Walmart’s Appeasement of Left Continues to Flounder

Mike Duke photoNo matter how much Walmart officials pander to liberals and their institutions, or how much they implement alternative energy gimmicks, or how much they earn fawning media attention for “corporate responsibility” and “sustainability” gestures, a giant segment of the political Left will still resent the retail giant.

Still, the descendants of Sam Walton and company executives try. Last week CEO of Walmart International, Doug McMillon, made the now-familiar pitch at the liberal Brookings Institution in Washington. Not surprisingly, rather than emphasize Walmart’s historical approach to business (before 2005) – which espoused low costs due to bulk purchasing and supply chain hyper-efficiency – and how that has improved the lives of millions of people with limited incomes, McMillon instead highlighted the company’s “social impact.” His drivel was likely welcomed by the elitist Beltway audience.

Sadly, as Walmart expands globally, the Third World that hungers for freedom and economic development desperately …

Congress Passes, Obama Signs First-Time Homebuyer Tax Credit Extension/Expansion

IRS cashHomeownership as a moral right has been the great unspoken reason for the nation’s financial collapse of the past year and a half. And unfortunately Congress and successive administrations appear all too willing to recreate the very conditions that led to the disaster. President Obama today signed a $24 billion economic stimulus bill one of whose main features is an extension and expansion of a “temporary” first-time homebuyer tax credit worth up to $8,000 per household. The House and Senate each passed the measure earlier this week by the respective margins of 403-12 and 98-0. In so doing, lawmakers laid the groundwork for even more inefficiency and corruption. 

The first-time homebuyer tax credit program amounts to a housing industry equivalent of the auto industry’s “Cash for Clunkers” program. Created last summer at the urging of the Bush administration, the program was expanded this February as part of the Obama …

First-Time Homebuyer Tax Credit Program Rife with Fraud; IRS Employees in on Scam

IRS refundDespite its brief existence, the federal government’s $8,000 tax credit for first-time homebuyers already has proven to be a costly boondoggle. And in what appears to be an act of unintended comedy, Congress is primed to extend and expand this “temporary” program beyond its November 30 deadline. On Thursday, October 22, J. Russell George, inspector general for the Internal Revenue Service, testified before a House Ways and Means subcommittee that the tax credit has been rife with inefficiency and fraud. Among those scamming the program, he believes, are more than 50 IRS employees. This interim report, George emphasized, if anything, understates the problem. 

Such an outcome shouldn’t come as a stunner. With homeownership now almost a matter of moral right and mortgage lending becoming more than ever nationalized, the tax credit is ripe for the picking. Congress passed and President Bush signed the program into law in July