Well, it's not like I'm some scholarly sage on the topic. But their meteoric growth (post Sam Walton, maybe before too, IDK) was heavily assisted by being given extremely generous tax breaks and, in a lot of cases, even being given money to fund the construction of their stores. In some cases, this funding happened while the local schools languished in disrepair. These concessions were typically given because Walmart's representatives convinced the local governments that their presence would stimulate economic growth. Also, they were given reprieve from paying local taxes for the first several years after new stores opened. Of course, Walmart has a habit of relocating to just outside the local jurisdiction right before it's time for them to start paying taxes.
Pretty much, they made a habit of duping local governments into assisting in their growth. They then had the opposite effect on the local economy. Driving locally owned businesses out of business by lowering their prices beyond what they local owners could compete with, then when there was no other choice than walmart, they hiked them up to more than the local businesses were originally charging. As I mentioned before, they came into areas where schools and other areas of the community were lacking funding, and convinced local government to fund the opening of their store. In many cases this was millions of dollars that mysteriously wasn't there for schools who didn't need half as much to fix their problems, but was readily forthcoming when Walmart came calling. Not to mention that, had the local government really wanted to stimulate economic growth, their money would have been much better spent funding locally owned businesses. Of course, everyone has heard of their shitty employment practices.
My point being this: If they had to grow their business with all the same tax obligations, and without extraordinary government funding, they would not be the dominating force they are today. That is not Free Market Capitalism. That is Corporate Socialism. Because they lied to get it, they received money and tax breaks that allowed them an advantage that their competitors didn't have. And, when I say competitors, I'm not talking about Kmart and Target. I mean the locally owned businesses they drove into the ground in pretty much every small town they came to.
I still shop there. When I have to.
