AFL- CIO - A new report from Americans for Tax Fairness shows that taxpayers in the United States subsidize Walmart and the Walton family, who owns the majority of Walmart stock and is the richest family in the country, by at least $7.8 billion annually. At the same time, the report shows, taxpayers help pad Walmart and the Walton family's profits.
The report makes it very clear that not only do Walmart and the Waltons not need these subsidies, but that the company could more than afford to raise salaries and improve benefits for their workers, more than half of whom made less than $25,000 last year:
Walmart is the largest private employer in the United States, with 1.4 million employees. The company, which is number one on the Fortune 500 in 2013 and number two on the Global 500, had $16 billion in profits last year on revenues of $473 billion. The Walton family, who owns more than 50 percent of Walmart shares, reaps billions in annual dividends from the company. The six Walton heirs are the wealthiest family in America, with a net worth of $148.8 billion. Collectively, these six Waltons have more wealth than 49 million American families combined.