Wally won’t have a problem.
Shrinkage losses are tax deductible.
That needs to end.
Why shouldn’t those losses be tax deductible? It’s an income tax, not a gross revenue tax, and money lost to theft is not income.
Plus I am not sure why it isn’t a problem for Walmart if it is tax deductible. They lose over $2 billion per year to shrink. Deducting $2 billion from taxable corporate income saves them $420 million in taxes. That’s still a $1.58 billion net loss.