New Castle News

March 17, 2014

Taxpayers cover costs of greedy corporations

By Staff
New Castle News

NEW CASTLE — Editor, The News:

Let’s see the other side of the historically low wage rates.

Robert Miller’s excuse for this (letter to the editor) is the company needs to make a profit.

Take the case of Walmart. Does it make money? Sure. The Waltons, the majority stock holders, are among the richest in the world, worth as much as $144.7 billion according to Forbes List for 2013. They are well known to fight tooth and nail to avoid paying taxes, investing more than $1 billion in Alice Walton’s Crystal Bridges Museum as an example.

The other side of Walmart is the low wages it pays employees, the ones who earn the money. More Walmart employees are on Medicaid and food stamps than any other company. Theirs isn’t the only American corporation making hundreds of millions doing the same to its employees.

Who takes up the slack for these companies refusing to pay a fair wage? Who pays for Medicare, food stamps and other safety net programs? The taxpayers of course.

The irony is that the same group who complain about tax rates and America’s safety net are the same ones who defend the greed displayed by corporate America and its owners.

Even many military families are dependent on food stamps. At a time when their services have been so appreciated, our government can’t see fit to pay them their due.

The shifting of wealth to the rich has been occurring for years. It’s trickle down economics. Let the rich get richer and they’ll share with the working folk. The trouble: They don’t seem to want to share too much.

When Miller complains about wages, taxes and government rest assured these wealthy companies aren’t hurting. He shouldn’t hold his breath for a thank you card. He should just pay his taxes with a smile.

Fred Minteer

Minteer Lane