Forbes just published its 400 richest Americans list.
Numbers 6,7,8 and 9 belong to the Walton family branches, each with
fortunes in the BILLIONS of dollars.
The Walton family made its money from Walmart. Yes the low price chain with mega stores all over the US.
Walmart is also known for not allowing their workers to unionize and paying them the minimum wage that has not been updated in years. As a result people working 26 hours a week (that is the number of hours they hire their employees) can’t make ends meet and rely on the federal government to supplement their income.
Why should we care? because you and I are subsidizing a business who’s owners make billions. Every time there’s talk about raising the minimum wage for their workers, Walmart says it will have to raise prices accordingly, and won’t be able to provide the very attractive prices they offer.
Really? As if there is no other option. As if their profits are a holly cow not to be touched.
How about making a few millions less a year and enabling your employees to live decent lives without having to rely on government “entitlements”?
This is the ugliest face of capitalism we hoped passed from the world.