May 25, 2004
Sound familiar?
In non-sports-related corporate giveaway news, the subsidy-watch group Good Jobs First reports that Wal-Mart has received more than $1 billion in taxpayer subsidies for its stores and distribution centers, via land grants, job-training funds, sales tax rebates, and other tax and infrastructure subsidies. "That a company with $9 billion in profits can wrest job subsidies from state and local governments shows that the candy store game has gotten out of control," said GJF director Greg LeRoy.
Wal-Mart spokesperson Mona Williams retorted: "We think the report in fact shows that the subsidies are a great thing for us. Do the math and you will see that every dollar invested with Wal-Mart has returned more than $30 for the community." In an e-mail to fieldofschemes.com, LeRoy called this calculation "an astonishing display of Orwellian chutzpah," noting that sales at stores such as Wal-Mart are generally pirated from existing retailers. "There is no net fiscal benefit to the states. People do not have more disposable income because they have more places to shop."
