Waltons (Walmart) Could Buy A Third Of U.S. Population

[thoughtone]

What's even more insane is that they are constantly lobbying for more and more tax cuts. Still think you are going to be rich?

source: Salon

The insane wealth of Walmart’s founding family

Just six members of Walmart's Walton clan are worth as much as the bottom 30 percent of all Americans

Jim, Alice and Rob Walton​

There’s been a constant stream of headlines about the widening gap between rich and poor for months now, but this is pretty remarkable: Just six members of the Walton family, heirs to the Walmart fortune, possess wealth equal to that of the entire bottom 30 percent of Americans.

That’s according to a new analysis by Sylvia Allegretto, a labor economist at the University of California at Berkeley’s Center on Wage and Employment Dynamics.

The calculation is based on data from 2007, the most recent round of the Federal Reserve Board’s Survey of Consumer Finances, which measures the net worth of Americans. (The extensive survey is performed once every three years, and the 2010 edition is expected to be released next year.)

Allegretto then compared those numbers to the net worth of the six members of the Walton clan as reported on the Forbes 400 list in 2007. They are all children or children-in-law of the founders of Walmart. Their total net worth that year: $69.7 billion.

That’s equal to the wealth of the poorest 30 percent of all Americans, according to Allegretto’s calculations.

One of those Waltons, by the way, is Alice, whose effort to create a world-class museum in Arkansas by purchasing hundreds of millions of dollars of art was recently profiled in the New Yorker. More information on the other Waltons is available at Forbes.

 

[SPECTRE1]

They need to monopoly bust up Wal-Mart/Sams Club, it would disastrous if Walmart failed with millions of people being employed and the suppliers connected to them would go down.

 

[QueEx]

They need to monopoly bust up Wal-Mart/Sams Club, it would disastrous if Walmart failed with millions of people being employed and the suppliers connected to them would go down.

What do you think should be the limit of how much one may be allowed to earn;

Who should determine that limit; and

How would they determine it ???

Curious.

 

[thoughtone]

What do you think should be the limit of how much one may be allowed to earn;

Who should determine that limit; and

How would they determine it ???

Curious.

Still on the books. Hasn't been enforced since President Carter broke up Ma Bell. Too big to fail is too big!


Sherman Antitrust Act

The Sherman Antitrust Act (Sherman Act,<SUP id=cite_ref-0 class=reference>[1]</SUP> July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. §§ 1–7) requires the United States federal government to investigate and pursue trusts, companies, and organizations suspected of violating the Act. It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. However, for the most part, politicians were unwilling to refer to the law until Theodore Roosevelt's presidency (1901–1909).

 

[QueEx]

Still on the books. Hasn't been enforced since President Carter broke up Ma Bell. Too big to fail is too big!


Sherman Antitrust Act

The Sherman Antitrust Act (Sherman Act,<SUP id=cite_ref-0 class=reference>[1]</SUP> July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. §§ 1–7) requires the United States federal government to investigate and pursue trusts, companies, and organizations suspected of violating the Act. It was the first Federal statute to limit cartels and monopolies, and today still forms the basis for most antitrust litigation by the United States federal government. However, for the most part, politicians were unwilling to refer to the law until Theodore Roosevelt's presidency (1901–1909).

But, whats the alleged anti-trust violation ? ? ?

 

[thoughtone]

But, whats the alleged anti-trust violation ? ? ?

Read the entire explanation of the act. It also involves lack of competition. When Walmart opens up in small towns, stores close.

 

[SPECTRE1]

Every time I go into that store, it feels like I am in North Korea with minders following you around. They are a country onto themselves, Wal mart even hires former CIA officers to collect intelligence. This comment is probably being red-flagged and put in a database by them, monitoring the internet for threats...

Right now the taxpayers are on the hook if Wal Mart fails through poor management, fraud, or other means. You see some of the stupidity exhibited by management on hiring/firing women, overtime, it wouldn't surprise me if something happens.

I like to see people owning businesses instead of being a slave/employee. Plus they are making a push into the hood, decreasing opportunities for minorities to own businesses.


There is definitely wage related anti-trust violations, because of their sheer size, they can shut down a store or department that is trying to form a Union which has been done before.

 

[QueEx]

Right now the taxpayers are on the hook if Wal Mart fails through poor management, fraud, or other means.

How exactly, would taxpayers me on the hook ??? Seriously, I've tried looking at this from your perspective, but I really don't see how taxpayer dollars are at stake. I'm sure I must be overlooking the obvious.

 

[muckraker10021]

How exactly, would taxpayers me on the hook ??? Seriously, I've tried looking at this from your perspective, but I really don't see how taxpayer dollars are at stake. I'm sure I must be overlooking the obvious.

This will be quick because I'm going out clubbing right now. Wal-Mart is one of the worlds most predatory sociopathic corporations. The Walton family are fucking sociopaths. When you get hired there, in your new employee package is an application to apply for Food Stamps & Medicaid, because they pay such a little wage. They know that the $10 bucks or less per an hour that they start you at, is so low that it will allow you to be eligible to collect food stamps & medicaid. So immediately every new Wal-Mart employee cost taxpayers money!! Some time in the next few days I'll go-in-deep on Wal-Mart's destruction of thousands of small businesses in the US.

But for now let's deal with something called DEAD PEASANT INSURANCE --You don't know what that is??
Watch the two videos below.

Wal-Mart and other predatory capitalist companies take out an life insurance policy on your life (their employee)without your knowledge. For example, Susan works in the bakery department of Wal-Mart, unknown to her Wal-Mart has taken out a life insurance policy on her life in the amount of $100,000. By the way they know she is sick and the odds are she might die. Anyhow Susan gets sick and dies. Wal-Mart collects the $100,000 death benefit, which of course is tax free. Susan's family gets nothing. Wal-Mart has thousands of these DEAD PEASANTS insurance policies on their poverty wage employees. Other major corporations also engage in this practice. If you didn't see the Michael Moore movie Capitalism A Love Story then you must see it. If you want me to post links let me know





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"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both."
- Justice Louis D. Brandeis-

 

[doggish_098]

if Sam was still alive he would by far be the richest man in the world.

 

[actinanass]

*sigh* they call threads like this....HATING.

Typical left wing bs

 

[thoughtone]

if Sam was still alive he would by far be the richest man in the world.

If grandma had balls she would be grandpa. So what's your point?

 

[thoughtone]

*sigh* they call threads like this....HATING.

Typical left wing bs

"they call threads like this....HATING."

 

[Cruise]

Isn't that what it's all about.

The whites, using monopoly power, to concentrate the wealth in their greedy little hands.

No way a Wal-Mart exists without the banking system using the power of the government to rip off the little guy to finance their operations.

No corporations can survive against independents without the power of the government and the legal structure to create monopoly environments wherever they go.

I have seen better quality and lower prices from independents. But, when they cannot get the lower prices on the bulk items, complementary items, impulse items, how can you compete?

A guy may have the best price on coats, but not on gloves, shoes, or electronics. Why make 1 trip to the coat guy when you can go to Wal-Mart and get a crappy coat and everything else?

The rich are a burden on society because their goal is to get someone else to do the work.

 

[thoughtone]

*****