I got to thinking about some of my small-town neighbors when I read that the Denver Broncos football team, which is just starting its new season, was sold for $4.6 billion.

The principal new owners are Walmart heir Rob Walton and his daughter and her husband. Their ownership group also includes Condoleezza Rice, former secretary of state and now a board member of the hedge fund Makena Capital Management; Mellody Hobson, chair of the board of Starbucks and a director at JP Morgan Chase; and Lewis Hamilton, a race car driver worth an estimated $285 million. The Walton heirs are the world’s richest family, with net worth of more than $200 billion.

(2) comments

Nancy Wood

Yes indeed. Thank you for this excellent piece.

N. Wood

Tobin Clark

I must agree with the greatest capitalist in the history of mankind, Warren Buffet, who said he never met a man who would not get up and go to work on the morning because his taxes were too high. This nation needs to tax, tax, tax the wealthy and then then tax them some more. Yes, I’m talking wealth redistribution. Most Americans have no idea of the $trillions of wealth in this country that goes untaxed or taxed at an absurdly low rate. They are protected by PACs, politicians, archaic tax laws and outright tax cheating. Some of course, take their obligations to society seriously and you won’t hear them complaining about taxes. But so many think it is their god given right, just part of god’s plan, for them to pay little or no taxes.

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