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Wal-Mart Seeks To Save Social Net Programs

March 28, 2014

This is quite telling about the state of affairs for poor people, and the bottom line of Wal-Mart.

A couple of items stand as newcomers to Wal-Mart’s menu of risks. Here’s what the annual report released on Friday says:

“Our business operations are subject to numerous risks, factors and uncertainties, domestically and internationally, which are outside our control … These factors include … changes in the amount of payments made under the Supplement[al] Nutrition Assistance Plan and other public assistance plans, changes in the eligibility requirements of public assistance plans, …”

In other words, Wal-Mart, for the first time in its annual reports, acknowledges that taxpayer-funded social assistance programs are a significant factor in its revenue and profits. This makes sense, considering that Wal-Mart caters to low-income consumers. But what’s news here is that the company now considers the level of social entitlements given to low-income working and unemployed Americans important enough to underscore it in its cautionary statement.

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