3 ms·
Wellfare for the rich.
by frongpik 6y ago
Wellfare for the rich.
- cozzyd 6y agoand people with retirement plans?
- zarkov99 6y ago50% of americans own stock. You will have to look for some other thing to identify the evil rich.
- deleted 6y ago[deleted]
- BoiledCabbage 6y agoAre arguing that the majority of those gains didn't go to the wealthy?
- DamnYuppie 6y agoThose gains went to people who owned stock. Public pensions are worth more than twice as much as all the billionaires in the US combined. 401k balances also grew greatly.
- BoiledCabbage 6y agoThe top 10% of income earners own almost 90% of the value of the stock market. While we can debate the exact number, the US just spent some number of trillions to prop up the stock market. Meaning we spent multiple trillions where almost 90% of the gains went to the top 10% who likely did not need it. The people who gained the most from propping up the stock market are the top 10% of the country, and it cost the country a lot of future money and tax obligation to give them that benefit.
- frongpik 6y agoThe bottom 50% owns nothing (paycheck to paycheck lifestyle), the top 1% owns 50% (so they get half of the total sp500 growth while contributing nothing to society) and the middle 49% own the rest 50% (but their wealth would evaporate rapidly should they stop working). I think this is a more accurate picture of wealth distribution.