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The Waltons of Walmart - The Greediest Family In The World

Business  (tags: WalMart, greedy family, The Waltons, taxes, inheritance taxes, strategies )

- 1978 days ago -
The strategies the Walton family uses to avoid estate and inheritance taxes on their fortune is establishing a type of charitable trust that can shelter money from taxes, and later put that money back into the pockets of family heirs, even at a profit.


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JL A (281)
Tuesday September 17, 2013, 9:23 am
Sam Walton must be turning over in his grave.

Carrie B (306)
Tuesday September 17, 2013, 11:21 am
I recently read that the two of Sam Walton's daughters and two of his nieces are among the richest women in the U.S. Though one daughter ~ Alice does some good with her money.

Terry V (30)
Tuesday September 17, 2013, 1:39 pm
what a sad world we live in.


Sheryl G (359)
Tuesday September 17, 2013, 1:44 pm
Well that may be so concerning Alice but within the article it states that their so called "good deeds" are really a way to protect their monies from paying tax and by the time it gets turned around they have made money off of their good deed.

So they appear on one hand to look like they care or are helping out, yet it's really a way to not pay taxes and to keep more of their money for themselves. They've built for instance a Museum but if they pay their help so low those people will never get to go inside. They also send money for Educational it the same as the Koch Brothers help to schools? They claim that money is to help low income students yet the very fact is they pay their employees so little in ensures low income students exist.

Mitchell D (82)
Tuesday September 17, 2013, 1:54 pm
When the hell is enough, enough!?

Christeen A (299)
Tuesday September 17, 2013, 1:58 pm
I think even Sam Walton would be shocked.

Athena F (131)
Tuesday September 17, 2013, 2:08 pm
Eat the rich!

David C (81)
Tuesday September 17, 2013, 2:20 pm
well said.

SuSanne P (193)
Tuesday September 17, 2013, 2:48 pm
Thank you Dandelion. So very SAD.
"We have agreed, as a society, that at least some of these huge piles of wealth should be put back into the public coffers when their rich owners die. Not all of the wealth; not even most of the wealth; just enough to get some back in circulation, for the good of everyone, and to try to do something to slow down the creation of personal billionaire kingdoms"

Jaime A (52)
Tuesday September 17, 2013, 2:49 pm

divergent revolution (309)
Tuesday September 17, 2013, 3:06 pm
noted,they will always find a way,loopholes are never getting fixed
thanks Dandelion

Eugene J (290)
Tuesday September 17, 2013, 3:15 pm
"And also remember that all of the millions and millions of workers who made those billions and billions of dollars possible are trapped in a world of low wages, and are prevented from unionizing and bettering their own situation by the zealous efforts of Walmart."

I think every "news" organization in the world that runs any story of any kind about Sam's voracious offspring, ought also be required to run a sidebar that says something to the effect of, oh, by the way, in most locations where the Walton's own stores, their employees are a net drain on that local government because wages and benefits are so low most of them qualify for food assistance programs, sometimes housing programs, and public medical assistance as well. So much for giving back.

. (0)
Tuesday September 17, 2013, 3:30 pm
And they have not raised prices. So, what does my relationship consist of? Shopping for lower prices.

Lois Jordan (63)
Tuesday September 17, 2013, 3:45 pm
Noted. Thanks for posting, Dandelion. Such wonderful philanthropists! Allowing their workers to be paid so little that they need 2 jobs, and then don't qualify for food stamps but still can barely afford to buy decent food! So, rather than pay a "living wage" with benefits, they get dressed up so nicely and have photos taken of their great benevolence to society. I have never been impressed with great wealth, but as I've aged, I've grown to loathe it. Those with the most take from those with the least to further feather their caps.

Philanthropy: The effort to increase the well-being of mankind, as by charitable donations. Love of mankind in general.
Nope. The Walton family doesn't seem to fit with that definition.

Mary R (280)
Tuesday September 17, 2013, 4:01 pm

Diane K (134)
Tuesday September 17, 2013, 5:31 pm
I guess when you know how, you know the way to find more riches. I agree with Mary. thx for posting, Dandelion

James Travers (6)
Tuesday September 17, 2013, 5:43 pm
I just saw a stat today that since the recession recovery began, 95% of all US income has gone to the top 1%. It's my philosophy that we are basically no different than ancient Egypt and that vast majority of us are merely slaves. We even have our version of gladiators who risk their health and even their lives to entertain the masses.
Instead of feeding us for our labors the elite have figured out how to make it appear we are earning a living. But most insidious of all is how they have convinced the American workforce with the illusion of "the American Dream"

Sheryl G (359)
Tuesday September 17, 2013, 6:29 pm
You got that one correct James....keep them believing and the masses will continue on in the illusion.

Franco Di Palma (374)
Tuesday September 17, 2013, 6:39 pm
This is so disheartening. This family and others like them should for one day have to walk in the shoes of their so called "employees". I doubt that any of them know or care about the poor or what the word "charity" really means. This is a sick world.

