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- #21
You are talking about what has happened to our poor country under Reagan tax rates of giveaway to the rich. The worst inequality and upward mobility ever anywhere is no coincidence. Brainwashed functional moron. The final solution is fair capitalism with a good safety net like they have and every other modern country. We are the richest country in the world and we screw over everyone but the rich. You are the chump of the greedy idiot brainwashing GOP mega rich.
"...our poor country under Reagan tax rates of giveaway to the rich..."
The usual nonsense one sees from whining Marxists.
While the ranks of the wealthy quickly multiplied, middle-class investors also entered the stock market in rapidly growing numbers. The creation by Congress in 1978 of the 401(k) tax-deferred retirement plan provided new incentives for workers to invest their savings in the stock market (often through mutual funds) rather than relying on company-funded pensions for retirement. The 401(k) led to a kind of democratization of Wall Street, as the percentage of American households owning some stake in the stock market—either directly or through mutual funds—shot quickly from 15.9% in 1983 to 29.6% in 1989.23 Thus the great bull market of the 1980s created more wealth, for more American families, than any previous boom in history.
Investment Company Institute, "Equity Ownership in America, 2005," http://www.ici.org/pdf/rpt_05_equity_owners.pdf,
Yup.....finest President is a century.