circle because both ends meet,advantage recipient.
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