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kentuck

(111,095 posts) Wed Jun 17, 2015, 01:31 PM Jun 2015

Wal-Mart hides $76 billion in overseas tax havens while taxpayers help feed low-wage workers: study

<snip>

Wal-Mart Stores Inc. was able to avoid paying $3.5 billion in taxes last year by owning $76 billion of its assets in overseas tax havens, a study found this week.

United Food & Commercial Workers International Union research published by Americans for Tax Fairness on Wednesday showed that Wal-Mart had created more than 78 offshore subsidiaries and branches since 2009 that the company had not disclosed in U.S. securities filings, Bloomberg reported.

According to the study, 90 percent of the overseas assets owned by Wal-Mart were through two of the most popular tax havens in the world, Luxembourg and the Netherlands.

Although the company has no stores in Luxembourg, it reported $1.3 billion profits in the country between 2010 and 2013, which were taxed at a rate of less than 1 percent.

...more at link

http://www.rawstory.com/2015/06/wal-mart-hides-76-billion-in-overseas-tax-havens-while-taxpayers-help-feed-low-wage-workers-study/

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Wal-Mart hides $76 billion in overseas tax havens while taxpayers help feed low-wage workers: study (Original Post) kentuck Jun 2015 OP

"Kick 'em in the head, Johnny" jberryhill Jun 2015 #1

Alexander Hamilton,.... odd_duck Jun 2015 #2

And he would be considered a Republican today. kentuck Jun 2015 #4

Yet they have the gall to air ads saying how much they care about their employees Panich52 Jun 2015 #3

If they cannot re-invest enough of their profits, including wage increases, then... kentuck Jun 2015 #6

And, I'll bet they sleep just fine each night. Frustratedlady Jun 2015 #5

Who's gonna give their Mac (Apple) ? kentuck Jun 2015 #7

These are the real criminals in our society. Initech Jun 2015 #8

jberryhill

(62,444 posts)

1. "Kick 'em in the head, Johnny"

Reply to kentuck (Original post)

Wed Jun 17, 2015, 01:44 PM

Jun 2015

odd_duck

(107 posts)

2. Alexander Hamilton,....

Reply to kentuck (Original post)

Wed Jun 17, 2015, 01:58 PM

Jun 2015

the Founding Father who championed the idea of MANUFACTURING here in America and having import tariffs to protect those jobs, is rolling in his grave.........

kentuck

(111,095 posts)

4. And he would be considered a Republican today.

Reply to odd_duck (Reply #2)

Wed Jun 17, 2015, 02:00 PM

Jun 2015

Most likely.

Panich52

(5,829 posts)

3. Yet they have the gall to air ads saying how much they care about their employees

Reply to kentuck (Original post)

Wed Jun 17, 2015, 01:59 PM

Jun 2015

We need to bring back and increase fines under Truth in Advertising laws.

kentuck

(111,095 posts)

6. If they cannot re-invest enough of their profits, including wage increases, then...

Reply to Panich52 (Reply #3)

Wed Jun 17, 2015, 02:03 PM

Jun 2015

...our Congress should pass a bill, or add to the present bill (TPP), a tariff on all these overseas corporations that are hiding their profits overseas. It should equal the amount of taxes they should have paid if they had not absconded with all the profits.

Frustratedlady

(16,254 posts)

5. And, I'll bet they sleep just fine each night.

Reply to kentuck (Original post)

Wed Jun 17, 2015, 02:03 PM

Jun 2015

They should feel so shameful that the rest of the country is paying for food stamps, rent subsidies and medical care because they are so selfish and won't pay their employees a living wage.

This is a reminder of why I've refused to shop at WalMart for years.

If there is a god, he/she should meet them at the gates of heaven and redirect them to hell.

kentuck

(111,095 posts)

7. Who's gonna give their Mac (Apple) ?

Reply to Frustratedlady (Reply #5)

Wed Jun 17, 2015, 02:06 PM

Jun 2015

If a corporation is "born" or originates in this country, then it is an American corporation and cannot declare themselves a world citizen, with the right to exploit labor forces as they wish.

Initech

(100,076 posts)

8. These are the real criminals in our society.

Reply to kentuck (Original post)

Wed Jun 17, 2015, 02:14 PM

Jun 2015

And they get away with it too.

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