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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
by 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 agoBorn, raised, and living in Illinois and I'm seriously looking at leaving the land of Lincoln. Chicago is ruining this state.
- tomjakubowski 9y agoI 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 agoHow 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 agoHow is the murder rate in chicago ruining the state?