Bernie: "Today the Walton family of Walmart own more wealth than the bottom 40 percent of America."

[bendog]

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

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

That's interesting, not only in terms of what would Sanders want (I'm not really sure) and the economy overall.

It really doesn't matter to the economy who owns the stock in Wal-Mart. The company exists. As do corporations like Ford. Rob Walton is the only one who is really actively involved in day to day operations. Does Bernie just want all employers to pay a wage that basically allows a family to own a home and have reasonable healthcare and affordable education? I dunno. The Clinton group, like Joseph Stiglitz, certainly wants that. Would laws requiring this put Wal-Mart out of biz? I don't see how if all employers had to play be the same rules.

 

[Misty]

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

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

That's interesting, not only in terms of what would Sanders want (I'm not really sure) and the economy overall.

It really doesn't matter to the economy who owns the stock in Wal-Mart. The company exists. As do corporations like Ford. Rob Walton is the only one who is really actively involved in day to day operations. Does Bernie just want all employers to pay a wage that basically allows a family to own a home and have reasonable healthcare and affordable education? I dunno. The Clinton group, like Joseph Stiglitz, certainly wants that. Would laws requiring this put Wal-Mart out of biz? I don't see how if all employers had to play be the same rules.

The cost of living for different states is very different. Someone living in California would need to make 30 bucks an hour minimum to live like you describe. But in Tennessee making 30 bucks an hour you could probably live quite well.

 

[Arianrhod]

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

And they lost $14.5 billion in a single afternoon not long ago. Can you guess what that means? It means they'll be closing stores.

Now, in some markets they're the only store for miles, which means someone - probably Costco or WinCo - will move in to that market and employ those people who are laid off, at the same rate these companies currently pay their employees.

This means that you, the taxpayer will be taxed less for SNAP benefits. But you'll still be paying taxes for the corporations that pay none at all, because you're too ignorant to care.

 

[bendog]

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

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

That's interesting, not only in terms of what would Sanders want (I'm not really sure) and the economy overall.

It really doesn't matter to the economy who owns the stock in Wal-Mart. The company exists. As do corporations like Ford. Rob Walton is the only one who is really actively involved in day to day operations. Does Bernie just want all employers to pay a wage that basically allows a family to own a home and have reasonable healthcare and affordable education? I dunno. The Clinton group, like Joseph Stiglitz, certainly wants that. Would laws requiring this put Wal-Mart out of biz? I don't see how if all employers had to play be the same rules.

The cost of living for different states is very different. Someone living in California would need to make 30 bucks an hour minimum to live like you describe. But in Tennessee making 30 bucks an hour you could probably live quite well.

I believe that either Hillary or Sanders will be making an issue over their belief that anyone working 40 hours per week should not be paid so little as to still be on public assistance.

 

[Brain357]

So they didn't build that business AS YOU FALSELY ASSERTED

The Walton family most certainly did build the store and chains. The new owners were part of starting it up and running it; however, when Sam died and left them the store they ditched his 'only in the USA' pledge in exchange for cheap stuff made all over.

It's STILL THEIR store, it's STILL THEIR money, and it's STILL your personal choice to go or not to go there to shop. Again, rein in the jealousy. Stop saying 'other people have money, and I don't - it's not fair!' Don't like it, don't shop there. Don't like their employee policies / pay, don't work there.

You FALSELY asserted the heirs built the business. The did not. And, it's currently run by suits. Sams daughters married guys who own sports franchises. Not that there's anything wrong with that, but your statement was false and overall the heirs contribute little to society in comparison to the brothers.

I don't believe any Waltons hold a position with the company.

 

[easyt65]

I don't believe any Waltons hold a position with the company.

It REALLY doesn't matter... AGAIN, the company has every right to conduct it's business and make as much profit it wants to /can. It is not 'your' business, it is not 'your' policies, it is not 'your' money.

Demonizing them and whining about their profit is just jealousy, 'life isn't fair'....Waaaa!

DON'T SHOP THERE! DON'T WORK THERE! GET ON WITH YOUR LIFE.

 

[Arianrhod]

DON'T SHOP THERE! DON'T WORK THERE! GET ON WITH YOUR LIFE.

Unless of course they're the only store for miles...

 

[Dont Taz Me Bro]

I don't see how anyone can justify this.

Quite easily. They built an empire employing thousands and servicing millions.

 

[Dont Taz Me Bro]

DON'T SHOP THERE! DON'T WORK THERE! GET ON WITH YOUR LIFE.

Unless of course they're the only store for miles...

Open your own

 

[bedowin62]

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

And they lost $14.5 billion in a single afternoon not long ago. Can you guess what that means? It means they'll be closing stores.

Now, in some markets they're the only store for miles, which means someone - probably Costco or WinCo - will move in to that market and employ those people who are laid off, at the same rate these companies currently pay their employees.

This means that you, the taxpayer will be taxed less for SNAP benefits. But you'll still be paying taxes for the corporations that pay none at all, because you're too ignorant to care.

what corporations pay no taxes?

IF there are actually any that pay "none at all" like your igorant moronic self says, and you tax them, who do you thinnk will end up paying for that increase in overhead??
that company, or it's customers????

