A recent analysis by Making Change at Walmart (MCAW) has found that the Walton family, the majority owners of Walmart, Inc., netted an estimated $1.1 million every day for the past 16 years, totaling over $6.5 billion, in dividend income tax savings just on their Walmart share holdings.
This billion-dollar savings is a result of a series of “tax reforms” passed by Congress during the Bush, Obama, and Trump administrations. The level of tax savings reflects not only a broken tax system that has been exploited by the Walton family, but shows the indifference the largest Walmart shareholders have to the economic plight facing tens of thousands of Walmart workers who depend on taxpayer-funded government assistance and programs.
“It should anger working and middle class Americans of all political backgrounds that they pay taxes while the Walton family reaps the rewards of a $6 billion-dollar tax break,” said Amy Ritter, communications director for MCAW. “It is time Americans know that the Walton family, the wealthiest family in the world, is being subsidized by tax cuts even as many Walmart workers live paycheck-to-paycheck with jobs that have few benefits. It is time for our political leaders to wake up to the reality that our broken tax system is helping the least deserving and hurting the most deserving.”
The full analysis is available here.