A recent report released by Americans for Tax Fairness exposed Walmart for their evasive tax practices and revealed that the retail giant is holding over 78 billion dollars in offshore subsidiaries. Our members were quick to speak out against these practices and took to the media to make their voices heard.
Matt Birong, owner of 3 Squares Café (a cute and comfortable spot in Vergennes, VT) and member of the Main Street Alliance of Vermont, compared the high road business practices of his company to the extractive economic policies of Walmart and other multinational corporations in his article, featured in The Hill.
“Small businesses like mine are being squeezed by tax policies written for the upper echelon. Even though our revenue sheets look much different than those of the retail giant, we are forced to supplement the income of their employees and absorb a larger share of the tax responsibility,” said Birong.
Kelly Conklin, a member of the Main Street Alliance national executive committee, owner of Foley-Waite cabinets in New Jersey, also weighed in on the issue and spoke about growing his business while supporting his community in his article, featured in the Augusta Free Press.
“Small businesses can’t afford an army of accountants and tax lawyers like Walmart can to create offshore tax-avoidance strategies,” said Conklin. “None of us have shell corporations in Luxembourg. Even if we could pull off such financial shenanigans, I honestly believe most of us wouldn’t want to.”
“We’d rather contribute what we should to the public good and see our communities thrive right alongside our businesses,” said Conklin.
Small business owners already face stiff competition from large corporations, like Walmart, that can execute bulk purchases and drive down prices. The latest tax evasion revelation demonstrates just how far the scales are tipped in favor of big businesses.
Congress can act to rein-in these practices – and our leaders will continue to work to make sure their voices are heard on this issue.