Home > Uncategorized > Walmart Heiress Alice Walton’s Efforts to Undermine Public Education Exemplify All That is Wrong with Tax Laws

Walmart Heiress Alice Walton’s Efforts to Undermine Public Education Exemplify All That is Wrong with Tax Laws

October 27, 2018

A few days ago I met with my financial consultant to discuss how to make the best use of my IRAs in the coming years. In the course of our conversation he noted wryly that I would not have to worry about my children having to pay inheritance taxes since I the passage of “tax reform” means that I could pass along somewhere over $22,000,000 to my children without them having to pay taxes. Needless to say, that is no where near what I have in my IRAs…

But Alice Walton’s father passed along a lot more of his fortune to her, and, as blogger-researcher Mercedes Schneider reports, she is using that fortune to undercut public education in 15 states and counting… and that doesn’t count the donations to ALEC, Americans for Prosperity and a host of other anti-government organizations. If she were the only “investor” doing this it would not be a problem, but several other billionaires have joined her and as a result those of us who are ardent supporters of democratically governed public schools feel threatened…. and many feel that our entire democracy is under siege from the billionaires who can spend a minuscule amount of their fortunes to dictate the direction our nation is headed.

Like her fellow heir, President Trump, Ms. Walton pays the taxes she is legally required to pay…. and like Mr. Trump she is disdainful of any legislation that would compel her to pay more knowing that the money would be “squandered”….

 

 

Advertisements
%d bloggers like this: