The Wealthiest 10% of Americans Own A Record 89% of All U.S. Stocks *

[Mainecat]

The Wealthiest 10% of Americans Own A Record 89% of All U.S. Stocks *

 CNBC, Oct. 18, 2021. - Ed. 

KEY POINTS: 

- The wealthiest 10% of American households now own 89% of all U.S. stocks, a record high that highlights the stock market’s role in increasing wealth inequality. 

- The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve. 

- The bottom 90% of Americans held about 11% of stocks, and added $1.2 trillion in wealth during the Covid-19 pandemic. 
------ 
The wealthiest 10% of Americans now own 89% of all U.S. stocks held by households, a record high that highlights the stock market’s role in increasing wealth inequality. The top 1% gained more than $6.5 trillion in corporate equities & mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest Federal Reserve data. The share of corporate equities & mutual funds owned by the top 10% reached the record high in the 2nd quarter, while the bottom 90% of Americans held about 11% of individually held stocks, down from 12% before the pandemic. 

* The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic — as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half — one of the fastest wealth booms in recent history — came from stocks. 

“The top 1% own a lot of stock, the rest of us own a little,” said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center. 

The growing concentration of wealth comes despite millions of new investors coming into the stock market for the first time during the pandemic, leading to what many have labeled “the democratization” of stocks. Robinhood added more than 10 million new accounts over the past two years and now has over 22 million — many of them held by younger, first-time investors. 

* Yet while the market may be owned more broadly, the gains and wealth it creates are not being more widely distributed. 

Rosenthal said that while the army of new investors may be numerous, they are also still small, with the average account size at Robinhood at about $4,500. When markets rise, they will have far smaller dollar gains than wealthier investors with hundreds of thousands or even millions in stock holdings. Many of the younger investors also bought in at higher prices, compared to bigger investors who have been in the market for years and see larger gains”... 

https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html 

[Stephen Hawking]

Wow, wealthy people can afford to buy more stock. Who knew?

[Angry ginger]

 they are smart enough to invest their money rather than blow it.  I am in that group because i made saving a priority from the time i started working.   

 

Regardless of the intervention the government tries half the country will always be dirt poor.  

[ActionfigureJoe]

24 minutes ago, Angry ginger said:

 they are smart enough to invest their money rather than blow it.  I am in that group because i made saving a priority from the time i started working.   

 

Regardless of the intervention the government tries half the country will always be dirt poor.  

As Jordon Peterson points out, 26% of Americans have an iq below 90. This is an issue that’s not going away. It may, in fact, be more troubling than the people on top of the economic scale. 

[Crnr2Crnr]

36 minutes ago, Stephen Hawking said:

Wow, wealthy people can afford to buy more stock. Who knew?

They also own a little land too.

[Crnr2Crnr]

9 minutes ago, ActionfigureJoe said:

As Jordon Peterson points out, 26% of Americans have an iq below 90. This is an issue that’s not going away. It may, in fact, be more troubling than the people on top of the economic scale. 

and their vote counts just the same as yours 

hence, president Trump 

 

[Ez ryder]

And the top 1% pay 40% of the federal income tax so what's your point 

[Guest]

1 hour ago, Angry ginger said:

 they are smart enough to invest their money rather than blow it.  I am in that group because i made saving a priority from the time i started working.   

 

Regardless of the intervention the government tries half the country will always be dirt poor.  

[Rigid1]

1 hour ago, Angry ginger said:

 they are smart enough to invest their money rather than blow it.  I am in that group because i made saving a priority from the time i started working.   

 

Regardless of the intervention the government tries half the country will always be dirt poor.  

I have to say my daughter just got her first real job this summer, and she is a little saver! Makes me happy to see how she is with her money

[Zambroski]

1 hour ago, Angry ginger said:

 they are smart enough to invest their money rather than blow it.  I am in that group because i made saving a priority from the time i started working.   

 

Regardless of the intervention the government tries half the country will always be dirt poor.  

Bingo.

1 hour ago, ActionfigureJoe said:

As Jordon Peterson points out, 26% of Americans have an iq below 90. This is an issue that’s not going away. It may, in fact, be more troubling than the people on top of the economic scale. 

Those numbers seem generous. 

[steve from amherst]

1 hour ago, ActionfigureJoe said:

As Jordon Peterson points out, 26% of Americans have an iq below 90. This is an issue that’s not going away. It may, in fact, be more troubling than the people on top of the economic scale. 

And as the gvmt gives more money to dumb motherfuckers , they will continue to breed and the problem will just get worse. 

