Wednesday, December 22, 2004

Wal-Mart elected "Grinch of the Year" for 2004

The retailing giant Wal-Mart was named 'Grinch of the Year' in a national online poll held between December 6 and December 22 by Jobs with Justice.
Wal-Mart is a fitting recipient of the Grinch title. As the United States' largest retailer and largest employer, Wal-Mart is a driving force in setting wage standards wherever its stores are located. Despite nearly $9 billion in profits, its wages are so low that many employees are eligible for food stamps. Even so, local taxpayers often finance Wal-Mart's expansion through tax breaks and development incentives.
Wal-Mart has created such high barriers to qualify for its health care benefits, that many workers are left dependent on publicly financed medical services, a largely hidden taxpayer subsidy. According to a research study in California, Wal-Mart workers seek $86 million a year in state aid because of inadequate wages and benefits. In effect, Wal-mart cleverly shifts a portion of its labor costs to the public.

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