The Walton’s 4759 stores earn a revenue of $469 billion, which is more money than that of nearly 50% of all Americans combined. As America’s richest family, they exploit a variety of legal loopholes in order to make certain they perpetuate the dynasty’s wealth rather than contribute their government share, according public-records requests for court documents and the Internal Revenue Service filings. Yet the company still feels the need to pocket even the loose change on their store floors. In case you needed a reminder - Walmart harms workers - and the community: Walmart doesn’t bring new jobs with it, either, not even crappy Walmart jobs. Instead, it brings unemployment and poverty: A study published in 2008 in the Journal of Urban Economics examined about 3,000 Walmart store openings nationally and found that each store caused a net decline of about 150 jobs (as competing retailers downsized and closed) and lowered total wages paid to retail workers. In a study conducted by Christopher Fowler, Puget Sound Sage, research estimates one new Walmart store decreases the community’s economic output approximately $13 million over a 20-year period. The same store also costs another $14 million in lost wages during that timeframe. Fowler says this about the reason, The research shows that the negative impact is due to the use of the Walmart business model. A new ‘generic’ grocery store does not equal economic harm, but a new Walmart does. In other words, Walmart is a cancer on the nation. We will know this country is back on track when Walmart workforce is unionized, and their workers are no longer on public assistance - or it shutters for good.
Posted on: Mon, 02 Jun 2014 14:00:00 +0000