PERRspectives: Romney Will Put Walmart in the White House
"Even at a time of record income inequality, the lowest federal tax burden in 60 years and plummeting effective tax rates for the top one percent of earners, it is often difficult to put a face on the yawning chasm between the super-rich and everyone else. But now we have six. New data from the Federal Reserve reveal that the heirs of Walmart founders Sam and James "Bud" Walton now possess total wealth equivalent to 49 million American families, 42 percent of the total. As it turns out, that shocking number will grow much larger if Mitt Romney wins in November. After all, would-be President Romney not only wants to deliver another massive tax cut windfall for the wealthy, but wants to eliminate the estate tax altogether, a move that on paper would divert over $30 billion from the U.S. Treasury into the vaults of the Walton family."
