In the News

In 2012, Walmart banked $22.1 billion in profit and paid $5.3 billion in federal taxes. But if it had increased wages for its workers from $7.25 (the current minimum wage) to $12.50, it would have simply deducted the expense from its taxable income and would likely have passed along the increase to its customers, estimated at 46 cents per shopping trip or $12.49 a year for the average shopper who spends more than a $1,000, so there would have been no impact at all on pocketable profits.


In fact, the Volcker rule is already federal law, passed as part of the massive financial sector overall bill known as the Dodd-Frank Act, signed in 2010. But since that time, five separate regulatory agencies, including those that focus on the markets and others on the banks, have been working to come up with a rule that will satisfy all parties.

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I'm not exactly sure what it is about the hit British TV series, Downton Abbey, that has enthralled so many of us. The scenery is great, Lady Mary's wardrobe is just fabulous, but there are plot holes so huge one could drive Lady Edith's car through them.

They walked through the parking lot of the Walmart Supercenter at Oakwood Commons, handing out fliers, then continued into the store with the same message for the Black Friday bargain hunters: Walmart pays its workers too little.

Anthony Goytia, who works nights stocking shelves at a Walmart store in Duarte, Calif., says all he wants from the retailer is a living wage and a little respect. "I'm a hard worker and take pride in my work," said the 31-year-old, who as a part-time employee earns $9.60 an hour, or roughly $12,000 a year. "I'm not a slacker. I'm there on time. I give it my all, and it's only fair I should be compensated for that."

This month may prove to be one of the most historic in Walmart’s half-century-long existence. On Monday, Walmart announced plans to replace CEO Michael Duke, who has presided over depressed sales figures, bribery scandals, and controversy over the company’s poverty-level wages.

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One of the most profitable corporations in America is having a holiday food drive. Sounds good -- it's the least Corporate America can do for those struggling to make ends meet while big companies rake in record profits and give so little back. But wait... there's a catch. The food drive is for the company's own underpaid, poverty-stricken workers. You really can't make this stuff up.

Black Friday is the day when many Americans find refuge in the corporations that squeeze them out of the middle class.
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“People across the country are starting to see the real Walmart,” said Q Knapp, a Texas Walmart worker who went on strike Wednesday. “And that’s why I will continue to stand up because the time for change is now.”

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Walmart is the largest private employer in the country, and the company's low-wage, part-time business model has an enormous impact on our country's labor, business, and employment climate. The "Walmart Economy" is a disaster for most Americans. That's why we should all be thankful that, during this holiday season, Walmart workers across the country are again leading the fight to change the way Walmart does business.