S&P sets records

[Gaius]

@Eagle-Keeper

@Gaius

@Eagle-Keeper

I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

Caution.

While there is a lot of wealth disparity in the US and elsewhere,
but that number and that article are full of crap.

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

You make very good points. I do not wish to detract from them.

What I wish to avoid is the false mindset that the stock market is about rich people and rich families.

Here is a useful way of thinking:
1.) When an article tells you “the wealthiest 10% own 97% of the stocks” we must first divide that stock ownerhip in half. Half of all stocks are not even owned by families they are owned in the fomr of univerity endowments, endowments of non-prfit hosptials, insurance companies etc…—> RESULT: The wealhtiest 10% of households own closer to 47.5% of stock

2.) When an article tells you “the wealthiest 10% own 97% of the stocks” we must also consider that half of all americans don’t own any stocks (or much of anything) —> Combining the two: Of Americans who own stocks at all, the wealthiest 20% own 47.5% of the stock market.

3.) Even those numbers are baed on households. Given america’s high rate of divorce/single-parenting we must also consider single-earner vs two-earner households.