[Koapaka]

Interesting read.....



The wealthiest 10% of Americans own a record 89% of all U.S. stocks

[manaboutown]

We are losing our historically large middle class which is disheartening and destabilizing.

Coming Apart by Charles Murray: 9780307453433 | PenguinRandomHouse.com: Books

[billethkid]

The statistics on the top 1% and 10%, plus the other 90% haven't changed much over the years.

[manaboutown]

Gallup's measure of consumer stock ownership is based on a question asking respondents about any individual stocks they may own, as well as stocks included in a mutual fund or retirement savings account, like a 401(k) or IRA.

Stock ownership is strongly correlated with household income, formal education, age and race.
Stock ownership was more common from 2001 to 2008 when an average 62% of U.S. adults said they owned stock -- but it fell after the 2007-2009 recession and has not fully rebounded.

In 2021, the percentages owning stock range from highs of 89% of adults in households earning $100,000 or more and 84% of those with postgraduate education to lows of 24% of those in households earning less than $40,000 and 29% of Hispanic adults.

From: What Percentage of Americans Owns Stock?

The big stock market dive of 2006 had a lot to do with middle income folks leaving the stock market in droves. Many if not most have shied away aver since IMHO.

[collie1228]

That same group pays over 70% of federal income taxes too.

[manaboutown]

Originally Posted by collie1228

That same group pays over 70% of federal income taxes too.

The top 10 percent of earners bore responsibility for over 71 percent of all income taxes paid and the top 25 percent paid 87 percent of all income taxes.

From: Who Pays Income Taxes? - Foundation - National Taxpayers Union

[DAVES]

For most human issues there is a line to illustrate it. For statistics there are at least two good ones. Figures don't lie but liars an figure. Another one Figures don't lie but it you choke them hard enough you can make them say anything you want.

As far as the spread between the wealthy and the middle class, this is not just in the United States but a world wide phenomenon.

There are many reasons. In the US post WWII we were a manufacturing powerhouse.
Working in the auto industry, 80% of the worlds cars were made in the US. Working on an assembly line, due to unions would make you middle class. Today, much of that work is done in foreign countries and or robots.

Technology thief a common topic. When, you manufacture something. you can sell the same thing over and over again. You have trained labor, tools and factories. Technology is easy to reverse engineer. They are doing it, how can we copy it or even make it better.

As much as people bemoan what was, we cannot go backwards. We must see where we are and decide where we want to go.

Taxes and economics if we dare to see reality. If you tax something you will have less of it. If, you subsidize something you will have more of it. The most complex issue are truly simple if we dare to see them.

[Timothyimitchell]

I am very cautious in regard to the stock market today, and anything related to it.

[lkagele]

Originally Posted by manaboutown

The big stock market dive of 2006 had a lot to do with middle income folks leaving the stock market in droves. Many if not most have shied away aver since IMHO.

And they missed out on the wildest bull market ride in history. The Dow fell from 18,000 to 9,100 due to the recession. Investors that stayed in or got back in after the Dow bottomed have seen the Dow go from 9,100 to over 35,000. Mostly fueled by the Federal Reserve monetary policy so I'm sure everything is under control......

[jdulej]

Originally Posted by manaboutown

The top 10 percent of earners bore responsibility for over 71 percent of all income taxes paid and the top 25 percent paid 87 percent of all income taxes.

From: Who Pays Income Taxes? - Foundation - National Taxpayers Union

Wow, now I really feel bad for the rich. All the money they spend buying politicians and influence, and they still get screwed over on taxes. They are either very unlucky or very stupid.

[manaboutown]

Originally Posted by lkagele

And they missed out on the wildest bull market ride in history. The Dow fell from 18,000 to 9,100 due to the recession. Investors that stayed in or got back in after the Dow bottomed have seen the Dow go from 9,100 to over 35,000. Mostly fueled by the Federal Reserve monetary policy so I'm sure everything is under control......

I agree.

Back in the early seventies I had a wise boss who when the market sank advised me to invest. I had only a few spare dollars but I did so. I am very grateful to him.

Also I hung on in 2006, took on new positions and added to what I had. It has paid off big time.

[manaboutown]

Originally Posted by jdulej

Wow, now I really feel bad for the rich. All the money they spend buying politicians and influence, and they still get screwed over on taxes. They are either very unlucky or very stupid.

I too feel sorry for "the rich" because most of them have worked hard all their lives to create wealth while so many parasites, millstones, deadbeats and other forms of low life and cheats sit on their butts and immorally bleed them via confiscatory taxes misused and wasted to fund various types of ill-conceived welfare.

[jdulej]

Originally Posted by manaboutown

I too feel sorry for "the rich" because most of them have worked hard all their lives to create wealth while so many parasites, millstones, deadbeats and other forms of low life and cheats sit on their butts and immorally bleed them via confiscatory taxes misused and wasted to fund various types of ill-conceived welfare.

I wouldn’t lose any sleep over it. They don’t.

[Caymus]

Originally Posted by jdulej

Wow, now I really feel bad for the rich. All the money they spend buying politicians and influence, and they still get screwed over on taxes. They are either very unlucky or very stupid.

Some people would consider anybody able to afford a home in The Villages rich.

[manaboutown]

Originally Posted by jdulej

I wouldn’t lose any sleep over it. They don’t.

Of course they lose sleep over it. Why wouldn't they? They have been and continue to be forced to support multiple generations worthless shiftless cheats.