Observations on life

It’s ridiculous that the Walton family is now worth $150 billion

  

Ridicules you say, why is it ridicules? Is it ridicules Gates is worth $75 billion?

This wealth is largely in investments, mostly in the equity in businesses. Businesses that created jobs around the world, lowered prices for consumers, delivered goods and services that past generations could not even comprehend, and in some cases changed the world. 

In addition, while some of these billionaires and multi-millionaires may be selfish, greedy SOBs, most are generous by supporting a wide array of causes and institutions that many of us enjoy and don’t even realize it. And when they do, it is far more efficient than filtering the money through a federal bureaucracy. 

Sanders type rhetoric only breeds envy and class warfare. Did the success of Walmart and the growth in value of its stock take anything from you or inhibit your opportunities in any way?  Did the success of Microsoft reduce your slice of the economic pie? More likely it created new opportunities. 

If you were lucky enough or savy enough to invest in a new stock (perhaps Berkshire Hathaway) decades ago and now years later had accumulated several million dollars, is that ridicules?  In March 1980 Berkshire Hathaway stock was $290 a share today it is $211,600 a share. 

You could have bought Ford for $1.31 a share on November 20, 2008 and sold it for $15.00 last year. If you had taken the risk with your life savings, and your retirement savings and bought all you could at $1.31 and made a pile of money is that ridicules? What did you do to earn it except take a big risk? 

That’s how people get wealthy‼️. There is nothing ridicules about it. And nothing new by the way. George Washington was among, if not,  the richest man in the Colonies. 

We may all have a bit of envy for the billionaires, millionaires or even lottery winners, but that does not mean they have taken anything from us to achieve their success does it? 

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4 replies »

  1. B.S. is so full of bullshit, I cannot believe people are voting for him. The Federal government takes in 3.8 Trillion each year and borrows another 500 billion to 1 trillion and B.S. is concerned about a family that grew a company from nothing in 1962 to a worldwide leader in retail sales. Providing 2,200,000 jobs that allow people to pay taxes and support their families. When was the last time B.S. provided anything of value to the U.S. economy, never has never will. The 150 billion that the Walton’s have is quite small compared to the money the Federal government wastes every year.

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  2. How many people have made unsuccessful investments? I know I lost over $3k on a mutual fund during the tech bubble during the late 90s. When they are going after the billionaires they never mention the hundreds thousands of investors take a chance and loose money. They only go after the people who had the faith and the vision to risk it all and they are rewarded. That is not wrong.

    What if they go after every lottery winner? They did nothing to earn the few million dollars in the power ball. Why is that different?

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  3. True, there are many millionaires, etc, who have come by the money honestly, It isn’t fair to equate all the rich with criminal activity or with exploitation of the weak.

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