Thursday, November 22, 2012

Wicked Walmart

Workers at Walmart are pledged to strike on Black Friday (23rd November), the crazy US shopping day after Thanksgiving.

Many Walmart staff are the working poor - at salaries insufficient to pay for housing & food, they've no health or pension benefits when the employer keeps worktime below 28 hours per week.

American Dream for one family, nightmare for millions.

Walton family wealth = the wealth of 42% of all American families. Major owners of Walmart are the Walton family, whose wealth ($89.5 billion in 2010) equals that of the bottom 48.8 million American families.

The Walmart workers are not freeloaders, just regular folk slaving at unglamorous hard work. The 1% teach us to despise those lazing in entitlement programs. But in fact only their own rich kids do squat -- living large and lording it over America.

Entrepreneurs = only THREE PERCENT of the Very Rich
"According to both Marketwatch and economist Edward Wolff, over 90 percent of the assets owned by millionaires are held in a combination of low-risk investments (bonds and cash), personal business accounts, the stock market, and real estate. Only 3.6 percent of taxpayers in the top .1% were classified as entrepreneur..." (link)