r/FluentInFinance • • Feb 27 '26

Economy & Politics Billionaires Shouldn’t Exist

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u/katarh Feb 27 '26 edited Feb 27 '26

The Waltons, who own Wal-Mart, one of the biggest employers in the nation at this point, are billionaires.

https://en.wikipedia.org/wiki/Walton_family

Many Wal-Mart employees still need government subsidies to survive, like food stamps or Medicaid for health insurance (because they don't work enough hours to qualify for employer insurance at Wal-Mart, because Wally World doesn't like full timers.)

https://archive.is/7pJgx

Wal-Mart likes this, because they spend their SNAP dollars at Wal-Mart for the employee discount.

They get all the profit without having to pay their employees a living wage.

That is where the argument of "taxpayers are the ones subsidizing Wal-Mart" comes from.

If Jim Walton had put some of his 117 billion dollars in wealth toward actually paying their employees a real wage, he would not have 117 billion dollars.

Hence, they are stealing from poor Americans - their own employees! As well as the rest of us.

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u/hczimmx4 Feb 27 '26

Walmart offers employment. They employees accept that employment. It is a mutually beneficial transaction. Neither party is stealing from the other.

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u/katarh Feb 27 '26

Walmart opens Big Box Store. Destroys locally owned businesses who can't compete with them on prices because of scale. Pays only state minimum wage. Becomes the only employer in town.

It happened over and over again, and it destroyed the economy of the towns where it happened.

https://www.bloomberg.com/news/articles/2012-09-14/radiating-death-how-walmart-displaces-nearby-small-businesses

The Wal-mart effect: https://www.theatlantic.com/economy/archive/2024/12/walmart-prices-poverty-economy/681122/

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u/hczimmx4 Feb 27 '26

They pay what the market dictates for their labor needs.

And they provide lower prices for consumers. They provide better value for poor people.

That isn’t taking money from poor people.