This is empirically not true when you look at the data on who owns financial assets in America. The "average person" owns essentially no financial assets. The m

This is empirically not true when you look at the data on who owns financial assets in America. The "average person" owns essentially no financial assets. The median person especially owns approaching zero financial assets. The top 10% and then again the top 1% own a drastically disproportionate share. The one exception is Pensions and 401ks but this does not even come close to skewing the math in terms of "normal people" owning a significant portion of financial assets. All US pensions and 401ks combined have a total value of something like 10T. And that's before the fact that a huge value of the 401ks are still held by the top %s. And that's aside from the fact that a lot of US pensions are in deep deep shit right now and may never pay out even close to face value on their obligations as denominated in 2023 dollars.