In Rare Moment of Honesty, Wal-Mart Admits that Food Stamps Subsidize their Profits ...Walmart has been in the national spotlight for their poverty wages and employees’ reliance on government assistance. In their quarterly report, Walmart is set to announce that their profits have taken a hit. In a moment of rare honesty, they cited the Republican funding cut to the federal food stamp (SNAP) program as a part of the reason for their lower profit margins, admitting that the federal food stamp program amounts to corporate welfare that subsidizes their profits. “Walmart caters to lower-income consumers which have been hit disproportionately hard,” said Morningstar analyst Ken Perkins.
Posted on: Sun, 02 Feb 2014 02:58:46 +0000
Trending Topics
Recently Viewed Topics
© 2015