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. ["Shopping For Subsidies: How Wal-Mart Uses Taxpayer Money to Finance Its Never-Ending Growth," Good Job First, May 2004]
Please watch the following clips.
I don't think I'll be buying indoor lighting from Wal-Mart.