The combination of Bush's 2003 tax cuts for the rich, Obama's extension of those tax cuts, and Trump's passage of a $1.5 trillion giveaway to the wealthy last year has netted the owners of Walmart $1.1 million per day in dividend income tax savings for the past 16 years. The Walton's total savings between 2003 and 2018 exceeded $6.5 billion. That the Walton family has raked in over a million bucks per day in tax savings for the past 16 years is conservative, and underestimates the overall tax windfall the Waltons have received during the three most recent administrations.
"It is time Americans know that the Walton family, the wealthiest family in the world, is being subsidized even as Walmart workers live paycheck-to-paycheck with jobs that have few benefits." Amy Ritter, communications director for union-led campaign Making Change at Walmart (MCAW), said.
MCAW—which is run by the United Food and Commercial Workers International Union—pointed out that its analysis only examined "the Walton family ownership of Walmart stock through two entities—Walton Enterprises LP/LLC and the Walton Family Holdings Trust. The savings for individual family members, who own millions of additional Walmart shares on which dividends are also paid, was not included in this analysis."
25,000 American adults, about the number of people in a large basketball stadium. That's the richest 0.01% of America. Together they own nearly $10 trillion, which is approximately the total wealth owned by the 3.5 billion adults who make up 70% of the entire adult world. While the USA has by far the greatest percentage of its people in the world's richest 10%, it is second only to India in the percentage of its people in the world's poorest 10%. To put it another way, one out of seven American adults is among the world's least wealthy 10%. To put it yet another way, while 100 million American adults are among the world's richest 10%, 34 million American adults are among the world's poorest 10%.
Jeff Bezos has $160 billion. That's equivalent to the combined budgets for Education, Housing, and Health and Human Services. While he has been profiting from the Internet and the infrastructure built up over many years by many people with many of our tax dollars, he has continued to avoid the taxes that are meant to pay for all the benefits received by his company.
https://www.commondreams.org/news/2018/10/22/65-billion-low-ball-estimate-walton-familys-haul-after-16-years-bush-obama-and-trump
"It is time Americans know that the Walton family, the wealthiest family in the world, is being subsidized even as Walmart workers live paycheck-to-paycheck with jobs that have few benefits." Amy Ritter, communications director for union-led campaign Making Change at Walmart (MCAW), said.
MCAW—which is run by the United Food and Commercial Workers International Union—pointed out that its analysis only examined "the Walton family ownership of Walmart stock through two entities—Walton Enterprises LP/LLC and the Walton Family Holdings Trust. The savings for individual family members, who own millions of additional Walmart shares on which dividends are also paid, was not included in this analysis."
25,000 American adults, about the number of people in a large basketball stadium. That's the richest 0.01% of America. Together they own nearly $10 trillion, which is approximately the total wealth owned by the 3.5 billion adults who make up 70% of the entire adult world. While the USA has by far the greatest percentage of its people in the world's richest 10%, it is second only to India in the percentage of its people in the world's poorest 10%. To put it another way, one out of seven American adults is among the world's least wealthy 10%. To put it yet another way, while 100 million American adults are among the world's richest 10%, 34 million American adults are among the world's poorest 10%.
Jeff Bezos has $160 billion. That's equivalent to the combined budgets for Education, Housing, and Health and Human Services. While he has been profiting from the Internet and the infrastructure built up over many years by many people with many of our tax dollars, he has continued to avoid the taxes that are meant to pay for all the benefits received by his company.
https://www.commondreams.org/news/2018/10/22/65-billion-low-ball-estimate-walton-familys-haul-after-16-years-bush-obama-and-trump
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