- Aug 4, 2009
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- #21
OP calls it "Personal Wealth". The article is Titled "Household Wealth" yet the article itself calls it "Net Worth" and attributes it to Stock Markets and Inflated Home prices due to the Fed's QE no doubt.
Here's what the OP conveniently left out in a rather transparent attempt to show Obama in the best possible light (as always):
1/5th plus 1/5th equals 2/5ths or 40%.But the wealth gains are flowing mainly to affluent Americans. Broad stock market averages have jumped more than 150% from their trough in the spring of 2009. But roughly 10% of households own about 80% of stocks.
Fed Chair Janet Yellen highlighted the dearth of assets for lower- and middle-income families in a speech Thursday. She noted that the bottom fifth of American households had a median net worth of just $6,400 in 2013. Many had no or negative net worth. The next fifth had a median net worth of just $27,900.
So 40% of Americans lives are suckin', the Rich get Richer and the OP thinks that's just great as long as there's a Black man in the White House.
Now we are talk'n
Nothing gets folks screaming for wealth redistribution like attributing that wealth to Obama
So we got $26 trillion in new wealth out there. Really can't claim the rich are hurting. Should we raise capital gains or income taxes first?