The Wealthy hoard money- Thom Hartman

[4 t 4]

The Wealthy hoard money, while holding the middle class hostage




Submitted by louisehartmann on 18. July 2012 - 9:30

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The heirs of the Wal Mart fortune – the Walton family – have gotten a lot wealthier since the Bush recession began in 2007, while the rest of us have gotten a lot poorer. According to data from the Federal Reserve, median family wealth in America dropped by nearly 40% between 2007 and 2010. But, during that same, the wealth of the Walton family increased 22% to nearly $90 billion.

So now, the six Walton heirs have more wealth than 48 million American families – or more than 41% of all American families – COMBINED. And yet, despite the incredible wealth disparity – Republicans in Congress are pushing for even more tax breaks for the Wal Mart heirs – and other millionaires and billionaires who fund Republican candidates.

This is a make-or-break moment for the American middle class, as Democrats try to extend tax cuts for working Americans, while cutting them off for the Walton heirs. We’ll see if Republicans go along with this common sense solution, or if they hold the middle class hostage so that their billionaire buddies can hoard even more wealth. Stay tuned.

[sarcasmo]

1. Greed is a disease.

[4 t 4]

2. I agree A disease like hording

stuff, but they hoard money. It is a disorder.

[Bigmack]

7. Yup, the most of the wealthy have

OCD.....they compulsively collect and hoard wealth. They NEVER have enough! Amazing. Ms Bigmack

[Archaic]

3. And look what they buy.

Sports teams.

Dad did create a business, and its pros/cons can be debated.

But they're not doing that. Buying hockey and football teams only funnels money to themselves.

This is why there should be an OPPRESSIVE luxury tax. It has to prevent dynasties. Their kids will never work. Their grandkids will never work. They will be waited on, hand and foot, for their entire lives.

[Bombero1956]

4. with regard to the Walton clan I like to quote Lewis Black

"there should be a word for people who are really greedy and that word is piggy, piggy, piggy, fuck, piggy, piggy."

[sarcasmo]

6. I can seem him all red and shaking while he says that, funny stuff.

[Egalitarian Thug]

5. K&R. The solutions are really easy and numerous. It's forcing the beneficiaries of this obscene

system to implement them that is so very hard.

[OneGrassRoot]

8. Do you have a link?

I'd like to see the area in which this is shared on his site and couldn't find it.

No worries if you don't have it. Just thought I'd ask.

[Scurrilous]

9. Kick

[Nye Bevan]

10. This is from July 2012.

And we did "extend tax cuts for working Americans, while cutting them off for the Walton heirs".

Don't you just love happy endings?

[HiPointDem]

11. kr