The Waltons – who became the richest family in the world by inheriting Wal-Mart – are going to make a stealth appearance in the State Of The Union tonight when President Obama discusses his proposals to close tax loopholes that unfairly benefit the ultra-rich.
Two weeks ago, Marketplace reported that Walmart is the biggest beneficiary of SNAP, the taxpayer-funded food stamp program. Not only does it rake in the largest share of food stamps of any retailer, but because of the notoriously meager wages it pays store associates, the company is believed to have the most employees who qualify for food stamps.
According to a new report from the Institute for Policy Studies (IPS), Walmart CEO Mike Duke took advantage of a tax loophole that saved him almost $6 million in 2011 federal income taxes.
On Saturday, presumptive Republican Presidential nominee Mitt Romney announced that Rep. Paul Ryan of Wisconsin would be his running mate. The Waltons’ support of Mitt Romney has been well noted, and it turns out the Waltons and Walmart have also shown an interest in Paul Ryan.