Wal-Mart gives out $2 billion in bonuses to hourly workers

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Apparently they have 1.4 million employees in the US, so the cash portion is $666/employee on average.

barfo
 
28% tax of $988M in bonus cash is $275M.

Wal-Mart's bailing out the gov't!
 
Doesn't sound like we'll have to bail out WalMart - the economy is creating vast numbers of new WalMart shoppers.

barfo
 
BrianFromWA said:
28% tax of $988M in bonus cash is $275M.

Wal-Mart's bailing out the gov't!
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I'm going to guess that the typical walmart worker pays less than 28% tax, though.

barfo
 
barfo said:
I'm going to guess that the typical walmart worker pays less than 28% tax, though.

barfo
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Not for long.

Obama's promised to cut the deficit in half in 4 years.
 
This is a very nice thing of them to do - even though they have some real shady things with their employees in the past and I still refuse to shop there unless they are the last possible place I can go.
 
Right, but don't bonuses get taxed off the top? So the gov't gets the cash now, and pays it back at Rebate time?

I guess what I meant to say was "Short-term infusion of cash".
 
BrianFromWA said:
Right, but don't bonuses get taxed off the top? So the gov't gets the cash now, and pays it back at Rebate time?

I guess what I meant to say was "Short-term infusion of cash".
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I believe withholding on bonuses is the same as withholding on regular salary. So if the employee has cranked his exemption level up, less will be withheld.

barfo
 
barfo said:
I'm going to guess that the typical walmart worker pays less than 28% tax, though.

barfo
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Payroll tax is 15.3% so personal income tax of 13% is possible.
 
Draco's Evil Sidekick said:
Walmart's had also been lobbying for years to get an increase in the minimum wage.

Seems odd coming from a company that mostly employs minimum wage labor.
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To be fair, it's because raising the minimum wage crushes the small business owner that WalMart looks to drive out of business whenever they build a new store in a rural area. That being said, WalMart saves consumers in this country billions of dollars, so I don't think they're the Evil Empire others do.
 
maxiep said:
To be fair, it's because raising the minimum wage crushes the small business owner that WalMart looks to drive out of business whenever they build a new store in a rural area. That being said, WalMart saves consumers in this country billions of dollars, so I don't think they're the Evil Empire others do.
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Hmm that could be their motivation. I figured they projected the extra sales revenue from all minimum wage workers would exceed the additional cost of labor.
 
AgentDrazenPetrovic said:
When you give money without restrictions...they are essentially that. Without restrictions.
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Apparently not . . . and when AIG decides to fuck around with our money, gov't isn't going to take that.

Walmart can do whatever the hell they want because it isn't gov't money they are wasting.
 
somehow, i don't trust wal-mart on this. they have a long history with gross labor violations and practices. there's more to this story.
 
maxiep said:
To be fair, it's because raising the minimum wage crushes the small business owner that WalMart looks to drive out of business whenever they build a new store in a rural area. That being said, WalMart saves consumers in this country billions of dollars, so I don't think they're the Evil Empire others do.
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And provide a lot of jobs.
 
it's_GO_time said:
Bingo . . . that is the big difference between walmart giving bonuses and AIG giving bonues.
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Well, that and Wal-Mart didn't receive any taxpayer funds and still managed to make a profit that they gave to their employees.

Good for Wal-Mart!
 
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