Bernie Sanders tells the truth about Walmart
Bernie Sanders used Walmart as the poster company that illustrates what a rigged economy looks like as the company pilfers the taxpayers. He did not mince his words.
“Today in America you have one family, the Walton family, Walmart, owning more wealth than the bottom 40%,” said Bernie Sanders. “When I talk about our economy, I use a term called a rigged economy. People like Elizabeth Warren and I use that term. What does that mean, a rigged economy? Let me give you one of many examples. The Walton family, the wealthiest family in America — they own Walmart. You all know that. It turns out that the Walton family in my view, is the major recipient of public welfare in America. What do I mean by that. What I mean is that the wages they pay their workers are so low that many of their workers, — they by the way are now the largest private sector employer in America — that many of their workers are on Medicaid, are on food stamps, or are in subsidized housing which you are paying for in your taxes. Your taxes go to pay for Medicaid, food stamps, and subsidized housing.”
Americans must understand that tax cuts and low wages by definition only help the rich. Why? Because ultimately the middle-class pays for the welfare given to the underpaid and the repayment of the debt created.
Another obscenity that is not talked about is the double whammy. By supporting low taxes, the middle-class allows the wealthy the very cash they use to fund deficit spending. The caveat is the wealthy get additional income for the interest we pay them for loaning us the tax cuts we gave them.
In other words, we give them the money in order for them to make a profit from loaning it back to us. It is transfer of wealth from the middle-class to the wealthy. That is what actually occurs. That is what’s never spoken about.