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the current Waltons inherited their money, though certainly some have worked in the business right?
Are you trying to say we should tax inheritance much more?
Every $1 of shareholder value is actually 50% for the family, 50% for "regular" shareholders (based on ownership)
WalMart makes 3 cents on $1 of sales. Imagine that, for a minute:
Your job pays you $20/hr. After you pay "your bills" - rent/mortgage, utilities, food, the most efficient car you can own, you earn $0.60 every hour. Now of course, your labor was overlooked, you got "paid" for that too. If Wal-Mart is awful, all minimum wage jobs - then you netted $7.85. Let's even assume you were one of the Wal-Marters that got health insurance.
The Waltons aren't BUYING shares of Wal-Mart at any significant %. Therefore, they don't play any role in the stock value, other than how Wal-Mart itself makes money.
No.
I wasn’t assigning any value judgement one way or another.
I was just pointing out that the post I quoted = information that is wrong and how it is wrong.
I liked the original term better - it was called "Horses and sparrows economy". From the observation that if you feed your horses more, the sparrows also get fatter. You just sort of have to ignore what the sparrows are forced to eat.
Money trickles up. Give a poor guy $100, and he spends the ever-lovin' out of it. Poor people tend to have a lot of unfulfilled needs and will set that money in circulation, pronto.
Give a rich guy $100, and his stock holdings will move imperceptibly upwards.
And money being in circulation is what makes a vibrant economy.
Quote:
Have you ever been offered or started a job working for a poor person?
You think that's clever and that's sad. I'm not a butler or valet, so no one is hiring me out of their personal wealth. Used to work in the movie business. And the guy spending $10 to take his date to see a movie - he was the one providing my salary. Not the studio head, rich though he was.
It did trickle down, it trickled all the way down to China!
That's where the democrats and repubs allowed all of our manufacturing to go.
The unions didn't help either, their demands were so great that the companies told em to f*** off and decided China was ideal, and our government allowed it to happen.
Yeah because companies decided that they should pay executives more while shipping jobs off-shore and possibly outsourced.
We've been sold a crock of crap the minute they came up with the idea of progressive taxation. The fact that you come from a place where you think that "they owe", is problematic, in itself. Why do they "owe" any more than anyone else?
In my view, they have always paid a lot more than they "owe", while other people pay a lot less. You should be thanking them for their excess contribution, rather than treating them with scorn, and telling them they are not paying enough.
I don't think you caught that poster was claiming "they" don't even pay what they owe. Nevermind that "we" should tax "them" at a higher rate.
I almost fell over laughing reading "standards of living rise"
....Used to work in the movie business. And the guy spending $10 to take his date to see a movie - he was the one providing my salary. Not the studio head, rich though he was.
And without the studio head, how does the movie get made, and become available to the guy with $10 to spend on it?
It's called inventing a time machine so that they can go back and buy Amazon stock at $2/share when it was an online book seller.
$100 @ IPO = $1.58MM "today" (when today was May 15, 2020).
If one "guessed" that the current core principles of the stock market wouldn't be crushed by Covid, then you could have scooped up AMZ after a 22% drop to $1,676 on March 12 (which was the same price as a year before). You've practically doubled your money.
Less risky - waited until "lockdowns" were announced, and bought at $1,900 April 1? Well, you're "only" up 41%.
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