Made In America: Wal-Mart's Gluttony, or How the Waltons Get To Keep Their Grubby Paws On Most of Their Billions


Greed, thy name is Walton. In the wake of Wal-Mart's successful bullying of D.C. into rejecting a living wage that would have cost them pennies relative to their $100 billion - or more wealth than the entire bottom 40% of the country that helped them make it -Bloomberg details how America's richest family stays that way through a complex network of technically legal but morally sketchy loopholes allowing them to hoard their money and avoid taxes meant to prevent such plutocratic dynasties, set up on the backs of underpaid workers, from existing in the first place.

One of their key slimy tricks is setting up "charitable" trusts that - unlike fellow rich guys like Warren Buffett and Bill Gates who have some inkling of the concept of a social contract - ultimately make them more money than they ever spend on them. Warning: Don't read if your blood pressure's high. If you need any more reasons not to feed the beast, go here. And here.

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Thursday, 22 October 2020

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