6 Waltons are wealthier than 30% of Americans

Link: http://news.yahoo.com/six-waltons-more-wealth-bottom-30-americans-182819449.html

Yep..."free" market capitalism at it's finest. America's middle class is gone, the euro is about to tank and China/Russia have the Western world by the balls but at least Sam Walton's great grandchildren are doing fine.

Also, this is a pretty good video to watch if you are interested in this topic: http://www.youtube.com/watch?v=gIcqb9hHQ3E&list=LLDNAGDk92Yws6AG4MfkiFFQ&index=2&feature=plpp_video

Link: http://news.yahoo.com/six-waltons-more-wealth-bottom-30-americans-182819449.html

Yep..."free" market capitalism at it's finest. America's middlecl isgone, the euro is about to tank and China/Russia have the Western world by the balls but at least Sam Walton's great grandchildren are doing fine.

Also, this is a pretty good video to watch if you are interested in this topic: http://www.youtube.com/watch?v=gIcqb9hHQ3E&list=LLDNAGDk92Yws6AG4MfkiFFQ&index=2&feature=plpp_video

chandlerr_360

Don't care in the slightest.

You're right, that is because of capitalism. A small business owner struck it big. What is exactly bad about them making a ton of money off of something they created? Are you suggesting that we should take some money away from them?SF_KiLLaMaN

Also, how is CAPITALISM the reason for the Euro about to fail? I'd like to hear your thoughts on that, TC. :lol:

[QUOTE="SF_KiLLaMaN"]You're right, that is because of capitalism. A small business owner struck it big. What is exactly bad about them making a ton of money off of something they created? Are you suggesting that we should take some money away from them?Sedin44

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

black_cat19

A more reasonable tax rate for the middle class would help that. Of course we'd have to sacrifice some things, but I can live with that.

Good for them for their ingenious business they have earned it.

[QUOTE="Sedin44"][QUOTE="SF_KiLLaMaN"]You're right, that is because of capitalism. A small business owner struck it big. What is exactly bad about them making a ton of money off of something they created? Are you suggesting that we should take some money away from them?black_cat19

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

Work smart not hard like the Waltons. Why should it nothing is guaranteed.

[QUOTE="black_cat19"]

[QUOTE="Sedin44"] Isn't that the Occupy movement? Punish those who have worked hard and been successful. Apparently some want to set limits on how much success you can achieve in this country.Communist_Soul

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

Work smart not hard like the Waltons. Why should it nothing is guaranteed.

[QUOTE="Communist_Soul"]

[QUOTE="black_cat19"]

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

DroidPhysX

Work smart not hard like the Waltons. Why should it nothing is guaranteed.

Well that isn't free market capitalism. Shouldn't be allowed.

Europe is fairly socialist and the euro is failing because they have extravagant social progrmas and not enough money to fund them. That's hardly a failure of free market capitalism. And the problem with companies like Wal-mart is that they actually prevent competition in cases so it's really not a true free market. besides, if you dont like the way walmart runs its business, dont shop there. People alwayswhine about them, but then line up to buy cheap goods at their stores.

[QUOTE="black_cat19"]

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

A more reasonable tax rate for the middle class would help that. Of course we'd have to sacrifice some things, but I can live with that.

I also dont know how walmart made its fortune. As long as they engage in legal practices and havent used nefarious methods to get ahead of the competition, I dont have as big of a problem with it.

Have no idea who the Waltons are, so I don't care. I like the current state of the way I live.NiKva

In your parents basement? (don't leave an open for me like that...)

[QUOTE="NiKva"]Have no idea who the Waltons are, so I don't care. I like the current state of the way I live.Johnny_Rock

In your parents basement? (don't leave an open for me like that...)

#Occupywaltonsfidosim

[QUOTE="Marth6781"] This is the problem with our current society, we don't know economics. Vuurk

I love it, I hate walmart but I love how rich they got from nothing

If you read the article:

In 2009, roughly 1 in 4 (24.8%) of American households had zero or negative net worth, up from 18.6% in 2007, and 37.1% of households had net worth of less than $12,000, up from 30.0% in 2007.Article

Going by that logic, I am wealthier then over 37.1% of households in the US, as I have $16,000 in the bank and only $1,000 in debt.

