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Those 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 g
by DamnYuppie 6y ago
Those 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.