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Walmart’s Corporate Socialism

Sam “Walmart” Walton practiced corporate socialism. As much as he could, he put the public’s money to work for his benefit. Free land, long-term leases at below-market rates, pocketing sales taxes, even getting workers trained at government expense were among the ways Wal-Mart took every dollar of welfare it could get … Walton had a particular fondness for government-sponsored industrial revenue bonds, … which cost him less in interest charges than the corporate bonds the market economy uses to raise money.”

Tags: business, corporate welfare, economics, laissez-faire, Sam Walton, Walmart by mike
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