Six Waltons Have More Wealth Than the Bottom 30 % of America

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massimo
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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby massimo » Wed Dec 14, 2011 6:38 pm

Not feeling this whole premise. The article also states:

"In fact, given that I have equity in my home and no other debt than mortgage, I have, as is highly likely do all readers of these pages, more wealth than the bottom 25% of Americans added together."

Yes, the Waltons have piles upon piles of cash. Yes, I believe the rich did not get their money in a vacuum and should contribute a larger percentage to taxes. But, I think the statistic you quote is designed to have an emotional effect and is largely meaningless.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Henry Vilas » Wed Dec 14, 2011 6:43 pm

When Walmart employees in Wisconsin asked about getting health care benefits, Walmart told them to sign up for BadgerCare instead.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby jonnygothispen » Wed Dec 14, 2011 6:48 pm

No, not the same for sure, but...
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.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby bdog » Wed Dec 14, 2011 8:32 pm

Geez, I knew John-Boy and Mary Ellen were doing ok but had no idea about the others.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby green union terrace chair » Wed Dec 14, 2011 8:39 pm

The People Who Own Wal-Mart Have More Wealth Than the People Who Shop at Wal-Mart.

Don't like it?

THEN DON'T FUCKING SHOP AT WAL-MART

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby jonnygothispen » Wed Dec 14, 2011 8:57 pm

WalMart's just taking advantage of the system better than everyone else who buys slave-labor made goods. It's much better to fight that system than to protest boycott, imo.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Ned Flanders » Thu Dec 15, 2011 2:21 pm

Wow. I guess Wal-Mart really delivers value to consumers.

Case in point: we stopped at the Wal-Mart off 94 in the Dells at about 9:30 p.m. the Friday of Labor Day weekend. The place was a frickin' zoo.

Bully for them.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby rabble » Thu Dec 15, 2011 2:27 pm

Ned Flanders wrote:Wow. I guess Wal-Mart really delivers value to consumers.

Case in point: we stopped at the Wal-Mart off 94 in the Dells at about 9:30 p.m. the Friday of Labor Day weekend. The place was a frickin' zoo.

Bully for them.

They deliver cheap. And since we've created such a huge pool of poor, they'll flock to cheap.

Not only are we catering to the swelling demographic of poverty we've created, we are bolstering the global economy by making use of the slave and child labor systems of our friendly neighbors to the east who are also helping us out with a loan or two now and then.

Bully for us.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Ned Flanders » Thu Dec 15, 2011 2:38 pm

If you know anything about Wal-Mart, you'll know that they're a very frugal company (through the whole retail and supply chain) that passes on those savings to comsumers. They have super-efficient warehouse and delivery procedures, force vendors to standardize billing, packaging, etc, negotiate hard and buy in volume.

Sam Walton had the idea to supply a variety of items to underserved rural areas at a low cost and the rest is history.

I never understood the whole "Wal-Mart sells cheap crap" argument. They probably sell about 95% of the same items that Target does: Tide, Cheerios, Lego, Levis, Coke, Pepsi...

Look, if you don't like the place, don't shop there. But millions of Americans who are on a budget or live in more rural areas do and there's nothing wrong with that.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby fisticuffs » Thu Dec 15, 2011 2:48 pm

If you know anything about Wal-Mart, you'll know that they're a very frugal company (through the whole retail and supply chain) that passes on those savings to comsumers. They pay slave wages and stick health care coverages of their employees to the states, strong-arm vendors into horrible deals with their sheer size, negotiate hard and buy lawmakers in volume.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Ned Flanders » Thu Dec 15, 2011 2:58 pm

Poor Fistie (See his related Fox News whining thread). If you don't like Wal-Mart, don't shop there. But here's a 'lil news for ya: Target, Sears, Shopko, Pennys, all lean on their vendors. They all buy crap from China and other god-foresaken places. Retail pay is low, because the skill set required to work in retail offers little barrier for anyone to work there. Hours suck, customers suck, holidays suck...

Can you tell that I used to work in retail? :mrgreen:

To summarize, Wal-Mart:

They got their start serving underserved regions
They have an efficient supply chain
They sell the same stuff that Target and Sears does
They deliver value to shoppers

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby rrnate » Thu Dec 15, 2011 3:32 pm

Ned Flanders wrote:P

Can you tell that I used to work in retail? :mrgreen:
....
They sell the same stuff that Target and Sears does


Yup!

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Michael Patrick » Thu Dec 15, 2011 3:40 pm

Ned Flanders wrote:If you know anything about Wal-Mart, you'll know that they're a very frugal company (through the whole retail and supply chain) that passes on those savings to comsumers. .


If all they did was pass the savings on to the customers, then they wouldn't be richer than the bottom 30% of Americans combined. They is passing a whole lot of it on to themselves.

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Re: Six Waltons Have More Wealth Than the Bottom 30 % of Ame

Postby Ned Flanders » Thu Dec 15, 2011 3:57 pm

Michael Patrick wrote:
Ned Flanders wrote:If you know anything about Wal-Mart, you'll know that they're a very frugal company (through the whole retail and supply chain) that passes on those savings to comsumers. .


If all they did was pass the savings on to the customers, then they wouldn't be richer than the bottom 30% of Americans combined. They is passing a whole lot of it on to themselves.


Wal-Mart's net profit margin in 3%; Apple's is 23.4%

Are you concerned?

http://ycharts.com/companies/WMT/profit ... mpCos=AAPL


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