 

[easyt65]

Unless of course they're the only store for miles...

If you are THAT upset about Wal Mart's profits they will drive the extra distance....

 

[bendog]

DON'T SHOP THERE! DON'T WORK THERE! GET ON WITH YOUR LIFE.

Unless of course they're the only store for miles...

Everyone goes for the lowest prices (assuming quality and the overall experience) is roughly equal. But the Wal-Mart mom shoppers are often those paying no income tax, so the workers are being subsidized with public assistance that is paid for either with deficit dollars or taxes on other people. That is NOT how a market operates transparently to achieve maximum efficiency.

 

[Brain357]

I don't believe any Waltons hold a position with the company.

It REALLY doesn't matter... AGAIN, the company has every right to conduct it's business and make as much profit it wants to /can. It is not 'your' business, it is not 'your' policies, it is not 'your' money.

Demonizing them and whining about their profit is just jealousy, 'life isn't fair'....Waaaa!

DON'T SHOP THERE! DON'T WORK THERE! GET ON WITH YOUR LIFE.

My taxes pay their corporate welfare.

 

[easyt65]

My taxes pay their corporate welfare.

Your taxes also go towards Obamaphones...why aren't you raising hell about that? I get nothing for my money with this program, but at least I get a place to shop supporting Wal Mart...

 

[Weatherman2020]

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 left never ask how we get others to become rich, it is always about tearing down and destroying anyone they percieve as having something they don't have.

 

[Brain357]

My taxes pay their corporate welfare.

Your taxes also go towards Obamaphones...why aren't you raising hell about that? I get nothing for my money with this program, but at least I get a place to shop supporting Wal Mart...

I do not shop at Walmart. The Waltons make billions each year, my taxes should not subsidize their workers.

 

[Arianrhod]

Unless of course they're the only store for miles...

Open your own

Costco and/or WinCo will do just that, and Walmart will fail that much faster.

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

And they lost $14.5 billion in a single afternoon not long ago. Can you guess what that means? It means they'll be closing stores.

Now, in some markets they're the only store for miles, which means someone - probably Costco or WinCo - will move in to that market and employ those people who are laid off, at the same rate these companies currently pay their employees.

This means that you, the taxpayer will be taxed less for SNAP benefits. But you'll still be paying taxes for the corporations that pay none at all, because you're too ignorant to care.

what corporations pay no taxes?

I should really put this in my signature so I wouldn't have to post it every day:

Forget Inversions, These 20 Huge, Profitable Companies Already Pay Zero Tax

Unless of course they're the only store for miles...

If you are THAT upset about Wal Mart's profits they will drive the extra distance....

Seems I'll have to edumacate about food deserts as well...

 

[bedowin62]

Unless of course they're the only store for miles...

Open your own

Costco and/or WinCo will do just that, and Walmart will fail that much faster.

They employ 2.1 million people. Does Bernie want them all to be out of work the piece of shit live off government forever loser?

And they lost $14.5 billion in a single afternoon not long ago. Can you guess what that means? It means they'll be closing stores.

Now, in some markets they're the only store for miles, which means someone - probably Costco or WinCo - will move in to that market and employ those people who are laid off, at the same rate these companies currently pay their employees.

This means that you, the taxpayer will be taxed less for SNAP benefits. But you'll still be paying taxes for the corporations that pay none at all, because you're too ignorant to care.

what corporations pay no taxes?

I should really put this in my signature so I wouldn't have to post it every day:

Forget Inversions, These 20 Huge, Profitable Companies Already Pay Zero Tax

Unless of course they're the only store for miles...

If you are THAT upset about Wal Mart's profits they will drive the extra distance....

Seems I'll have to edumacate about food deserts as well...

YAWN

kindly use your own source to reveal which companies paid zero taxes for a year ok/

no the Seagate one doenst count either.

 

[bedowin62]

Company Symbol Net income Q2 2013 ($ mils)

1. Merck MRK $2,004
2. Seagate Tech. STX $320
3. Thermo Fisher TMO $278.5
4. General Motors GM $278
5. Public Storage PSA $276.8
6. Iron Mountain IRM $271.6
7. Newmont Mining NEM $180
8. Eaton ETN $171
9. Avalonbay AVB $158.1
10. Kimco Realty KIM $89.5
11. Prologis PLD $81.2
12. Boston Properties BXP $79.1
13. Apartment Investment AIV $77
14. Plum Creek Timber PCL $55
15. Citrix Systems CTXS $53
16. Crown Castle CTXS $53
17. Macerich MAC $16.1
18. News Corp. NWSA $13
19. Essex Prop. MRK $6.3
20. First Solar FSLR $4.5

1. 
   From your source:

1. 
   pretty sure the Q stands for quarter

 

[bedowin62]

Seagate’s fiscal year ended June 27, and the company had an income tax benefit of $14 million. That was double Seagate’s $7 million income tax benefit for fiscal 2013. During fiscal 2014, Seagate got a big tax benefit from “the reversal of a portion of the valuation allowances recorded in prior periods.”


IS THIS THE SMOKING GUN?????

OH WAIT, KEEP READING......................
But Seagate also points out it gets a boost from the fact its parent holding company is based in low-tax country Ireland.