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Vermont Sen. Bernie Sanders, an independent who caucuses with Democrats, tweeted a startling statistic to his followers on July 22, 2012: "Today the Walton family of Walmart own more wealth than the bottom 40 percent of America."
Sanders speaks and writes frequently about wealth distribution in the U.S., a hot-button issue among liberals and a rallying cry of the Occupy Wall Street Movement.
The Waltons, of course, are members of the proverbial 1 percent. But are they really sitting on that much wealth? We decided to check it out.
First, what is wealth?
In economics, wealth is commonly measured in terms of net worth, and it’s defined as the value of assets minus liabilities. For someone in the middle class, that could encompass the value of their 401(k) or other retirement accounts, bank savings and personal assets such as jewelry or cars, minus what they owe on a home mortgage, credit cards and a car note.
It does not include income -- what people earn in wages. For that reason, someone who earns a good salary but has little savings and owes a lot of money on their house would have a negative net worth.
In fact, because so many Americans invest in real estate to buy a home, middle-class wealth has been one of the biggest casualties of the housing-driven recession.
From 2007 to 2010, typical families lost 39 percent of their wealth, according to the Federal Reserve’s Survey of Consumer Finances, done every three years. In 2007, the median family net worth was $126,400. In 2010, it was $77,300, according to the survey.
Where the Waltons fit in
Six members of the Walton family appear on the Forbes 400 list of the wealthiest Americans. Christy Walton, widow of the late John Walton, leads the clan at No. 6 with a net worth of $25.3 billion as of March 2012. She is also the richest woman in the world for the seventh year in a row, according to Forbes. Here are the other five:
No. 9: Jim Walton, $23.7 billion
No. 10: Alice Walton, $23.3 billion
No. 11: S. Robson Walton, oldest son of Sam Walton, $23.1 billion
No. 103: Ann Walton Kroenke, $3.9 billion
No. 139: Nancy Walton Laurie, $3.4 billion
The walton family, who inherited, worked for it?So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
I don't see how anyone can justify this.
Bernie Sanders says Walmart heirs own more wealth than bottom 40 percent of Americans
Vermont Sen. Bernie Sanders, an independent who caucuses with Democrats, tweeted a startling statistic to his followers on July 22, 2012: "Today the Walton family of Walmart own more wealth than the bottom 40 percent of America."
Sanders speaks and writes frequently about wealth distribution in the U.S., a hot-button issue among liberals and a rallying cry of the Occupy Wall Street Movement.
The Waltons, of course, are members of the proverbial 1 percent. But are they really sitting on that much wealth? We decided to check it out.
First, what is wealth?
In economics, wealth is commonly measured in terms of net worth, and it’s defined as the value of assets minus liabilities. For someone in the middle class, that could encompass the value of their 401(k) or other retirement accounts, bank savings and personal assets such as jewelry or cars, minus what they owe on a home mortgage, credit cards and a car note.
It does not include income -- what people earn in wages. For that reason, someone who earns a good salary but has little savings and owes a lot of money on their house would have a negative net worth.
In fact, because so many Americans invest in real estate to buy a home, middle-class wealth has been one of the biggest casualties of the housing-driven recession.
From 2007 to 2010, typical families lost 39 percent of their wealth, according to the Federal Reserve’s Survey of Consumer Finances, done every three years. In 2007, the median family net worth was $126,400. In 2010, it was $77,300, according to the survey.
Where the Waltons fit in
Six members of the Walton family appear on the Forbes 400 list of the wealthiest Americans. Christy Walton, widow of the late John Walton, leads the clan at No. 6 with a net worth of $25.3 billion as of March 2012. She is also the richest woman in the world for the seventh year in a row, according to Forbes. Here are the other five:
No. 9: Jim Walton, $23.7 billion
No. 10: Alice Walton, $23.3 billion
No. 11: S. Robson Walton, oldest son of Sam Walton, $23.1 billion
No. 103: Ann Walton Kroenke, $3.9 billion
No. 139: Nancy Walton Laurie, $3.4 billion
The problem is, the walton family has inherited so much of the above, and given the ability walmart has to virtually control prices, and the reliance on cheap goods, I don't see that happening.I don't see how anyone can justify this.
