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I wonder how much of the "1%"'s wealth is in stock. My guess is most of it, at least in the United States. If you think that's a problem, and most of this wea
by curtis 9y ago
I wonder how much of the "1%"'s wealth is in stock. My guess is most of it, at least in the United States. If you think that's a problem, and most of this wealth is in the stock market, then that may be a good argument for increasing the tax on capital gains. I don't expect that to happen anytime soon, though.
- dopamean 9y agoI think that is mostly it.
- skookumchuck 9y agoSince anyone can participate in the stock market for $100, anyone can get a piece of that action.
- horsemoney 9y agoIf you really take the 1% (not just those billionaires) then a lot of that is IRAs (which are stocks and bonds) as well as personal real estate. If you have an IRA plus a house worth a million bucks combined, congratulations, you're in the 1%. By the way, it's nonsense to think that those 1% control that wealth. They'll be lucky to save more than half of it when the next stock market correction is coming in, or when the Fed prints the value of long-term bonds into oblivion. Yeah, maybe they get to vote on some shareholder meeting, or they get to shoot trespassers on their lawn, that's their level of control.