[CFM]

1 hour ago, Crnr2Crnr said:

and their vote counts just the same as yours 

hence, president Trump 

 

You two(corner2corner liked the post)  just showed alot of the liberal issues.

Guess you’ll never get it.

[Mainecat]

It’s what controls Congress and the republicans. Look at corporate taxes. The pubs won’t budge. 

[Guest]

5 minutes ago, steve from amherst said:

And as the gvmt gives more money to dumb motherfuckers , they will continue to breed and the problem will just get worse. 

Johnny Carson Show, 1960s. Dr. Paul Erlich ranting about over-population. 

In the ensuing 60 years, I've never heard ONE PERSON MENTION IT AGAIN. 

[Crnr2Crnr]

7 minutes ago, CFM said:

You two(corner2corner liked the post)  just showed alot of the liberal issues.

Guess you’ll never get it.

Why?

I didn't vote for your retard or his retard. 

[Ez ryder]

11 minutes ago, Mainecat said:

It’s what controls Congress and the republicans. Look at corporate taxes. The pubs won’t budge. 

Why should they ? Do you think having the highest corporate tax burden in the world will some how help the American worker ? Lol I take that back I am sure you do 

[ActionfigureJoe]

55 minutes ago, Zambroski said:

Bingo.

Those numbers seem generous. 

After spending time here, I agree. 

[BOHICA]

Well no shit Sherlock…. What do you expect to happen when you trickle on the entire US population with stimulus checks and free money???  They run and give it to the rich and in turn the rich give them the latest iPhone and big screen tv and then the rich invest that money given to them in the stock market!  This Democrat infrastructure bills and social spending bill is going to be a big boon to the rich.

Edited October 20, 2021 by BOHICA

[Mainecat]

4 minutes ago, BOHICA said:

Well no shit Sherlock…. What do you expect to happen when you trickle on the entire US population with stimulus checks and free money???  They run and give it to the rich and in turn it he rich give them the latest iPhone and big screen tv and then the rich invest that money given to them in the stock market!  This Democrat infrastructure bills and social spending bill is going to be a big boon to the rich.

Tell that to the republicans in congress. The countries infrastructure is falling apart……and oh yeah corporate America benefits from it too.

Edited October 20, 2021 by Mainecat

[BOHICA]

6 minutes ago, Mainecat said:

Tell that to the republicans in congress. The countries infrastructure is falling apart……and oh yeah corporate America benefits from it too.

Democrats control it all.  Congress sets the budgets.  Democrats numbers have enough to pass it without a single Republican.

 

infrastructure is paid for mostly through user fees, forms of taxes and such.  It’s already been paid to upgrade and the fees and taxes will still be charged going forward.  You know who gets those fees????  The rich.  You know who will get the trillions the Democrats want to spend?  The rich!!!  Nobody else will get it.   The rich will have a huge influx of cash to the tune of trillions hit their portfolios

Edited October 20, 2021 by BOHICA

[jtssrx]

2 hours ago, ActionfigureJoe said:

As Jordon Peterson points out, 26% of Americans have an iq below 90. This is an issue that’s not going away. It may, in fact, be more troubling than the people on top of the economic scale. 

You MC jimmy moto and a few others are in the 90 or less category 

[Zambroski]

43 minutes ago, ActionfigureJoe said:

After spending time here, I agree. 

Because your human contacts in the real world are of top intellect?

[teamgreen02]

It would be great for more people to understand investing and own stocks.  It really isn't as complicated as many think it is.

A combined total of 15.3% of a workers wages are paid into FICA taxes.  Just think if workers could take a portion of that and invest it outside of social security.  Instead, politicians have shut down any discussion of privatizing social security which disproportionately affects the poor.

FICA Tax Rates
Both employees and employers pay FICA taxes at the same rate. FICA taxes are divided into two parts: Social Security tax and Medicare tax. The Social Security tax rate is 6.2% of wages for 2021, and the Medicare tax rate is 1.45% of wages. Together, these make up a tax rate of 7.65% for FICA taxes. If you're self-employed, you'll need to pay for both the employee's and the employer's portion of FICA taxes, which is 15.3% of earnings.

[EvilBird]

3 hours ago, Crnr2Crnr said:

and their vote counts just the same as yours 

hence, president Biden

 

*fixed 

[ActionfigureJoe]

15 minutes ago, Zambroski said:

Because your human contacts in the real world are of top intellect?

Come on. Evil bird and Jt. I mean it's pretty obvious.