I love how the people over at Forbes try and spin this in such a way as to imply that this not a bad thing, and actually makes perfect sense.

I suppose there are different ways of looking at this.

We have some extremely wealthy families that have transferred their wealth successfully.

I guess a good question would be how much in estate taxes were paid on this wealth as it was transferred?

Was it completely avoided, minimal taxes paid or were very hefty sums paid?

Buffet and Gates are "foundationing" their money which means we should NOT be reading 10 years after they die that their heirs have sums of wealth like the Waltons.

I wonder how much more money they would have if they weren't so busy slashing prices.

How much additional money does that bottom 30% have because of low-cost goods that they otherwise would have had to pay a lot more for?

The apologists for the superwealthy will never lack justifications for kissing their masters' butts.

The apologists for the superwealthy will never lack justifications for kissing their masters' butts.

As indicated by both sides of the political spectrum.

I don't like Walmart, so I don't shop there. People who don't mind the Waltons being rich, do. They choose to spend their money there, simple as that, Mod. Doesn't take butt-kissing.

Good point, Adammm. It's not like the Walton's put guns to people's heads and make them shop at Walmart. At least the ones I go to, the people don't act is if they were forced to go there. Maybe it's different in other places.

It's sad that that's a point that even needs to be made with some people.

Sam Walton started with a tiny little store in Arkansas. He and his family didn't fall from the sky with international corporate power. Don't like Walmart's compensation policy? Start your own little store and do what he did, with the "fairness" you want, instead of complain.

The apologists for the superwealthy will never lack justifications for kissing their masters' butts.

#5 | Posted by moder8 at 2011-12-14 06:03 PM | Reply | Flag: COLLECTS A GOVERNMENT CHECK

The question is, what are we to make of this point?
Posted by moder8

I can't even begin to imagine just how upset moderhate would be if he had had the terrible misfortune to have been one of Sam Walton's kids

Didn't one Walton have it all at one time?

I don't shop at Wal*Mart, but it has nothing to do with politics. I just hate gigantic crowded stores with huge checkout lineups.

Fortunately coal mining pays pretty good these days and I can afford to blow an extra $0.76 on a jug of wiper fluid at the less crowded 'expensive' places.

Good for them! Look at all the jobs they have created for that bottom 30%. I scratch me head over how one-dimensional the liberal view of wealth is.

The left is Paris Hilton- they want money but not have to do the work involved in earning it. Envy, envy, envy rather than find inspiration in a kid who can come back from WWII with 5000 bucks, and at age 26 turn a general store in nowhere, Arkansas into the largest American business in history.

#9... this guy's little project has killed jobs, innovation, and over-all doesn't pay a decent living wage. but, hey, that's capitalism, right?

it stinks; it's corrupt. time to redistribute and prevent this from ever happening again. how is the only question; when is now.

how much is too much, or, he who dies with the most wins?

"redistribute" is a euphemism for "rob and plunder." Ichiro, if you don't like that corruption or low wages, go start your own store that pays a living wage and show walmart how its done. That is capitalism- competition. You can advertise your higher wages and ethics to attract customers.

You can advertise your higher wages and ethics to attract customers.

#18 | Posted by adammm

And higher prices.

the largest American business in history.

#15 | Posted by adammm

The largest global business in history.

Good night John-boy

#16 | Posted by ichiro

Okay, itchy, what's the threshold? What is the lowest level you want to place on product pricing? How much competitiveness do you want to eliminate? I am buying more product from Amazon. Why? 1: Because of the variety available that is either none existent in the retail stores or fast disappearing, and; 2: Because of the much lower prices on product on Amazon. So what if I have to wait a handful of days to receive my purchases.

So will you now attack Amazon and other on-line retailers for the same reasons you beat on WallyMart? Add in the reduction in local businesses and employment because of the on-line retail explosion. Yeah, I am contributing my portion to this demise. I am also culpable in the loss of bookstores and newspapers because I buy most reading material in digital format nowadays.

Of course, the first HEMP will hork all this up Big Time, but until then...

#2 | Posted by eberly
Buffet and Gates are "foundationing" their money which means we should NOT be reading 10 years after they die that their heirs have sums of wealth like the Waltons.
------------
In some cases the foundations are being run by their children.

#5 | Posted by moder8

The apologists for the superwealthy will never lack justifications for kissing their masters' butts.
-----------
And the people who want to take their money will never admit they are crooks.

The very same liberals who cry about this kind of wealth, and want to take, will skim 75% for themselves before the re-distribute.

It's the liberals who are the cons not the Walton's.

"Sam Walton started with a tiny little store in Arkansas." And while he was alive they sold mostly American made goods which created jobs for lots of Americans. He was a respected business man. Since his death things have dramatically changed and "America's Store" is not "China's Outlet Store." Taxpayers subsidize Walmart by providing food stamps and Medicaid for employees paid so low that they qualify.

Well we have another example of Danni talking shit about things she has no knowledge of.

Wal-Mart Provides Health Insurance To More Employees This Year, Company Survey Finds

Wal-Mart provides health coverage for 47.4% of its employees, an 8% increase from last year, while 43% of its employees have health coverage through another source and 10% are uninsured, according to a recent company-sponsored survey,

nearly 5% are covered under Medicare;

Danni's post #26 hits the nail on the head. Regardless of the humble beginnings of Sam Walton and Walmart, it has now grown into a made-in-China factory outlet that pays workers comparatively extremely low wages and minimal benefits.

#28 | Posted by moder8

Have you tried to buy American lately? I'm building a house and I when out and spent what I thought was a small fortune on Door hardware from Schlage. You guessed it (made in China). I am replacing all my outdoor ground fault outlets this weekend as they have all died since they were installed in 2004. (made in China). The most expensive receptacles I could find to replace them is? (made in China).