5. You know, it's not just the rich who are invested in the stock market.....
1) Lots of pension funds are heavily invested in the stock market. 2) I don't know the stats now but I suspect they haven't changed a lot -- as of 2000, about half of American households had stock investments. This is either via individual stock purchases/holdings and/or mutual funds. 3) Many people have at least part of their IRA's/401(k)'s in stock holdings.
It doesn't just affect the rich when this shit happens. Anyone remember Enron? Most of the rich walked away -- it was the hard-working everyday people who were totally fucked.
because I have stock holdings in my IRA. I'm far from rich but my modest house is paid for and my investments are smart enough I've actually been able to retire. I'm definitely one of the lucky ones but a lot of it comes from hard work & sticking to a budget. Silly Republican values all of those are!
10. Anyone who owns stocks in any form has to take the risk, though
The poor don't own stocks. If you're doing well enough to own them, it's a risk you choose to take. People don't have some inherent right that the stock market always go up (though over time, it generally does).
several million shares of that stock. They are taking the risk. Do you propose letting that investment evaporate along with the pensions of thousands of Union employees.
...they spend it on the local economy and help create and maintain jobs. That money doesn't go into a bank account or to buy a yacht, but it goes to help build a stronger community and then in turn helps the person who got the help with greater job and educational opportunities. Now how hard is that to understand? Well...unless you're a greedy bastard, then nothing matters but yourself.
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