November 30, 2013

Six of the Top Ten US Billionaires Are Kochs and Waltons

Six of the Top Ten US Billionaires Are Kochs and Waltons
"The problem is, of course, not just economics. It’s the way that economics interacts with politics. The Koch brothers have poured some of their combined $72 billion in wealth into conservative and tea party politicians at the governor and state legislature levels.In addition, our economy is marked by stagnating wages, which have sunk to poverty levels for millions of workers. The key driver of our low-wage economy is Walmart, with its 11,000 stores worldwide that pay so little that many of its workers get by on food stamps. The four main heirs to Walmart’s founder, Sam Walton, rank numbers six, seven, eight, and nine on the billionaires list. Three sit on the Walmart board, including Rob Walton, the board chair. (Other U.S. billionaires have made their fortunes in destructive Wall Street financial firms and through the generous government handouts of what President Eisenhower called "the military-industrial complex.")
And, they’ve financed a number of ultra-conservative state ballot initiatives. Scott Walker, for example, the Republican governor of Wisconsin, who gutted the state’s labor laws, is a major Koch client."