Walmart Avoids Billions In U.S. Taxes And Is Working To Change The Law So It Can Dodge Billions More

[mitty14u2]

2014 WASHINGTON – A new report released Thursday by Americans for Tax Fairness (ATF) reveals that Walmart uses tax breaks to dodge a whopping $1 billion annually, on average, in federal taxes. It also shows how Walmart is working behind the scenes to help lower the U.S. corporate tax rate to 25%, which would allow Walmart to cut its tax bill on average another $720 million a year.

The report, How Walmart is Dodging Billions in Taxes: And Scheming to Avoid Billions More, also reveals that the company currently holds $21.4 billion in profits offshore, where those earnings are exempt from federal taxes until they are brought back to the United States – which may never occur. Walmart’s offshore profits have doubled in recent years at the same time that its offshore investments flatlined, suggesting that the company is piling up cash overseas to avoid paying U.S. taxes on the earnings.


The study also reveals the ways in which Walmart is working to reduce corporate tax rates and eliminate all taxation of foreign profits, known as a territorial tax system. Walmart lobbies heavily on Capitol Hill to gain influence over the legislative process, employing 74 lobbyists and spending $32.6 million lobbying on taxes (the company’s top lobbying priority) and other issues over the past five years. Walmart also tries to buy access to lawmakers by contributing heavily to their campaigns – giving $6.1 million since 2009, disproportionately to members of the two Congressional tax-writing committees. In addition, Walmart is the only corporation among its competitors that is a member of three major industry organizations that are leading the public relations and lobbying campaigns to “reform” the tax system – the RATE (Reforming America’s Taxes Equitably) Coalition, the Alliance for Competitive Taxation and the Business Roundtable.

“When Walmart dodges billions in taxes the rest of us are forced to pick up the tab,” said Frank Clemente, executive director of Americans for Tax Fairness. “It means higher deficits, higher taxes on American families and small businesses, or slashed budgets for services we count on.”

https://americansfortaxfairness.org/new-report-reveals-that-walmart-avoids-billions-in-u-s-taxes-and-is-working-to-change-the-law-so-it-can-dodge-billions-more/

Hillary, Bernie, Wal-Mart, and Workers. Wal-Mart and the distinctions between Clinton/Sanders.



Its all over now except for the years of crying as Trump holds on to the Rule Book and Sits on the Law it does not apply to him or Republicans!.

[Nitram]

1. Scratch any so-called patriot and you'll find a

capitalist for whom profit is the first priority.

[PatsFan87]

2. This is why the "who's going to pay for it?" arguments, sometimes even in our own party,

are extremely frustrating. Let's go after the people and corporations dodging their taxes.

[Doreen]

3. I think Walmart is evil.

I go there to take my mother and I sit and wait on the benches in the entry and wonder how many of those people voted for trump thinking that he would improve their lives all around. I worked for Walmart and they are horrible to their employees. I also know a lot of people who still work for them or have worked for them and they say the same thing. I will admit that once in awhile I buy cat litter there if I need it and I am already taking my mother. and I get a couple of doughnuts or candy while I wait for my mother. Other than that I do not buy from them. I do not actually mind buying the cat litter because other than being cheaper I like the idea that something from Walmart is getting shit on.