Tuesday, November 6, 2012

Forbes 400 Wealthiest Americans Worth More Than 155 Million Americans

Forbes 400 Wealthiest Americans 

The 400 Richest Americans Are Now Richer Than the Bottom 50 Percent Combined. 
Yes, 400 people have more money than 155 million Americans combined. 
The Walmart heirs alone own more wealth than bottom 40 percent of Americans combined.

Walmart's Low Wages Could Cost Taxpayers $900,000 Per Year Per Store, House Dems Find -HuffPost

 400 Americans have more wealth than half of all Americans combined -PolitiFact.com
The Walmart heirs alone own more wealth than bottom 40 percent of Americans combined. -PolitiFact.com

Walmart Is America’s First Welfare Queen Superstore -Link
  • Walmart’s intentionally low wages force employees to need approximately $420,000  UPDATED: $900,000 (link) per year, per store, totaling $2.66 BILLION annually in food stamps and other taxpayer assistance…to survive.
  • Walmart’s intentionally low wages cost the country HUNDREDS OF MILLIONS of dollars in payroll tax deductions for Federal, State, and Local taxes.
  • Walmart’s intentionally low wages cost our communities the ability to hire and retain important public service workers like firefighters, police officers, maintenance workers, and teachers.
  • Walmart’s intentionally low wages cost our communities with their increased need for those same public services they are underfunding.
  • Walmart’s intentionally low wages and lack of covered benefits cost taxpayers over $1.02 BILLION a year in healthcare costs.
  • Walmart’s intentionally low wages cost taxpayers as much as $225 MILLION in free and reduced price lunches for school-age children.
  • Walmart’s intentionally low wages cost taxpayers over $780 MILLION in tax deductions for low-income families.
California spent almost 1 million dollars in 2011 on welfare for Walmart employees. The heirs sit on billions while their workers qualify for food stamps...

  The Most Addictive Infographic About Walmart's Greed We've Ever Seen -Link

The Richest 1% Have Captured America's Wealth -- What's It Going to Take to Get It Back? -Read more  

The 400 richest Americans used to pay  30% of their income on the average to Uncle Sam. Today, they pay 18% on the average. The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush and 100% republican control in 2003, taking the rate paid on dividends and capital gains down to 15%. Mitt Romney pays 13%.
Shockingly, the plan to raise the debt ceiling or lower it collects nothing from the wealthiest Americans to reduce our budget deficit. The Republican right wing holds the Obama White House hostage. It’s a sad day for the principle of sharing the pain equitably. Republicans only demand we take more from the needy, the elderly, schools, fire fighters, teachers, lay off public employees…
This mess would not be nearly as bad had we had all those taxes coming in over the last 10 years.

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