While many of Walmart's (WMT) workers rely on food stamps and other government aid to make ends meet, its top eight executives are living better, thanks in part to $298 million in tax-deductible "performance pay" during the past six years.
That's according to a new report from the left-leaning Institute for Policy Studies (IPS), which found that Walmart lowered its federal tax bills by $104 millionbecause of the "performance pay" loophole. Of course, Walmart isn't alone in benefiting from that loophole, which was created in 1993 as a way to allow corporations to take tax deductions for "performance-based pay."
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1 comment:
More brainless nonsense!
So a provision signed by Bill Clinton and not repealed in the interim is somehow taking pay from current workers?
Just think, If the tooth-fairy had to leave $1 M for each tooth under the pillow, we'd all be rich and all our problems would never have happened.
Alternatively, CBS, the peddler of this particular nugget of nonsense, could hack its execs' bonuses and pay less for sports broadcasting rights. With the combined savings all cable TV viewers would realize enormous added post-tax income. Their spending of this 'found money' would lift the economy.
Last I checked WalMart relies upon enlistments and not the draft to fill its openings. The numbskulls 'striking' are creating jobs for other, hopefully more thankful, candidates.
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