What percentage of stocks is owned by the wealthiest 10%?
I would imagine a lot, but that's what you would expect. How else does one become wealthy unless they have more than the non-wealthy?
Are you changing the subject? Here's your statement, which I say is inaccurate.
On the other hand, cutting rates on investment income, as the congress is in the process of doing at the moment, certainly does little for anyone but the very wealthy.
If half of all households directly or via funds/plans own stock, cutting rates on investment income will help at least half of all households. Those who own more stock of course benefit more than those who own less, but they all benefit.
Hmmm.......below is the article you posted to me in March. The article suggests that most Americans do not have stocks or mutual funds. In fact, less then half....49%.....even have any sort of retirement account and that most Americans are in debt up to their eyeballs. In other words, JF is correct......its the wealthiest in this country who will stand to benefit.
Of course, this article could be wrong but then that begs the question: do you often post articles you don't believe are true?
Meet the typical American family.
It has about $3,800 in the bank. No one has a retirement account, and the neighbors who do only have about $35,000 in theirs. Mutual funds? Stocks? Bonds? Nope. The house is worth $160,000, but the family owes $95,000 on it to the bank. The breadwinners make more than $43,000 a year but can't manage to pay off a $2,200 credit card balance...
washingtonpost.com
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