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The Wealthy hoard money, while holding the middle class hostage


The Wealthy hoard money, while holding the middle class hostage

Tom Hartmann

Published: 19 July, 2012, 19:26

­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.

Entry #250


Comment by bobbya - August 1, 2012, 1:05 am
The rich don't create jobs without demand.
The economy has NOT turned around satisfactory just for that reason alone.
They have outsourced that demand with the millions of jobs and paychecks.
The rich,like the Waltons,just take that extra money and sit on it,don't spend it on job creation simply because there is no need to hire if the demand IS NOT there.
JAP69Comment by JAP69 - August 1, 2012, 9:01 am
Comment by bobbya - Today, 1:05 am
Very true.
Comment by scorpio - August 1, 2012, 10:15 am
more and more of the off shore ponzi schemes are being investigated.soon there will not be these companies that make zillions of untaxed money for millionaires.wonder if romneys'tax returns will show this.
TenajComment by Tenaj - August 1, 2012, 10:34 am
McCain said some stuff was getting ready to go down.
sully16Comment by sully16 - August 1, 2012, 10:58 am
First of all, the Waltons are not Republicans, they donate to both parties ( just to be safe), They expoit women and minorities, anyone who shops there needs their head examined. They created the part time employee, they set the mold that other companies followed suit.
They too, have jumped on the human garbage bandwagon, when their employees screamed we want more hours,better benefits, better chance of being promoted within based on work ethic, and when minorties screamed not fair, you should promote minorities because they are minorities, the waltons got fed up.
Plan B, they started promoting women and minorties to shut up the masses, didn't matter if they were qualified or not, damage control.
Being a minority myself, not once did I scream , NOT FAIR, I AM NOT GOING TO USE MY RACE TO GET SOMETHING FOR FREE, SOMETHING I DIDN'T PERSONALLY EARN. That being said, walmart went into plan c, get your part time employees put on welfare, they will actually bend over backwards to get you the best welfare benefits possible, The peasants rejoiced, and guess where they spend most of their welfare dollars, yep WALMART, SO ESSENTIALLY, THE TAX PAYER IS CREATING THE WEALTH FOR WALMART.
Now, we have people refusing to work full time because it cuts into their welfare money.
Bottom line walmart sucks.
TenajComment by Tenaj - August 1, 2012, 11:52 am
What you just said Sully is so idiotic that it made everyone stupid who heard it. May God have mercy on your soul. You're talking about poor people and handouts and getting something for free, race and minorities when we are talking about the wealthy hoarding money and squeezing out the middle class. All you talk about in every blog subject are poor people on food stamps, welfare and people wanting something for free, even about college kids wanting fair and affordable loans. I believe you call them "peasants" which hasn't been used since the Middle Ages/Dark Ages. The Walton's wealth is way, way deeper than "peasants" even though what you said about their practices are true, but please try to focus on the subject without always throwing your "peasants" in there. Welfare is only a drop in the ocean to what's wrong with this country. Think deeper.
sully16Comment by sully16 - August 1, 2012, 1:20 pm
I they don't pay their employees enough, people shouldn't work there, don't shop there, simple.
The fact is, they put their employees on welfare and that is a problem, because we have it where I work, and these low lifes, DON'T WANT TO WORK, They don't want full times jobs, welfare is what they want. FREEEE
sully16Comment by sully16 - August 1, 2012, 1:57 pm
Just got called onto work, yep, welfare person called in again, this makes me the angriest, we are always getting called in or are always shorthanded, when they get written up for repeated violations, the scream racism, sick of it, we need them to show up for work. Getting real sick of covering for them, all the while supporting their lazy butts.

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