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The Wealthy hoard money, while holding the middle class hostage
Published:
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.
Comments
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.
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Very true.
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.
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
I work with these people, THEY DON'T WANT TO EARN A LIVING, THEY WANT EVERYTHING HANDED TO THEM, THEY WANT PITY, THEY USE RACE AND GENDER EVERY CHANCE THEY GET.
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