Bernie Sanders says Walmart heirs own more wealth than bottom 40 percent of Americans
Vermont Sen. Bernie Sanders, an independent who caucuses with Democrats, tweeted a startling statistic to his followers on July 22, 2012: "Today the Walton family of Walmart own more wealth than the bottom 40 percent of America."
Sanders speaks and writes frequently about wealth distribution in the U.S., a hot-button issue among liberals and a rallying cry of the Occupy Wall Street Movement.
The Waltons, of course, are members of the proverbial 1 percent. But are they really sitting on that much wealth? We decided to check it out.
First, what is wealth?
In economics, wealth is commonly measured in terms of net worth, and it’s defined as the value of assets minus liabilities. For someone in the middle class, that could encompass the value of their 401(k) or other retirement accounts, bank savings and personal assets such as jewelry or cars, minus what they owe on a home mortgage, credit cards and a car note.
It does not include income -- what people earn in wages. For that reason, someone who earns a good salary but has little savings and owes a lot of money on their house would have a negative net worth.
In fact, because so many Americans invest in real estate to buy a home, middle-class wealth has been one of the biggest casualties of the housing-driven recession.
From 2007 to 2010, typical families lost 39 percent of their wealth, according to the Federal Reserve’s Survey of Consumer Finances, done every three years. In 2007, the median family net worth was $126,400. In 2010, it was $77,300, according to the survey.
Where the Waltons fit in
Six members of the Walton family appear on the Forbes 400 list of the wealthiest Americans. Christy Walton, widow of the late John Walton, leads the clan at No. 6 with a net worth of $25.3 billion as of March 2012. She is also the richest woman in the world for the seventh year in a row, according to Forbes. Here are the other five:
No. 9: Jim Walton, $23.7 billion
No. 10: Alice Walton, $23.3 billion
No. 11: S. Robson Walton, oldest son of Sam Walton, $23.1 billion
No. 103: Ann Walton Kroenke, $3.9 billion
No. 139: Nancy Walton Laurie, $3.4 billion
Easy. Stop shopping at wally world. We did that 20 years ago. Stop shopping there and their wealth drops.
So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
Seriously? When one family owns more wealth then the bottom 40% of america, there is a problem. This isn't envy.So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
View attachment 50627
Easy. Stop shopping at wally world. We did that 20 years ago. Stop shopping there and their wealth drops.I don't see how anyone can justify this.
Bernie Sanders says Walmart heirs own more wealth than bottom 40 percent of Americans
So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
Yes, inheriting is obviously building something.. I also take it you will ignore the fact that none of it would exist without underpaid employees.The Walton family built that, try it instead of demanding from people that don't owe you a damn thing
Seriously? When one family owns more wealth then the bottom 40% of america, there is a problem. This isn't envy.So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
View attachment 50627
The problem is, the walton family has inherited so much of the above, and given the ability walmart has to virtually control prices, and the reliance on cheap goods, I don't see that happening.Easy. Stop shopping at wally world. We did that 20 years ago. Stop shopping there and their wealth drops.
Sam Walton created a new business model which proved highly successful.Seriously? When one family owns more wealth then the bottom 40% of america, there is a problem. This isn't envy.
The walton family, who inherited, worked for it?So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
Oh please, walmart relies on low wage workers and third world shitholes to make a profit.
.
No one is saying they should've stopped, except for you... I'm just pointing out that one family owns more wealth then the bottom 40% of america.. This is the beginning of a plutocracy.Seriously? When one family owns more wealth then the bottom 40% of america, there is a problem. This isn't envy.So these folks build a business....
Hire people.....
People shop there and don't seem to have a problem with it.
No one is putting a gun to their heads....
Walmart is a huge success story.....
And Libs have a problem with it.
Why?
View attachment 50627
So Walmart should have stopped after 10 stores...20 stores....100 stores...
They should have stopped after making $100 million...$200 million...$500 million.....
Should a CEO only get paid what Libs feel is fair compensation....
Should an athlete make only $1 million a year?...$5 million...
Should an actor/actress only get $1 million per film because there are people in this country only making $ 25,000 a year.
