According to the Food Marketing Institute, food stamps accounted for approximately 5.8 percent of an estimated $669 billion in annual grocery store sales.
For some retailers, though, it accounts for much more. Walmart, for example, is the largest supermarket in the country.
Retail analyst Craig Johnson of Customer Growth Partners estimates Walmart generates $16 billion in food-stamp sales a year, about twenty-three percent of federal food-stamp spending.
After the government restricted food-stamp benefits in 2013, Walmart reported a 0.9 percent decline in its quarterly grocery sales.
Craig Johnson said:
"They may be calling it out as an excuse for under performance. But it will be a small marginal impact."
Let's not be fooled: this is nothing more than another bald-faced attack on the poor and "takers;" i.e., the most vulnerable among us who require the most help.
If only they were ultra rich or transnational corporations, they would be receiving permanent tax breaks instead of cuts to government assistance keeping them alive.
It's all about priorities.
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