Wednesday, March 26, 2014

Another for-profit giant that relies on government funding.

This is a selfmade image from the english wiki...
This is a selfmade image from the english wikipedia. The photographer has uploaded it as GFDL (Photo credit: Wikipedia)
Walmart's profits reportedly depend heavily on food stamps:

The analogy in my sector --- higher education --- is to the for-profit universities.  Many play a cute game:
1.  Entice people to apply to their programs.
2.  Encourage these students to take large loans to pay tuition.
3.  Pocket the tuition as salaries, bonuses and dividends.
4.  Meanwhile the students either drop out or graduate and find no gainful employment, either way defaulting on their loans.

Uncle Small has just paid those salaries, bonuses and dividends.  Meaning that you and I, the middle class taxpayers, have paid them.  But the company still claims to be a for-profit, entrepreneurial enterprise, no doubt condemning taxes.

From General Electric, which reportedly has paid no US income taxes for years, to Haliburton which made billions provisioning the illegal war in Iraq, to Walmart's profits from food stamps while exploiting the very workers who ofttimes require them… it's great to be a corporation doing business in America today.

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