Walmart secretly hides $76 billion in overseas tax havens after pillaging American businesses

Sheeple No More

Just because Walmart figured out a way to sell consumer products for cheaper than your local mom and pop shop, effectively putting it out of business, doesn’t mean that this multinational corporation is evil — or so goes the claim by many a radical capitalist in defense of one of the world’s most hated businesses. Too bad this isn’t actually the case, though, as it has now come to light that part of Walmart’s takeover strategy involves hiding its billions of dollars in profits in offshore tax havens to avoid paying the exorbitant taxes otherwise incurred by small businesses.

More than $76 billion worth of Walmart’s assets, according to a new report, are held overseas in trusts and other crafty financial instruments, shielding the company from its U.S. tax burden. A shocking 90% of Walmart’s overseas assets are currently being held in either Luxembourg or the Netherlands, the former of…

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