Wal-mart Heirs: Obama tax cut funds rightwing war chest

[Donnachaidh]

http://www.dailykos.com/story/2011/03/04/952568/-Wal-mart-Heirs:-Obama-tax-cut-funds-rightwing-war-chest



With everyone focused on the Kochs (Tied #5 on Forbes' Wealthiest Americans) and to a lesser extent Gates (#1 on Forbes' Wealthiest Americans), I 've wanted to revisit the Walton family who fill slots #4, #7, #8 and #9 of the Forbes Top Ten.

Fourth-richest American Christy Walton excepted (she is widow of Sam Walton's son John who died flying a lawnmotor in 2005), Jim Walton, Alice Walton and Rob Walton learned the family business and rightwing ideology at the knee of Sam in northwest Arkansas. Although Sam put Hillary Clinton on the Wal-mart board at one time, it was all about then-Gov Bill Clinton and less so about Hillary. One can search the Walton clan's political giving (overwhelmingly Republican) or activities of the Walton Family Foundation (school vouchers, privatization, ALEC, State Policy Network) to measure their true ideological position.

Rob Walton is still the Chairman of the Board of Wal-mart. The Walton family cumulatively holds 1.7 billion shares of WMT (approx. 45% of the total 3.75 billion outstanding shares as of 3/31/10.) The Wal-mart Corporation just gave Rob and the family a huge dividend gain. And thanks to Obama's dividend tax giveaway, this gain got supercharged. Instead of thanking Obama, however, this windfall will now go into the Walton's right wing war against the President and everything he wants to achieve. Exactly how much below the fold.

Conservatively: $603,570,800.38

More at the link --

Well THAT cave in worked out well, didn't it? :sarcasm:

[xchrom]

1. Indeed. Nt

[TheKentuckian]

2. Duh

Shoveling resources to the top 20% is an across the board loser.

[unblock]

4. top *20* % ? try the top 1%

by salary (though not at all by net worth) i'm in the top 20%, and i certainly have not been the recipient of any great "shoveling" of resources. i got a token tax cut; yes, more than those earning less that i get, but FAR closer to nothing than to anything approaching the kinds of tax cuts the top 1% get.

no, the shoveling is going to the top 1%, and the rest of the top 20%, and below, are given peanuts, like shrub's famous $300 tax break for "everyone" while the super-rich got enough to buy a luxury vehicles.

[dmr]

3. That's what I've been saying all along

Those Bush* tax breaks were funding Democratic opposition; and supporting furthering of the wealth of milli/billionaires.

We are in a vicious anti-American-people cycle.
:hi:

[bullwinkle428]

5. AARGH. Some posts just SCREAM out for another "chess" reference.

:banghead:

K&R.

[nc4bo]

6. Oh you mean he's really working those multi dimensional chess games

like a hedgefund manager works a ponzi scheme?

My mom said to me this evening that she thinks our President will get "lots of stuff done" as a lame duck during Term II.

I told her I hope she's right but I've learned to keep my money in my pocket and so should she.