Robert ReichThe top 10% of richest Americans own 87% of stocks.
The top 1% alone own roughly half of all stocks.
It's worth pointing out once again that the stock market is not the economy.
John Francis@rbreich what about bonds? The equities market is tiny compared to credit markets. The bond markets receive mind boggling govt subsidy, the risk-free non-zero-returns floor set in the market by govt bonds...so the 1% can get income, just for having money.
TC Won't Give In To Lies@rbreich
...one more reason capital gains should be taxed at ordinary rates
...one more reason capital gains should be taxed at ordinary rates
Sergey Shandar@TCatInReality @rbreich including social security tax. Also, social security tax should have no cap.
Bc Clarity Carlton-Martin@rbreich For some not all
stux⚡@rbreich What about something like..
The .% of the total population owns ..% of the total wealth
"wealth distribution pyramid in 2020 shows that the richest group of adult population (1.1%) owns 45.8% of the total wealth"
Communism is totally not an option but capitalism as is failed drastically
Lawrence Of Alaska@rbreich yeah and the 401k is way better than a pension
Carrie ✌🏻🫀🤟🏻@alaskacacher plus aren't the rich people just making money off that 401k?
freediverx
Zilla@rbreich I agree the stock market is not the economy and the top 1% should remember the lesson from 1929 . A crisis they created.
🔶Mark Nicoll 3.5%🏴🇬🇧🇪🇺🇺🇳
U.Lancier@rbreich It is the same with ownership of fertile land and other natural resources.
A land fit for all our futures@rbreich politicians will complain about workers striking, all the time being absolutely hostage to the threat of #CapitalStrike
embracetheruin@rbreich i wonder what percentage owns %99 percent of the stock market
xs4me2Change is needed…
@rbreich you know back in the 80s the people owned 80% of the stock market... that's when things were a bit easier for people financially and that's how it is supposed to be
floydgump
Doug Delamatter@rbreich Based on the popularity of day-trading (especially during the pandemic) it's become just another casino.
50 yrs ago, when a company laid off employees, the stock dropped because it was facing problems.
Now, the stock soars as shareholders predict that the saved wages will make them richer.
#Sigh
50 yrs ago, when a company laid off employees, the stock dropped because it was facing problems.
Now, the stock soars as shareholders predict that the saved wages will make them richer.
#Sigh
SaanichGuy 🇨🇦🇨🇦
Mx. Luna Corbden@rbreich Another way of putting it is that the 10% richest is called “the house,” as in, “the house always wins.”
SammyGalen@rbreich Thank you! Yes! Indeedio! A minimum wage worker (80$ of workers out there after the Reagan economy reformation on the nation) does not care about how their favorite CEO can't make his multi-million dollar retirement package after he ruined his company!
Truth ✓