economy
March 4, 2026
Workers at top 20 US low-wage firms rely on public assistance, report says
Exclusive: study finds workers at 20 S&P 500 firms rely on Medicaid and Snap as CEO pay and buybacks soar
TL;DR
- Workers at 20 S&P 500 companies with low median wages rely on public assistance like Medicaid and SNAP.
- The median pay at a majority of these companies is lower than the income minimum for Medicaid eligibility for a family of three.
- A significant percentage of Walmart and Amazon employees in specific states were enrolled in Medicaid or SNAP.
- These corporations spent billions on stock buybacks in 2024, with Lowe's and Home Depot leading the list.
- Had stock buyback money been used for wages, millions of workers could have seen their pay significantly increased.
- Average CEO pay among these companies is nearly $19 million, with a CEO to median worker pay ratio of $899 to $1.
- The report criticizes this as 'corporate welfare' and calls for corporations to pay living wages, especially as government anti-poverty spending is cut.
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