Apr 15,2014 - Walmart and the Walton family certainly have reason to be having a happy tax day. Americans for Tax Fairness rounds up the tax avoidance strategies Walmart and the Walton family use to keep taxpayers subsidizing their big profits and enormous wealth:
Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, health care and other taxpayer-funded programs.
Walmart avoids an estimated $1 billion in federal taxes each year. The reason:
Walmart uses tax breaks and loopholes, including a strategy known as accelerated
depreciation that allows it to write off capital investments considerably faster than
the assets actually wear out.
The Waltons avoid an estimated $607 million in federal taxes on their Walmart
dividends. The reason: income from investments is taxed at a much lower tax rate
than income from salaries and wages.
It's all perfectly legal, strategies used by many if not most huge corporations and 0...