Twyla Sparks (208)
Tuesday September 17, 2013, 6:42 pm
stories like this makes it so hard on the honest people. I am pretty sure Sam Walton would disown each and everyone of them if he could. Shame on all of them. smh

LaurenBackSoon Kozen (173)
Tuesday September 17, 2013, 6:54 pm
Noted & Shared. This is so sad. Thanks for posting Dandelion.

Barbara K (61)
Tuesday September 17, 2013, 7:16 pm
I don't shop at WalMart. I shop at my local stores, the ones Wal-MArt tries to put out of business. Get better service and the employees are happier. We need to shop locally so we can improve our economy. Why shop at Wal-Mart and just enrich the richest family even more. Help out the other families trying to run businesses.

Sheryl G (359)
Tuesday September 17, 2013, 7:23 pm
I agree Barbara, until people stop supporting that which is doing us no good, then these practices will continue.

Katie & Bill D (107)
Tuesday September 17, 2013, 8:26 pm
I bet Sam is turning over and over in his grave, Sam was a Good man, he believed in
"A fair days pay for a fair days work". Until the people that think they are getting a bargain realize they are getting junk, all imported cheap crap, just lasts long enough till they can go back and get another one. Not caring how the people are being treated. The only ones that say they are treated well are the one's that run to the manager's and some time those manager's will do the same to them!

Laurie H (818)
Tuesday September 17, 2013, 9:19 pm
I believe that Sam was a good person as well & would be very upset, if he knew what was happening today. Thanks so much Sheryl for this share!!~

Rehana V (0)
Tuesday September 17, 2013, 9:26 pm
Sies! Disgusting that they've amassed so much wealth & they cannot pay their employees a a decent salary.Modern day slavery.

TomCat S (127)
Wednesday September 18, 2013, 12:03 am
That';s who Republicans represent. They keep it so we pay for their play.

Judy C (91)
Wednesday September 18, 2013, 12:23 am
This story is so disgraceful and insane, that some people would be able to look at themselves in the mirror each day, and not find anything wrong with what they are doing. With such schemes as the TPP being perpetrated on the People of the world, in the dark, things will only get worse. I just keep thinking of the David Bowie classic song "The Man Who Sold the World".

The Man Who Sold the World - David Bowie

Jonathan Harper (0)
Wednesday September 18, 2013, 4:37 am

Candy L (473)
Wednesday September 18, 2013, 4:43 am
I'm so glad That I don't shop at Walmart!

Sheryl G (359)
Wednesday September 18, 2013, 4:53 am
Speaking of David Bowie songs it also reminded me of his song This Is Not America.
This Is Not America

Gloria picchetti (304)
Wednesday September 18, 2013, 5:17 am
I will starve to death naked before I set foot in Walmart.

Arielle S (313)
Wednesday September 18, 2013, 9:02 am
You don't spit in the wind, you don't tug on Superman's cape and you never ever shop at Walmart.... I watched one 20-some miles from here totally destroy what was a cute little town - now it's a ghost town and the prices at Walfart are no cheaper than they are here....

Ben O (135)
Wednesday September 18, 2013, 10:07 am
If the Walton's actually is the greediest family on this Planet, then they are indeed GREEDY!!!
BTW; -I often wonder how those stinking rich bastards can endure themselves...???

Sheryl G (359)
Wednesday September 18, 2013, 10:20 am
I wonder too there never a time when one gets a bit of compassion?

Joanne Dixon (37)
Wednesday September 18, 2013, 10:38 am
Sam does look good in comparison to the rest of the family, but he really was no saint. He was on record that his business plan was to put other discount stores out of business and then raise prices. Impressive that his spawn is greedier than the Kochs.

Past Member (0)
Wednesday September 18, 2013, 1:01 pm
Rothschild's and Rockefeller's!

Bea friends Kindly (22)
Wednesday September 18, 2013, 1:23 pm
Nothing new......... Rich get richer by legaly evading tax, while the poor pay rates that make it impossible to be better off.... Here in UK Virgin is a word that makes me want to puke as Richard Branson seems to have the monopoly here............ Thanks Dandelion for this story, it's one of my favourite subjects. Money breeds ignorance and ignorance is bliss to these people........

Audrey B (0)
Wednesday September 18, 2013, 1:36 pm
GREED, GREED, GREED when is enough money enough? Mr. Walton would be turning over in his grave if he knew how his family was running his business. From what I have read he was a giving person and a nice man to work for.

He encourage low prices and great customer service. Sam credited the rapid growth of Walmart not just to the low costs that attracted his customers, but also to his associates. He relied on them to give customers the great shopping experience that would keep them coming back. Sam shared his vision for the company with associates in a way that was nearly unheard of in the industry. He made them partners in the success of the company, and firmly believed that this partnership was what made Walmart great.

So much for keeping up Sam's dreams for Walmart. His family should be ashame of themselves.

