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.
at 4/05/2014 11:00:00 PM