Robert Reich: Walmart profits jumped to $15 bil in 2023-most benefits going to the children of Sam. Textbook greed

[Dennis Donovan]

Link to tweet

Robert Reich
Walmart profits jumped to $15 billion in 2023.

Did it substantially increase wages or lower prices? No.

It spent $9B on dividends and buybacks — with most of the benefits going to the children of Walmart's founder, who together own 46% of the company's stock.

Textbook greed.

[multigraincracker]

1. Either make Buy Backs illegal, tax the hell out of them.

Also, treat Capital Gains the same as wages for taxes.
I see greed on that scale as pathological.

[bucolic_frolic]

2. I find little price value in Walmart

An item here or there. I no longer shop for food in Walmart. My old-time full retail supermarket, plus Aldi's and a discount chain, beat Walmart on most items especially meat.