Roger G (148)
Wednesday September 18, 2013, 3:15 pm
noted, thanks

Aurea Aurea Walker (226)
Wednesday September 18, 2013, 3:17 pm
Sam Walton is not turning over in his grave! The leaf never FALLS FAR FROM THE TREE. But I do believe that bad karma will visit the Walton's sooner or later. The sad fact is that new studies show that the rich really do think they are better than the rest of us. I personally will not shop at a Walmart, but it seems most large retail companies are not far behind in lousy slave wages, lack of benefits, maternity leave, sick days and of course the big one MEDICAL INSURANCE! It may cost you a few more dollars but try shopping locally and support the small business owners. In most cases the extra money spent at your local small business owner stores, is offset by their much more pleasant manner in how they treat you, smile and welcome you and in many cases they even remember you and your name. To me that is a great trade off for a few extra dollars spent.

Aurea Aurea Walker (226)
Wednesday September 18, 2013, 3:38 pm
I left out that the so called "tax loopholes" are put in place by either the lobbyist the rich (read Walton's, Koach bros et al...) have in place or the politicians they own!

Winn A (179)
Wednesday September 18, 2013, 4:33 pm
no surprise here

Ravenna C (20)
Wednesday September 18, 2013, 5:20 pm
I have said this for a long time. The Walton Family is one of the most egregious of offenders when it comes to screwing usm the taxpayers as well as their own employees.

While they are some of the richest people in the world you and I the taxpayer have to use our tax dollars to pay for healthcare and food stamps because WALMART (and thus The Walton Family who so greatly Profits), Refuse to pay their employees a living wage!!!!

They are the epitome of where the wrong turns in Capitalism went.

Ray M (0)
Wednesday September 18, 2013, 8:40 pm
Amen to that but not to forget the Kochroaches, oil barrens, banksters, NRA, et al. Greedy bastards all.

Mandi T (366)
Wednesday September 18, 2013, 9:48 pm

Karen Kersten Chestney (112)
Thursday September 19, 2013, 2:01 am
The Waltons are a good example of how much the 1Percent DON'T care about the 99 percent!!!

Devon Leonard (54)
Thursday September 19, 2013, 10:58 am
Extremism in all its forms is dangerous...and greed is an extreme reaction of a fear based mentality. Thank you once again dear Dandelion for spreading all these good seeds which foster increased awareness..!!

Thursday September 19, 2013, 1:06 pm
Reallyreallyrally pathetic.
SO many others have already expressed my thoughts on this....I need say no more.

Ann Breeden (65)
Thursday September 19, 2013, 2:55 pm
I, in all good conscience, couldn't be one of these Waltons. I would feel so bad knowing that I was making it miserable on men and women who work 2 jobs to put food on their childrens plates.
I couldn't be one of the lawyers either who work so tirelessly to keep this fortune in place. So I will just say that I find them soulless. And to think they call themselves Christians.

marie C (163)
Thursday September 19, 2013, 4:00 pm
Thanks for posting Dandelion

Deb E (63)
Thursday September 19, 2013, 7:25 pm
I think it should be illegal to have such huge profits while hiding money from paying taxes to a government of, by, and for many of the very people that the company is paying such low wages to so that the government is forced to give them government assistance. If a company makes enough money that the owners are amongst the wealthiest in the world, but their employees are forced to live near or in poverty, then that company should fined heavily and threatened to be banned from doing business in this country if it continues. Wally World wouldn't be what it is if people didn't shop there. I don't understand why these huge companies can't see that without the consumer, they are nothing, yet they continually poop in the consumer's face. I just wish people would quit shopping there. I haven't set foot in a Wally World for nearly 4 years and I haven't missed it one bit.

Charlene Rush (79)
Thursday September 19, 2013, 10:12 pm
I begrudge anyone from making as much money as possible.
Having said that, it goes with some restrictions and responsibility.

When Romney admitted to paying around 13% in taxes, why do some people, especially conservative, poor people, think this is O.K.? Citizens making much less than that are paying a higher percentage in many cases.
We, the people, must put a stop to this. Why is it permissible for the wealthy to be able to take deductions, that the average person has no way to imitate?
The tax laws were written by the wealthy for the wealthy.

Charlene Rush (79)
Thursday September 19, 2013, 10:13 pm
Sorry, I meant to say:

I DON'T begrudge.....................................................

Julian Robert Gonzalez (112)
Friday September 20, 2013, 6:46 pm
These people who violate human and workers rights should be losing not making money. Backwards world we live in.

Anne P (174)
Sunday September 22, 2013, 9:01 am
Boycott WalMart and Sam's Club!

Judith Hand (55)
Friday September 27, 2013, 4:13 pm
Noted, tweeted and emailed...I'm living in the poorest place I've ever lived, so this article is an especial crunch to my brain and conscience.....and there's another Koch brother? AAAAAAAAAAAAAAAAAAAAAArgh!
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