Wal-Mart Sucked $20 Billion Out of Local Economies This Holiday Season, Sa

[lovuian]

http://feeds.bignewsnetwork.com/redir.php?jid=99af59e9e483585c&cat=3a8a80d6f705f8cc

WASHINGTON - January 5 - An analysis released today by the Institute for America's Future finds that retail behemoth Wal-Mart Inc. sucked more than $20 billion out of local economies across America this holiday season.

Despite slower-than-projected revenue growth for November and December, Wal-Mart still brought in a record $66 billion for the holiday season - more than five times the revenue of its next- largest competitor. Looking more closely, Wal-Mart's siphoning means a loss of billions in wages and benefits paid, lost purchases of inventory, supplies and services from other local businesses, lost tax revenue to local government and lost contributions to local charities.

"America, as we know it, can't afford Wal-Mart," said Robert Borosage, president of the Institute for America's Future. "People across America are starting to realize the stark reality: Wal-Mart's triumph is the defeat of middle-class America. If Wal- Mart sets the pace, Americans will pay the price, in declining wages, rising health care costs, longer hours, worsening workplace conditions and rising personal taxes to offset soaring corporate subsidies.

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It definitely is ruining rural America ...

[Faux pas]

1. Yet someone is still shopping there. Guess it must be a

republican/fundamentalist thing? I wonder if they'll be running to the detention camps as fast as they run to wal-mart? Blind sheep.

[Citrene]

2. No, just rural "america", shopping for bargains while their throats are

slit.

Peace and I'm so sorry.

citrene