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Thursday, July 19, 2012
Walmart Heirs Have More Wealth Than 41 Percent Of American Families
The heirs of the Wal Mart fortune – the Walton family – have gotten a lot wealthier since the Bush recession began in 2007, while the rest of us have gotten a lot poorer. According to data from the Federal Reserve, median family wealth in America dropped by nearly 40% between 2007 and 2010. But, during that same, the wealth of the Walton family increased 22% to nearly $90 billion. So now, the six Walton heirs have more wealth than 48 million American families – or more than 41% of all American families – COMBINED. And yet, despite the incredible wealth disparity – Republicans in Congress are pushing for even more tax breaks for the Wal Mart heirs – and other millionaires and billionaires who fund Republican candidates. This is a make-or-break moment for the American middle class, as Democrats try to extend tax cuts for working Americans, while cutting them off for the Walton heirs. We'll see if Republicans go along with this common sense solution, or if they hold the middle class hostage so that their billionaire buddies can hoard even more wealth. Stay tuned.
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17 comments:
With all that wealth they could certainly give their employees better health insurance than they have now! and no, I am not a Wal*Mart employee.
This article with no stats to back it up... is nothing but a hit piece
More class warfare.. that is what this country needs!!!
Bogus
it would be interesting to see their tax returns - vs the tax returns of most Wal Mart employees
I mean - who is REALLY paying the bulk of taxes in our country?
So?!? Why are we so preoccupied with others peoples wealth?? The American way and the American dream is to be successful and create wealth. Why now is it a crime?
Bush inherited a recession and turned it around it was Pelosi, Reed, Frank and Dodd who gave Obama a recession which is now a depression through mismanagement.
so what !!
good for them. it took hard work and inginuity to build this company and thousand and thousands of other companies around the world.
why all the whining from the mealy mouthed, jealous left. if you're not happy with your lot in life, work to change it. stop complaining and making class warfare comments to those who succeed in their goals and continue to forge ahead.
don't tell me you didn't have the opportunity to do so. liar, liar pants on fire. also don't blame others for your poor decisions regarding your life. own up to your choices and make new ones.
i'm sick of the class warfare and the whiners. get a life !!!!
by the way; no one forces anyone to work at walmart or anywhere else. these are choices people make on their own. no one owes you or anyone else a living. if people want a better career or a better job then get a good education. study hard and apply yourself. now don't tell me this can't be done because it's out there for everyone. again; choices.
Spoken/written like a true obama democrat..
Great post 4:34
That's all well and good 4:34 but the govenment subsidies (ie tax payers money) Walmart has received is so far in the billions.
Not only the subsidies they have received as a corporation but also the overwhelming majority of their employees are receiving some form of welfare entitlement.
BTW-I am a fiscal conservative.
Walmart receives subsidies by state and local government's to bring their business to build both retail stores and the network of a hundred plus distribution centers. They know that this will create jobs and tax revenue that will pay them back many times over.
4:34,
Becuase the HEIRs are the ones who built this massive company. RIIIIGHT.
I am by no means a liberal democrat. If anyone is familiar with the conservative think tank The Heritage Foundation they stand firmly against "corporate welfare" and the type of subsidies Walmart and other large corporations with millions in profits have and continue to receive.
This is actually one of the few issues that the far left and the far right agree on.
They have also stated that the 100 billion + dollars the fed govt spends on corporate welfare a year is a major contributor to the budget crisis.
7:11, what is wrong with heirs? jealous...meow...your green is showing. shame on you.
And, they used YOUR middle class tax money to start their company.
so what. and they used my "middle class" money to abort babies, spread liberal propaganda, pay all the perks to illegal aliens, give to gay causes, save the spotted owl and other nonsense. this goes on forever.
though i may not agree with subsidies that are given to walmart and other group too numerous to mention; at least they employ hundreds of thousands of people. i guess it's no different than a city, county or state giving tax breaks to businesses that locate or start up in their area. the businesses then employ citizens and helps build the economy. this is being a wise leader in this case. business friendly. a win, win for all. something our state and most of our local leaders don't get. hence we don't get the business locating in our local as they should under the right leadership.
You people act like their money is stuffed under a matress somewhere hiding.
They own a large chunk of stock in WalMart. Their money is being used to build more WalMarts which are creating jobs and making others plenty of money via, land sales, construction,suppy, etc. The money is reinvested in this country and is providing opportunities for others. The thought that the wealthy people take their money off the table and stuff it in a piggy bank is ridiculous. Somebody makes that expensive car, boat, or house the rich people own. Like it or not, it does trickle down.
To set the record staight-Democrats have voted for corporate welfare most often than Republicans.
One recent vote was to limit US taxpayer money given to corps (yes walmart) to help them with overseas advertising among other things they could well pay for themselves.
Sen Coburn (R-OK) introduced an amendment that would reduce the $200 million Market Access Program by 20 percent. This program pays for overseas advertising-textbook corp welfare.
The amendment failed. The breakdown was: Dems voted 51-2 against the cuts, Reps voted 28 to 18 to cut the program.
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