Lots of good articles up at Alternet.com today and this is one of them…
This just isn’t right….
Another reason for me to keep up my 12+ year boycott of Wal-Mart….
The crowd in DC seems to have forgotten you can’t have a healthy economy without a healthy middle class. Try as they might, the Rich just can’t buy everything…
S. Robson “Rob” Walton, Walmart chairman, has a net worth of about $19.7 billion. And he’s only number 9 on the list of 2010’s top 20 richest Americans.
Walmart workers, meanwhile, make around $8.75 an hour—about $18,000 a year. They’d have to work over a million years to approach what the chairman of Walmart Stores is sitting on. Alice and Jim Walton each have about $20 billion, and Christy Walton has $24 billion.
Last year Jonathan Turley noted that the CEO of Walmart, Michael Duke, makes his average employee’s yearly salary every hour.
A new report by the Washington Post on “Breakaway Wealth” contains new research by economists Jon Bakija, Adam Cole and Bradley T. Heim, who analyzed tax returns from the top 0.1 percent of earners in the U.S. That top percentile takes home more than 20 percent of the personal income in the country, and their average income is $5.4 million. The average income of the bottom 90 percent, according to the Post, is just $31,244.
via CEO of Walmart Makes in One Hour What the Average Employee Makes In a Year: How Skyrocketing Inequality Is Hurting America | | AlterNet.