Every year taxpayers subsidize Walmart – the world’s wealthiest corporation 1 – to the tune of $7.8 BILLION!
Walmart, America’s largest private employer, raked in $17 billion in profit last year 2; its owners, the Walton family, have more wealth than the bottom 42% of Americans combined 3. But every year, Walmart’s poverty wages and extensive tax dodging cost taxpayers $7.8 BILLION in subsidies.
Despite being one of the most profitable corporations in the world, Walmart regularly takes advantage of $1.4 billion worth of tax breaks, free land, infrastructure assistance, and even outright grants from state and local governments – all in a Herculean effort to avoid paying their fair share of taxes 4. Even worse? Walmart’s wages are so low that their employees – even those working full time – don’t make enough to pay rent or feed their families, forcing them to rely on $6.2 billion in public assistance programs 5. You read that right – a full time job at Walmart is a road to poverty, not out of it.
It doesn’t have to be this way. Walmart has more than enough money to pay its fair share of taxes and pay its workers a living wage. Last year, Walmart CEO Doug McMillon “earned” a $26.5 million pay package; that means he makes more money in one day than an average Walmart employee makes in an entire year 6. There is only one reason for Walmart to continue dodging taxes and cheating workers out of a fair check: pure, out-of-control greed.
We say that enough is enough. Walmart’s billions of dollars in profit have literally been snatched from taxpayers’ wallets. It’s time for us to get reimbursed.
- Fortune, “Wal-Mart Stores”
- MarketWatch Financials, “MarketWatch Financials”
- Mother Jones, “Chart: 6 Walmart Heirs Hold More Wealth Than 42% of Americans Combined”
- Americans for Tax Fairness, “Walmart on Tax Day”
- Forbes, “Report: Walmart Workers Cost Taxpayers $6.2 Billion In Public Assistance”
- Arkansas Business, “Wal-Mart CEO Doug McMillon Gets $25.6M Pay Package”