some people of wal-mart...
"always low prices. ALWAYS."
"always low prices. ALWAYS." "save money, live better"
cheap at walmart...
wal-mart back to school sale...
"always low prices. ALWAYS." "save money, live better"
vortexanomaly reblogged
No Shame In His Game
support those who treat their workers well...
apple store is the new walmart...
cheap at walmart...
Wal-Mart Is Hiding $76 Billion in Overseas Tax Havens
It turns out that Wal-Mart's slogan "Save money. Live better" might have a hidden meaning.
A report commissioned by progressive group Americans for Tax Fairness and researched by the United Food and Commercial Workers International Union claims that Wal-Mart Stores Inc. has hidden about $76 billion worth of assets in overseas tax havens.
Wait, $76 billion? According to the report, "at least 25 out of 27 (and perhaps all) of Wal-Mart's foreign operating companies" are held by shell companies or subsidiaries in tax havens. Wal-Mart's Luxembourg divisions own $64.2 billion in assets, while its companies in the Netherlands hold another $12.4 billion. Altogether, Americans for Tax Fairness claim 90% of Wal-Mart's international assets, or 37% of its total assets, are held in those two nations alone.
Source: Americans for Tax Fairness
The sparse offices in those tax havens manage approximately 3,500 overseas stores. The report alleges that this technique earned Wal-Mart Stores Inc. an effective tax rate of less than 1% on $1.3 billion in profits from 2010 to 2013 in Luxembourg.
All told, the group claims these tax avoidance strategies have saved the company $3.5 billion in taxes. It also says in 2014, "Wal-Mart's tax-haven subsidiaries provided U.S. affiliates access to $2.4 billion in foreign earnings — in the form of low-interest, short-term loans — which may transgress U.S. law."
**Wal-Mart denies any wrongdoing: **Wal-Mart spokesman Randy Hargrove told Mic via phone the $76 billion total is "an incorrect, inflated figure," but refused to elaborate on the allegations. When asked about their Luxembourg subsidiary, Hargrove confirmed Wal-Mart operated an office with staff there to "help facilitate our business operations in our international countries," but refused to provide any specific information about how many staff worked there.
"We disclosed these significant subsidiaries of the company in our 10k, and that complies by [U.S. Securities and Exchange Commussion] regulations," Hargrove said. "This is the same union-supported group that regularly issued flawed reports on Wal-Mart to promote their agenda rather than the facts."
Source: Joe Raedle/Getty Images
Why you should care: Wal-Mart's tax-avoidance strategy may well turn out to be technically legal, but it shouldn't be. _Bloomberg _reports many of the tactics Wal-Mart uses to shield profits from taxation have drawn the ire of regulators and Organisation for Economic Co?operation and Development representatives who believe the international community should do more to challenge tax havens.
Ultimately, a recent International Monetary Fund report concluded these kind of corporate tactics will cost nations around the world close to a trillion dollars in long-run tax revenue:
More specifically, previous Americans for Tax Fairness reports have alleged that Wal-Mart compensates its employees so poorly that the government doles out billions in health care, nutrition assistance and other payments to support them. Other research has confirmed Wal-Mart workers disproportionately rely on government benefits to make ends meet.
So if the facts in this new report are true, Wal-Mart is essentially bilking the U.S. government from both ends. Average taxpayers wouldn't get away with this, so why should Wal-Mart?
vortexanomaly reblogged
no-corners-deactivated20160918
Anonymous asked:
If someone can't live off working 40 hours/week at the minimum wage, then they should take a higher paying job. There are plenty out there. Even Wal-Mart and McDonalds pay more than the minimum wage.
“why dont they just get a higher job” has become the modern version of “why dont they eat cake?” clearly if the workers had the oppurtunity to just improve their life they would. Nobody choose voluntarily to get a lower wage.
The average pay for Wal-Mart and McDonald’s is so low that both companies figure on their employees getting food stamps and state aid.
In October, two studies released to coincide showed that American fast food industry outsourced a combined $7 billion in annual labor costs to taxpayers. McDonald’s alone accounted for $1.2 billion of that outlay.
Yum Brands came in at a distant number two, with its Pizza Hut, Taco Bell and KFC subsidiaries costing $648 million in benefits programs for workers each year.
FYI…I’ve been on food stamps—or rather the Supplemental Nutrition Assistance Program. It’s not easy to get on it. Long, long forms. Interviews. Unless you’re elderly or disabled, you have to prove on a monthly basis that you’re looking for a job. And there’s the small matter of having to live at or below the poverty line.
Oh, and the SNAP card doesn’t pay for all groceries. If you need toilet paper, hand soap, sanitary napkins or tampons, laundry detergent, aluminum foil, etc….you’re out of luck. SNAP only pays for food. By the way, alcoholic beverages don’t count as food for SNAP purpose, so if you’ve heard any politicians bitching about people buying beer with food stamps, they’re lying through their capped teeth.
Wal-Mart employees mostly rely on employee discounts when they buy groceries. This means that both their employees’ wages (in the form of outlay for non-food items) and their employees’ SNAP benefits end up in Wal-Mart’s hands. Twice the income for Wal-Mart…and the corporation only pays for half of it. It’s pure profit, as long as you can forget that employees are human beings who are living at or below the poverty line. The Walton family seems to have no problem with this.
More SNAP dollars are spent in Wal-Mart than anywhere else. It’s also the company with the most employees on food stamps. Coincidence? I think not.
You’re assuming some things, OP, and they just aren’t true:
* that it’s easy to get a full-time job in America. It isn’t, because full-time jobs come with perks and most companies would rather hire part-timers or contractors rather than hire a worker who is entitled to health insurance, vacation days and so on. There’s a reason that most employed people in America are working two or three jobs…because they need the money to pay the damned bills.
* that the minimum wage is enough to live on. It’s often not, and not every state pays the national minimum wage. For example, in Oklahoma, only companies that a) have ten or more full-time employees at one location or that b) have annual gross sales over $100,000 are obliged to pay the federal minimum wage. Everyone else gets the state minimum wage…two bucks.(OK ST T. 40 § 197.5). In Montana, any business with gross annual sales of $110,000 or less is only required to pay its workers $4.00 per hour. Wyoming and Georgia aren’t doing much better; the state minimum wage there is $5.15. Louisana, Mississippi, South Carolina and Tennessee have no mandated state minimum wage at all.
* that all it takes to get ahead in America is hard work and perseverance. I can’t blame you for that one, because that’s our national myth. We love believing that. But it’s not true. We have people killing themselves with the sheer effort of making ends meet, and the ends are staying as far apart as ever.
post-teenager
Reblogging for extra information.
how walmart charges their customers...
vortexanomaly reblogged
Who is the real welfare queen? #shame #welfaremart
walmart=economic terrorists