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Nov 27 - Walmart Family rushes to net $180Million before Bush taxcuts expire

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 Nov 27 - Walmart Family rushes to net $180Million before Bush taxcuts expire
Unread 3 years agoclass of '05 - away - #1
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autoraptronix 10 heat pts10 space
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World’s Richest Family Takes $180 Million More From Americans


The Wal-Mart heirs, who make up the world’s richest family by far, are expected to collectively dodge as much as $180.6 million in federal income taxes, thanks to aggressive pursuit of tax benefits set to expire Dec. 31, 2012.


In a move that received little attention due to the Black Friday Strike coverage, the Wal-Mart board announced Nov. 19 that it will rush payment of its quarterly dividend, giving shareholders their bonuses on Dec. 27, instead of Jan. 2 as previously scheduled, reports the New York Times.



What a difference six days makes.

The Walton family, which founded Wal-Mart, could save as much as $180 million in federal income taxes after the huge retailer announced Monday that it would pay out its quarterly dividend on Dec. 27 instead of Jan. 2, as was scheduled.

The change will allow the family and other Wal-Mart shareholders to record the income this year, when the federal tax rate on dividends tops out at 15 percent. Next year, if the Obama administration and Republicans are unable to reach a compromise, that rate is set to jump sharply to 39.6 percent. High earners will have to pay an additional 3.8 percent on most investment income to help pay for the new federal health care law, bringing the total possible tax bite to 43.4 percent.
Early Dividend for Wal-Mart Is Latest Move in Tax Scramble - NYTimes.com

[pic - click to view]




The Walton family’s 2012 take of the pie is estimated at a combined $636 million. After taxes, the Walton family should net $540.6 million from the Dec. 27 payment, saving the family $180.6 million over paying the taxes next year as scheduled (based on figures tax attorney Kenneth K. Bezozo supplied to the New York Times).

The three Walton family members who sit on Wal-Mart’s board recused themselves from the vote, which doesn’t seem to deflect much suspicion about who’s backing the tax avoidance action. Each of the Walton family board members will make tens of millions off the early dividend payment.

Keep in mind that these people do not need a tax break. Instead, they should readjust their notions of what’s fair considering American consumers, workers, land grants, and infrastructure made them rich. The Walton family, who pay most of their workers minimum wage with sparse benefits, have a combined wealth of $102.7 billion, which is 49% GREATER than the wealth of the #1 richest person in the world (Carlos Slim, worth $69 billion according to Forbes).

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Walmart files a complaint against striking workers and at the same time moves to dodge taxes and steal $180 Million from taxpayers. Money that shoulda went to the foodstamp programs their workers depend on($2.66Billion in foodstamps and medicare just to walmart employees). This is why we need a federal living wage law.

This from the same corporation that just suspended 3 workers with pay for murdering a shopper accused of stealing (video below). Pure Evil. imageimageimage

Last edited by autoraptronix; 11-27-2012 at 05:14 PM..
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2 peeps gave props to autoraptronix Ratty Tat Tat (11-28-2012) , hot topic  (11-27-2012)

16 comments for "Nov 27 - Walmart Heirs to net $180Million before Bush taxcuts expire"

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Unread 3 years agoclass of '07 - away - #2
CadillacVyse 568 heat pts568 space
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Unread 3 years agoclass of '04 - away - #3
SpyDa 163 heat pts163 space
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Unread 3 years agoclass of '11 - away - #4
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im starting to think these type of people see the world like a game of risk. theyre worth $100 billion. they literally gain nothing from this beyond preventing others from getting it.
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Unread 3 years agoclass of '09 - away - #5
messy marv stan 2861 heat pts2861 space
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there is no need to have even a billion dollars...there is a lot of good that these walmart regime owners can do with a billion or so...give the employees a $2 hour wage increase or offer to pay for ther benifits
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Unread 3 years agoclass of '05 - away - #6
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Gatorfan2611 said:
im starting to think these type of people see the world like a game of risk. theyre worth $100 billion. they literally gain nothing from this beyond preventing others from getting it.
Its a master-slave complex. They look at their workers as less-than-human. They made at least $1Billion off the Bush taxcuts since they came into law. And during all that they were fine with being the #1 recipient of government foodstamps and medicare to their workers.

If you look at the conditions their factories workers put up with it begins to look sadistic to profit off that kind of mass suffering. The Bangladash factory where 112 died in the fire was a walmart factory. Could you imagine 112 people dying in a factory fire in the states?? People would be demanding murder charges. We need a new word to describe these corporate psychopaths.

Now 112 people were just burned alive days ago and what is the response from walmart and fox?

The workers should be thankful


[video - click to view]


I know he's not an official spokesman for walmart but he might as well be. This is their positon.
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Unread 3 years agoclass of '06 - away - #7
nightmare 429 heat pts429 space
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autoraptronix said:
Its a master-slave complex. They look at their workers as less-than-human. They made at least $1Billion off the Bush taxcuts since they came into law. And during all that they were fine with being the #1 recipient of government foodstamps and medicare to their workers.

If you look at the conditions their factories workers put up with it begins to look sadistic to profit off that kind of mass suffering. The Bangladash factory where 112 died in the fire was a walmart factory. Could you imagine 112 people dying in a factory fire in the states?? People would be demanding murder charges. We need a new word to describe these corporate psychopaths.