The article also states:;

The Waltons are now collectively worth about $93 billion, according to Forbes.Well, yes, but. Total US household wealth is in the $50 trillion (yes, trillion) to $70 trillion range. The range is depending on whether you want to take before the housing crash or in the middle of it. So the statement is that these Waltons have, between the family, 0.13% of US wealth.Article

Have no idea who the Waltons are, so I don't care. I like the current state of the way I live.NiKva

The problems plagueing the middle class go far beyond a "resonable" tax rate. It is not Washington's tax that is bringing families to their knees, it is the invisible tax of inflation that is. chandlerr_360

We don't have inflation right now. Higher food costs, but not inflation. So what exactly are you talking about?

while i dislike walmart for their mediocre goods (they have the worst clothes, electronics; thats pretty much all i care about) and their monopolization of the american consumer goods market, i cant really blame 'em.

Europe is fairly socialist and the euro is failing because they have extravagant social progrmas and not enough money to fund them.

sonicare

No, this problem is directly the result of the 'spend and don't tax' craziness that's swept the world.

[QUOTE="htekemerald"]

[QUOTE="sonicare"]

Europe is fairly socialist and the euro is failing because they have extravagant social progrmas and not enough money to fund them.

Vuurk

No, this problem is directly the result of the 'spend and don't tax' craziness that's swept the world.

Free market capitalism is just buzz phrase for crony capitalism, don't kid yourself.

I can't understand why that's a bad thing. Someone works hard and gets a little lucky, and they strike it rich. Honestly, I feel like all the people complaining would love to be in that situation, but you don't strike it rich without some hard work and good forethought, so well deserved. Its not like the money wasn't earned legitimately, and the Government does put forth some care in making sure capitalism doesn't spin out of control.

Europe is fairly socialist and the euro is failing because they have extravagant social progrmas and not enough money to fund them. That's hardly a failure of free market capitalism. And the problem with companies like Wal-mart is that they actually prevent competition in cases so it's really not a true free market. besides, if you dont like the way walmart runs its business, dont shop there. People alwayswhine about them, but then line up to buy cheap goods at their stores.

sonicare

[QUOTE="airshocker"]

[QUOTE="black_cat19"]

I'm not an Occupy supporter, but I do wonder, what about the people who work hard and never see their efforts rewarded? Working hard doesn't guarantee success.

chandlerr_360

A more reasonable tax rate for the middle ****would help that. Of course we'd have to sacrifice some things, but I can live with that.

That 30% simply aren't trying hard enough.

Europe is fairly socialist and the euro is failing because they have extravagant social progrmas and not enough money to fund them. That's hardly a failure of free market capitalism. And the problem with companies like Wal-mart is that they actually prevent competition in cases so it's really not a true free market. besides, if you dont like the way walmart runs its business, dont shop there. People alwayswhine about them, but then line up to buy cheap goods at their stores.

sonicare

The people of China and Russia are doing great? You really should refrain from posting stuff until you've developed some slight knowledge about how things are in the world. :roll:

That is disgusting and quite frankly hilarious how the little guy defends them. They (the little guy) quite frankly deserve all the crap that comes with that if they are dumb enough to defend such an absurdity. Free market leads to crony capitalism, there's no way around it. If things have no limit to grow they will continue to grow until they fall and the bigger they are the harder they fall... too bad they fall on top of everyone.kuraimen

@kuraimen I agree with you, however, that this is not a good distribution of wealth. Most healthy societies would have a better or more bell curve like distribution of wealth. The trouble with any capitalistic or merit based system is that the money eventually migrates to a smaller, more successful group. Not sure the ideal way of fixing that. I like the idea of having a system that rewards increased effort, ingenuity, and risk taking. I want to know that if I apply myself harder it may lead to bigger gains, but obviously we cant have extremes.

HAHA Well Wal-mart goes to over seas to unfortunate countries holds up an item at a market and people bid on it to see who can make it cheapier. Thats how you get the lowest prices that wal-mart advertises.

[QUOTE="SF_KiLLaMaN"]You're right, that is because of capitalism. A small business owner struck it big. What is exactly bad about them making a ton of money off of something they created? Are you suggesting that we should take some money away from them?Sedin44

this thread reminds me of the story "theIncredible bread machine"