Recently, slow magnetosonic waves were identified in polar plumes, at heights up to about 1.2 R☉ using the Extreme Ultraviolet Imaging Telescope (EIT) observations of quasi-periodic EUV intensity fluctuations, and higher in the corona using the Ultraviolet Coronagraph Spectrometer (UVCS) white-light channel. First, we derive the linear dispersion relation for the slow waves in the viscous plasma. Next, we derive and solve an evolutionary equation of the Burgers type for the slow waves, incorporating the effects of radial stratification, quadratic nonlinearity, and viscosity. Finally, we model the propagation and dissipation of slow magnetosonic waves in polar plumes using one-dimensional and two-dimensional MHD codes in spherical geometry. The waves are launched at the base of the corona with a monochromatic source. We find that the slow waves nonlinearly steepen as they propagate away from the Sun into the solar wind. The nonlinear steepening of the waves leads to enhanced dissipation owing to compressive viscosity at the wave fronts. The efficient dissipation of the slow wave by compressive viscosity leads to damping of the waves within the first solar radii above the surface. We investigate the parametric dependence of the wave properties.