search
Sections List
American Journal News

Walmart gets $2 billion windfall from the GOP tax scam — then lays off workers

Walmart got over $2 billion in extra money thanks to Trump and the GOP. Instead of investing that in its workers, it’s continuing to lay them off.

By Lisa Needham - June 18, 2019
Share
Trump

At the same time Walmart is raking in cash from the GOP tax scam, it’s laying off hundreds of workers.

The company just announced it would be laying off 569 people in Charlotte, North Carolina because it is outsourcing its finance and accounting operations. A “professional services firm” in Walmart’s home state of Arkansas will take over those duties instead.

Walmart issued a statement about the layoffs, saying that as the company evolves, “we must strike the right balance between managing the needs of our business, our associates and our customers.”

But thanks to Trump’s massive tax giveaway to Walmart, the company really shouldn’t need to “strike the right balance” by letting people go. Walmart has plenty of extra money right now.

Data from December 2018 showed that the tax cuts gave Walmart an extra $1.6 billion in the first three quarters of 2018 alone. Estimates show that Walmart could see a savings of $2.2 billion every year.

This isn’t even the first time Walmart has cut workers since receiving a windfall from the Trump tax cuts. In January 2018 — even as Trump was touting Walmart as an example of “Great news as a result of our TAX CUTS & JOBS ACT!” — the company announced it was closing 63 Sam’s Club stores and laying off thousands of people.

And it isn’t just Walmart. Kimberly-Clark bragged that the tax savings would be “the equivalent of a 6% increase in earnings,” but then turned around and decided to cut 5,000 jobs. Qualcomm announced a $10 billion stock buyback, which benefits wealthy shareholders, while cutting 1,500 jobs in California.

Meanwhile, the head of Walmart, Doug McMillon, earned $22.8 million last year — and he’s got the ear of the Trump administration. He sits on Trump’s advisory council on workers that is woefully short on workers, but long on rich CEOs. Besides McMillion, the CEOs of Apple, Visa, Lockheed Martin, and Home Depot are members of the council. All of them rake in millions of dollars per year.

Trump’s team only listens to rich people and only rewards rich people. These Walmart layoffs are just the latest example of this, but they certainly won’t be the last.

Published with permission of The American Independent Foundation. 


AJ News
Get the latest news here first.

Tai News

Newsletter
Read More
AJ News
Latest
Republican David McCormick invests millions in website that platforms Holocaust denial

Republican David McCormick invests millions in website that platforms Holocaust denial

By Jesse Valentine - February 09, 2024
Lawmakers will again take up bills expanding, tightening gun laws

Lawmakers will again take up bills expanding, tightening gun laws

By Annmarie Timmins, New Hampshire Bulletin - January 31, 2024
UAW delivers rousing presidential endorsement for Biden over ‘scab’ Trump

UAW delivers rousing presidential endorsement for Biden over ‘scab’ Trump

By Ashley Murray, States Newsroom - January 24, 2024
Republicans Sam Brown and Jeff Gunter sling mud in Nevada senate primary

Republicans Sam Brown and Jeff Gunter sling mud in Nevada senate primary

By Jesse Valentine - January 17, 2024
A Young Texas Woman Almost Died Due To The Texas Abortion Bans – Now She’s Battling To Save Other Women

A Young Texas Woman Almost Died Due To The Texas Abortion Bans – Now She’s Battling To Save Other Women

By Bonnie Fuller - January 10, 2024
Health care legislation preview: Maryland advocates want to focus on access, patients in 2024 session

Health care legislation preview: Maryland advocates want to focus on access, patients in 2024 session

By Danielle J. Brown, Maryland Matters - January 08, 2024
How GOP senate hopefuls try to excuse the  January 6 insurrection

How GOP senate hopefuls try to excuse the  January 6 insurrection

By Jesse Valentine - January 05, 2024
NH lawmakers will be taking up major voting bills this year. Here are some to watch for.

NH lawmakers will be taking up major voting bills this year. Here are some to watch for.

By Ethan DeWitt, New Hampshire Bulletin - January 04, 2024
Republican US Senate candidates want to make Trump’s tax cuts permanent 

Republican US Senate candidates want to make Trump’s tax cuts permanent 

By Jesse Valentine - December 22, 2023
Rand Paul went all in on the Kentucky governor’s race. It didn’t work.

Rand Paul went all in on the Kentucky governor’s race. It didn’t work.

By - December 15, 2023
Texas governor and attorney general do little to curb state’s chemical plant crisis

Texas governor and attorney general do little to curb state’s chemical plant crisis

By Jesse Valentine - December 08, 2023
Likely GOP Senate candidate Eric Hovde proposed tax hike for poorer workers and retirees

Likely GOP Senate candidate Eric Hovde proposed tax hike for poorer workers and retirees

By Jesse Valentine - December 07, 2023
Whitmer signs specific criminal penalties for assaulting health care workers into law

Whitmer signs specific criminal penalties for assaulting health care workers into law

By Anna Liz Nichols, Michigan Advance - December 06, 2023
105 Republicans voted to expel Santos for things Trump has also done

105 Republicans voted to expel Santos for things Trump has also done

By Jesse Valentine - December 05, 2023
For Texas Sen. Ted Cruz, another Trump term is another chance to kill Obamacare

For Texas Sen. Ted Cruz, another Trump term is another chance to kill Obamacare

By Jesse Valentine - December 04, 2023
Florida Sen. Rick Scott backs Donald Trump in revived push to repeal Obamacare

Florida Sen. Rick Scott backs Donald Trump in revived push to repeal Obamacare

By Jesse Valentine - November 30, 2023
Tate Reeves took donations from power company that hiked customer rates

Tate Reeves took donations from power company that hiked customer rates

By Jesse Valentine - November 06, 2023
Daniel Cameron ran on depoliticizing the Kentucky AG’s office. He made it more political.

Daniel Cameron ran on depoliticizing the Kentucky AG’s office. He made it more political.

By Jesse Valentine - November 03, 2023
Republican operatives sound every alarm on current trajectory of 2023 governor’s race

Republican operatives sound every alarm on current trajectory of 2023 governor’s race

By Adam Ganucheau, Mississippi Today - October 24, 2023
Republican Bernie Moreno opposes existence of minimum wage

Republican Bernie Moreno opposes existence of minimum wage

By Jesse Valentine - February 23, 2024
Texas Gov. Greg Abbott floats building a wall on the Oklahoma border

Texas Gov. Greg Abbott floats building a wall on the Oklahoma border

By Jesse Valentine - February 22, 2024
More than 48,600 18-year-olds are registered to vote in Ohio, a 35% increase from late August

More than 48,600 18-year-olds are registered to vote in Ohio, a 35% increase from late August

By Megan Henry, Ohio Capital Journal - February 22, 2024
Not if, but when: Parents of slain Parkland students urge Utah lawmakers to pass school safety bill

Not if, but when: Parents of slain Parkland students urge Utah lawmakers to pass school safety bill

By Kyle Dunphey, Utah News Dispatch - February 21, 2024
Key takeaways from Monday’s U.S. Senate Ohio Republican primary debate

Key takeaways from Monday’s U.S. Senate Ohio Republican primary debate

By Nick Evans, Ohio Capital Journal - February 20, 2024
Human, financial costs of gun violence are growing dramatically, health care group says

Human, financial costs of gun violence are growing dramatically, health care group says

By Marty Schladen, Ohio Capital Journal - February 20, 2024