It's all perfectly legal, strategies used by many if not most huge corporations and 0.1 percent families. But that's the point. The system is rigged in favor of those who can hire lobbyists and give max-out campaign contributions.
- 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.
This is only a Preview!
You must Publish this diary to make this visible to the public,
or click 'Edit Diary' to make further changes first.
Posting a Diary Entry
Daily Kos welcomes blog articles from readers, known as diaries. The Intro section to a diary should be about three paragraphs long, and is required. The body section is optional, as is the poll, which can have 1 to 15 choices. Descriptive tags are also required to help others find your diary by subject; please don't use "cute" tags.
When you're ready, scroll down below the tags and click Save & Preview. You can edit your diary after it's published by clicking Edit Diary. Polls cannot be edited once they are published.
If this is your first time creating a Diary since the Ajax upgrade, before you enter any text below, please press Ctrl-F5 and then hold down the Shift Key and press your browser's Reload button to refresh its cache with the new script files.
ATTENTION: READ THE RULES.
- One diary daily maximum.
- Substantive diaries only. If you don't have at least three solid, original paragraphs, you should probably post a comment in an Open Thread.
- No repetitive diaries. Take a moment to ensure your topic hasn't been blogged (you can search for Stories and Diaries that already cover this topic), though fresh original analysis is always welcome.
- Use the "Body" textbox if your diary entry is longer than three paragraphs.
- Any images in your posts must be hosted by an approved image hosting service (one of: imageshack.us, photobucket.com, flickr.com, smugmug.com, allyoucanupload.com, picturetrail.com, mac.com, webshots.com, editgrid.com).
- Copying and pasting entire copyrighted works is prohibited. If you do quote something, keep it brief, always provide a link to the original source, and use the <blockquote> tags to clearly identify the quoted material. Violating this rule is grounds for immediate banning.
- Be civil. Do not "call out" other users by name in diary titles. Do not use profanity in diary titles. Don't write diaries whose main purpose is to deliberately inflame.
Please begin with an informative title: