Right now, the rating for this story is a joke (0.6). What in the World does it take to merit a stronger negative impact rating? Buggering employees with a broomstick?

One might ask how this is necessarily bad, right? By minimizing taxes, which is something that all people and organizations aim to do, the company has $230 million with which it can invest in anything it choses, like solar power systems, lower prices, higher divendends paid to investors, etc. If the money is mis-spent in ways that impact people negatively, well, that is another story to be posted.

Are you serious? “minimizing taxes, which is something that all people and organizations aim to do”? I think there is a bit of a difference in someone trying to claim for a business meal and Wal-Mart depriving local governments of $230m a year. That is money that could be used for schools, etc. What is the company doing with the money it saves? It sure as hell isn’t improving conditions for employees, helping the local communities or lowering prices.

I am not necessarily arguing for or against either, I am just simply saying that the money saved could still theoretically be used to make a positive impact. While it sounds a bit more provocative to imagine that the money would go to schools, only roughly 2% of the US Federal Budget goes to education… so about $6MM of the $230MM. I personally would much rather “invest” in a cause directly, in order to maintain control and maximize its impact, rather than surrender control completely, write the check to Uncle Sam, in hopes that some of it ends up in the hands of the people who will make a real difference in society.

A quick look at the US Federal Budget is eye-opening.

I’m having trouble seeing what the problem is here. I haven’t read the whole story, but it seems as though Walmart is being accused of respecting the law and in the process avoiding paying some taxes. Doesn’t everybody and every company avoid taxes (as opposed to evade taxes)? I don’t know about other readers on this site, but I have never willingly paid more tax than I was legally obliged to pay. In fact, last year my accountant found that I had overpaid my taxes by about $800 in a previous year because of an aspect of tax law that I didn’t know about and she was able to get me a refund. Am I corrupt? Did I exploit a loophole that I shouldn’t have? Should I have let the government keep that money as my additional contribution to “schools” and “hospitals”? I think not. Not that I think schools and hospitals are not worthy causes, but if I want government to do more on these fronts I’ll ask them to raise my taxes or readjust their budget. I suspect Walmart feels the same way.

Wal-Mart is operating entirely within the law here. If you are of the view that the law needs to be changed we have a well-known path in this country for doing so. I really can’t imagine that any of the neg posters would willingly pay more tax than is required of them. Save your flames for someone breaking the law. Or better yet, bash Bono for shipping U2’s royalty money through the Netherlands in order to avoid taxes in Ireland—see the article from the New York Times to get the full story. At least Wal-Mart is not out there urging governments to up their contributions to the world’s poor while at the same time trying to deprive one or more of those governments of the resources that would assist them in pursuing that course.

Many, many, many companies follow this model. Although the rent is an expense and deductable from Walmarts books it is an income on the books of the Walmart Real Estate company. If Walmart was not doing this then whoever owned the real estate would be getting the rent and Walmart would still be deducting it as an expense. This is not a loophole regardless of the characterization.

People have been doing it since the 60’s and it goes in and out of vogue depending on whether it gives a strong or weak advantage. It became less interesting after bank deregulation because money was a lot easier to get. Remember you lose your depreciation which is really bad.

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Here’s a story regarding WalMart’s shenanigans

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~Lauren