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Walmart Destroys America

Your tax dollars pay for Wal-Mart's greed

The estimated total amount of federal assistance for which Wal-Mart employees were eligible in 2004 was $2.5 billion. [The Hidden Price We All Pay For Wal-Mart, A Report By The Democratic Staff Of The Committee On Education And The Workforce, 2/16/04]
One 200-employee Wal-Mart store may cost federal taxpayers $420,750 per year. This cost comes from the following, on average:
$36,000 a year for free and reduced lunches for just 50 qualifying Wal-Mart families.
$42,000 a year for low-income housing assistance.
$125,000 a year for federal tax credits and deductions for low-income families.
$100,000 a year for the additional expenses for programs for students.
$108,000 a year for the additional federal health care costs of moving into state children's health insurance programs (S-CHIP)
$9,750 a year for the additional costs for low income energy assistance.

Health care subsidies compared to executive compensation

Excluding his salary of $1.2 million, in 2004 Wal-Mart CEO Lee Scott made around $22 million in bonuses, stock awards, and stock options in 2004.
This $22 million could reimburse taxpayers in 3 states where Wal-Mart topped the list of users of state-sponsored health care programs, covering more than 15,000 Wal-Mart employees and dependents. [Wal-Mart Proxy Statement and News Articles GA, CT, AL].
Your tax dollars subsidize Wal-Mart's growth

The first ever national report on Wal-Mart subsidies documented at least $1 billion in subsidies from state and local governments.
A Wal-Mart official stated that ?it is common? for the company to request subsidies ?in about one-third of all [retail] projects.? This would suggest that over a thousand Wal-Mart stores have been subsidized.

If this continues, the $10 jacket you purchased may be the only one you can afford.

(http://www.wakeupwalmart.com/facts/)

Posted by: Protector   Posted on: 01/04/07 You are currently: a Guest | Members login | Terms of Use

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