The six children of Walmart's founders, Sam and James "Bud" Walton, had the same net worth in 2007 as the entire bottom 30 percent of American earners, according to an analysis from Sylvia Allegretto, a labor economist at University of California-Berkeley's Center on Wage and Employment Dynamics.
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Friday, December 09, 2011
Walmart Heirs Worth Same Amount As Bottom 30 Percent Of Americans In 2007: Analysis
The Occupy Wall Street movement has brought increased focus on the disparity between the top one percent of earners and everyone else in the United States. But one American family paints a particularly stark picture of the country's wealth gap.
The six children of Walmart's founders, Sam and James "Bud" Walton, had the same net worth in 2007 as the entire bottom 30 percent of American earners, according to an analysis from Sylvia Allegretto, a labor economist at University of California-Berkeley's Center on Wage and Employment Dynamics.
The six children of Walmart's founders, Sam and James "Bud" Walton, had the same net worth in 2007 as the entire bottom 30 percent of American earners, according to an analysis from Sylvia Allegretto, a labor economist at University of California-Berkeley's Center on Wage and Employment Dynamics.
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I just heard recently that Walmart has stopped contributing toward health benefits for some lower level employees. Maybe someone can tell me if this is true.
Wise up people! Go into Walmart and look around. Are you aware of how many of those employees qualify for welfare benefits? Just about all of them and alot are on some sort of government assistance, all coming out of your pockets.
It is coming out of our pockets because they dont pay a living wage.
No one is forcing any of you to shop at Wal*Mart. If you don't like the policies and pay practices, SHOP SOMEWHERE ELSE!
Have you idiots learned that when you unionize and rob the company the company goes out of business. If you don't like your wage get an education.
Yep, it's real simple. A large number of people employed by Walmart receive some sort of government assistance and some multiple services such as food stamps, Medicaid, housing vouchers, free lunch program, etc. All this is coming out of tax dollars. All those toys and food for food baskets people donate to are going to people like Walmart employees.
@4:26, possibly the dumbest comment I have ever read. The reasaon they are on welfare is becasue Wal Mart's owners pay minimum amount of money and helth benefits. As soon as Wal Mart puts every other retail store out of business in this country we may be screwed even worse.
I don't shop at Walmart and I don't work there. And I have an education-graduated from Mount Vernon College for Women in the 1980's.
This is all simple econmics-the country can not prosper with employers like Walmart.
An example-I know of an old man who came to this country from Eastern Europe in the early
1900's. He bought up commercial properties all over a nearby large city and rented those out to businesses. He kept his rents low as so his tenants could make a decent living,some paying the same rent for 20 yrs. He always said (and this was back in the 70's) "I could have a million dollar house but only have a $100,000 one because I want to help the country prosper. Everybody not just me needs money to spend to keep the economy going"-he said when his family complained to him they could be richer!
3 generations later this man's family is still reaping the benefits.
There are businesses today-small businesses with 20 or so employees who elect to contribute to health benefits,etc for employees. These business owners could forego all of this and themselves keep the extra $100,000+ it costs for themselves.
Everyone has been brainwashed to think this is communist thinking when in reality it is simple economics.
When 50% of an area's population is making below poverty level wages the area is not going to prosper (except for the Walmarts) no matter what spin they put on it. The reasons for the country's financial woes are complex and due to many factors, including this problem.
By the way I'm a registered republican.
8:51, Walmart isn't going anywhere-union or no union and if they did that would mean more business for other retailers. The economy wouldn't suffer more than 10 minutes if Walmart announced they were closing today.
1:22 PM
Wow, an intelligent comment. Where did you come from?
Have you idiots learned that when you unionize and rob the company the company goes out of business. If you don't like your wage get an education.
December 10, 2011 8:51 AM
Well since there are numerous UNION companies, your statement is false.
And if you think an education is a guarantee for a higher wage, go ask those with PhD's and Master's what they think.
It still helps to be educated but people can and are successful without one. Just ask the owner of this blog.
No offense Joe. Just an example.
In 2009, 41 percent of Walmart's Massachussetts employees received publicly subsidized healthcare, at a cost of $16.6 million. That same year, Walmart had more employees and dependents on Ohio's Medicaid plan than any other company in the state at a cost to taxpayers of nearly $45 million.
In fact in the 24 states that track this data, Walmart tops the list of companies with the most employees receiving Medicaid.
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