>> They are; well, in accounts holding US treasury bonds.
You are, as usual, wrong.
While they no doubt hold some treasuries, the Walton money is primarily held by Walton Enterprises, LLC, which invests in a large number of businesses -- from banks and newspapers to real estate. They own outright ARVEST banks which has about 220 offices, lending money to consumers and businesses, as well as mortgage operations, etc. While no one knows what all businesses they're involved in they undoubtedly employ many thousands of people who create productivity and spend their earnings.
Then, of course, there is the foundation, which contributes close to a half billion a year to k-12 education, conservation, and other worthwhile causes. That excludes the billion they've spent building, operating, and buying artwork for one of the best art museums in the country.
Most people with real wealth don't sit on it; they invest it in productive activities.
Buffett, himself, flatly stated that he prefers to have Bill Gates spend his money over the government because Gates can do a better job than government can. (Buffett recommends only us little guys let government spend OUR money). And Buffett, for all his bluster, has done everything humanly possible to avoid the REAL tax, the death tax (the income tax he barks about is a pittance for him; the death tax, OTOH, is enough to kill you). |
