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> Dissuading the wealthy from seeking office sounds like a feature, not a bug to me. Around 55% of Americans own stock.
by unmole 5y ago
> Dissuading the wealthy from seeking office sounds like a feature, not a bug to me.
Around 55% of Americans own stock.
- murphyslab 5y ago"The wealthiest 10% of Americans own a record 89% of all U.S. stocks" — CNBC https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-... If you aren't one of that "wealthiest 10%" it would not be difficult to divest your stock holdings in exchange for an index fund.
- PeterisP 5y agoI would presume that almost everyone qualified to be a federal judge to be among the wealthiest 10% - the median lawyer income is approximately 90-th percentile, and I would presume that the seniority and skills needed for such a position would disqualify most of the less experienced and/or weaker lawyers.
- DFHippie 5y agoIncome is not the same as wealth. They are correlated, but you're blurring lines. The wealthiest individuals accrue a negligible amount of their wealth from income. And the power law relationship between wealth and stock ownership doesn't end when you cross the 90th percentile either.
- mattficke 5y agoThat includes things like index funds. The vast majority of people do not own individual equities.