Now 112 people were just burned alive days ago and what is the response from walmart and fox?

The workers should be thankful



I know he's not an official spokesman for walmart but he might as well be. This is their positon.
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Unread 3 years agoclass of '11 - away - #8
DboyFlexxxin  space
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every wants to say they could give more, a lot of people dont realize how much they ACTUALLY give. Thanks to a very large donation from them, i got to a top 25 business school in the country. The Walton College of Business. Also, in the area i live they give soooooo damn much they basically run the city, which does have downsides with the upsides. A new art gallery they built to bring tourism and other benefits to Northwest Arkansas, which some describe as the best in the world, requires a lot of money. They spend $300 MILLION a year for upkeep of this with paintings and such, all from a wal mart expense report. They could do other things with that money. Without going to long, they do soooo much good with their money.


On the other side, sure they could help out other people. But look at any other Fortune 500 company and their CEO. Do they hand out extras? No. So why does every one single out wal mart for this? Idk. Hourly workers want more benefits, what about McDonalds or other places hourly workers? They dont receive anything extra. I might sound biased, but really wal mart is like any other Major company. So really attention should be focused on others as well
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Unread 3 years agoclass of '04 - away - #9
matik23  space
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I understand what the article is trying to point out. but damn dude... a 43.4% tax bite on top income earners. With this tax increase, I would a.ssume business owners would start laying off workers, and investing less into america. I only see more debt and increase in unemployment coming our way.
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Unread 3 years agoclass of '07 - away - #10
CadillacVyse 568 heat pts568 space
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matik23 said:
I understand what the article is trying to point out. but damn dude... a 43.4% tax bite on top income earners. With this tax increase, I would a.ssume business owners would start laying off workers, and investing less into america. I only see more debt and increase in unemployment coming our way.
There is a difference between personal income tax and corporate tax. And what the Walmart share holders are specifically taking advantage of is the capital gains tax.

Last edited by CadillacVyse; 11-27-2012 at 09:19 PM..
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Unread 3 years agoclass of '07 - on now - #11
Ham Rove 2779 heat pts2779 space
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DboyFlexxxin said:
every wants to say they could give more, a lot of people dont realize how much they ACTUALLY give. Thanks to a very large donation from them, i got to a top 25 business school in the country. The Walton College of Business. Also, in the area i live they give soooooo damn much they basically run the city, which does have downsides with the upsides. A new art gallery they built to bring tourism and other benefits to Northwest Arkansas, which some describe as the best in the world, requires a lot of money. They spend $300 MILLION a year for upkeep of this with paintings and such, all from a wal mart expense report. They could do other things with that money. Without going to long, they do soooo much good with their money.


On the other side, sure they could help out other people. But look at any other Fortune 500 company and their CEO. Do they hand out extras? No. So why does every one single out wal mart for this? Idk. Hourly workers want more benefits, what about McDonalds or other places hourly workers? They dont receive anything extra. I might sound biased, but really wal mart is like any other Major company. So really attention should be focused on others as well
@ wal mart being the same as any other company,
The study, "Hidden Cost of Wal-Mart Jobs," found that the average Wal-Mart worker required $730 in taxpayer-funded healthcare and $1,222 in other forms of a.ssistance, such as food stamps and subsidized housing, to get by.

Even compared to other retailers, Wal-Mart imposes an especially large burden on taxpayers. Wal-Mart workers earn 31 percent less than the average for workers at large retail companies (more than 1,000 employees), the study found, and require 39 percent more in public a.ssistance.
fu*k Wal Mart
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Unread 3 years agoclass of '07 - on now - #12
Ham Rove 2779 heat pts2779 space
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matik23 said:
I understand what the article is trying to point out. but damn dude... a 43.4% tax bite on top income earners. With this tax increase, I would a.ssume business owners would start laying off workers, and investing less into america. I only see more debt and increase in unemployment coming our way.
Tax rates on the highest earners in from the 40s up until I believe 1980 where never below 76 percent. Soooo 43.4 isn't that bad.
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Unread 3 years agoclass of '08 - away - #13
slickdip  space
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Dont blame Walmart, blame the government. Why the fu*k did Bush give these companies tax cuts??? Like any company, they gonna milk for as long as they can.
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Unread 3 years agoclass of '04 - away - #14
ShadyKidd  space
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Not to defend Walmart, but this article is a little misleading. Every single Walmart shareholder (which includes most Walmart employees) will benefit from them expediting their dividend payment. It just so happens that the Walmart family is the largest shareholder so they benefit the most.

I would fully expect any company who typically issues a January dividend to move it up to December so all their stakeholders can benefit from the tax benefits.

Don't believe the left-wing media about these 'evil' corporations. It is companies just like Walmart that helped our country achieve the financial prosperity we had in the 90s.

For the record, I am not a fan of Walmart as I think they mistreat their employees. But I just can't let this article mislead everyone so easilily. Overly taxing corporations and 'wealthy' people will not solve our financial crisis. Guaranteed. It can only make things worse.
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Unread 3 years agoclass of '07 - on now - #15
Ham Rove 2779 heat pts2779 space
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rofl fu*k Walmart

Last edited by Ham Rove; 11-29-2012 at 05:53 AM..
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Unread 3 years agoclass of '09 - away - #16
messy marv stan 2861 heat pts2861 space
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walmart is distancing itself from the factory fire
they dont wanna take the blame for the workers deaths
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