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> Almost every member of "labor" has some form of pension, 401(k), IRA, or personal stock holding Citation needed. I believe "almost every" is pure hyperbole

> Almost every member of "labor" has some form of pension, 401(k), IRA, or personal stock holding Citation needed. I believe "almost every" is pure hyperbole. A quick search found a poll indicating 52% of Americans own stock. http://www.gallup.com/poll/190883/half-americans-own-stocks-matching-record-low.aspx http://www.gallup.com/poll/190883/half-americans-own-stocks-... If you have better information, I'd like to see it, please.

eldavido 9y ago
Without a citation, that seems right, in the narrowest sense of "owning single shares in a company". Keep in mind that "owning stock" isn't well-defined though, that could mean (a) own individual shares (narrowest), (b) owns shares or ETFs (broader), (c) owns mutual funds. But that still doesn't address my point. It's a lot bigger when both private sector, and public, pensions are included. This issue is near and dear to my heart because I grew up in Illinois (now living in California) and am watching the budget battle unfold there. They have a huge pension funding gap, and the returns of the stock market are going to have a very direct, real effect on how much tax the state has to collect to fund the pensions.
- arcbyte 9y ago
  Born, raised, and living in Illinois and I'm seriously looking at leaving the land of Lincoln. Chicago is ruining this state.
  - tomjakubowski 9y ago
    I was born and raised in Illinois too, but live in California now. Mind explaining how the third-largest metro economy in the country is ruining our state?
    - Tettrox 9y ago
      How about having a massive murder rate? Having a great train system is great, but it's not exactly something to brag about and definitely something someone is going to overlook the murder rate for.
      - throwaway91111 9y ago
        How is the murder rate in chicago ruining the state?
vadym909 9y ago
and if you look at half the workforce at these companies,Labor- the ones not making 6 figures- like couriers, personal shoppers, cafeteria workers, content reviewers, helpdesk, customer support, admins, security- they are contractors that don't get 401k, IRA and live hand-to-mouth and always precariously poised to be fired anyday. They can't afford, can't buy and never benefit from stock price increases.

eldavido 9y ago

Without a citation, that seems right, in the narrowest sense of "owning single shares in a company". Keep in mind that "owning stock" isn't well-defined though, that could mean (a) own individual shares (narrowest), (b) owns shares or ETFs (broader), (c) owns mutual funds. But that still doesn't address my point. It's a lot bigger when both private sector, and public, pensions are included. This issue is near and dear to my heart because I grew up in Illinois (now living in California) and am watching the budget battle unfold there. They have a huge pension funding gap, and the returns of the stock market are going to have a very direct, real effect on how much tax the state has to collect to fund the pensions.

arcbyte 9y ago
Born, raised, and living in Illinois and I'm seriously looking at leaving the land of Lincoln. Chicago is ruining this state.
- tomjakubowski 9y ago
  I was born and raised in Illinois too, but live in California now. Mind explaining how the third-largest metro economy in the country is ruining our state?
  - Tettrox 9y ago
    How about having a massive murder rate? Having a great train system is great, but it's not exactly something to brag about and definitely something someone is going to overlook the murder rate for.
    - throwaway91111 9y ago
      How is the murder rate in chicago ruining the state?

vadym909 9y ago

and if you look at half the workforce at these companies,Labor- the ones not making 6 figures- like couriers, personal shoppers, cafeteria workers, content reviewers, helpdesk, customer support, admins, security- they are contractors that don't get 401k, IRA and live hand-to-mouth and always precariously poised to be fired anyday. They can't afford, can't buy and never benefit from stock price increases.