Trump brags about the stock market but most people don’t benefit from it. Trump wants to cut taxes on capital gains which would benefit the wealthy.
To repeat:
— Carl Quintanilla (@carlquintanilla) August 24, 2020
The top 10% of earners own 87% of all U.S. stocks. https://t.co/JizWy97mho
Your reminder that the richest 1 percent own half of the stock market, and the richest 10 percent own almost all (92 percent) of it.
— Robert Reich (@RBReich) August 24, 2020
So when Trump brags about the stock market, he's not talking about the economy that 90 percent of Americans inhabit.
One really encouraging thing about the past few days is that nobody seems to care about the stock market hitting new highs. Good judgment! The stock market is not the economy. Still, is there a puzzle here? Less than you might imagine 1/
— Paul Krugman (@paulkrugman) August 19, 2020
1) Almost half of Americans don’t own stocks
— Andrew Weinstein (@Weinsteinlaw) August 11, 2020
2) 10% of Americans own 86% of all stocks
3) The stock market is not the economy
4) The deficit is exploding
5) 1 in 6 Americans can’t find work
6) 84 days until we beat you https://t.co/8yM2JNAa1l
Deere sales are down 25%. Yet it's making a $2.25 billion profit this year by doing mass job cuts.
— Dan Price (@DanPriceSeattle) August 24, 2020
Companies everywhere are doing this, which is how the stock market booms amid lower revenues.
Remember which companies valued profits over humanshttps://t.co/vP1tlQfGC5
Sad! 