Playground for billionaires? Working families barely hanging on by their fingernails?
The stock market is the source of wealth and financial security for every American with a pension, 401k, IRA or other retirement savings. Stocks and bonds provide income in the form of dividends and interest to millions of “working”, and retired families.
Who is buying all the pickup trucks that are being sold and keeping non-necessity businesses running?
Exactly what is a working family? Is it poor, middle income, lower income? By not defining and using generalizations politicians are able to propagandize and leave it to the imagination of the listener.
Many working families, say craft or industrial workers are doing quite well…if they have not lost a job or had earnings cut. Take millions of government workers, they are doing fine even getting a raise.
And that’s the point. Focus on those in need, give assistance to those who require it. Rather politicians thrive on broad generalizations and spreading the (somebody else’s) wealth. Another $1,400 without regard to need. $2,000 a month for every American for the duration of the pandemic and beyond.
And no, it’s not stimulating anything. It’s either being spent on already committed obligations, paying existing debt or saved.
Once they get on a theme it goes on and on.
When 90% of what I hear out of the corrupt political elite sounds dumb, I wonder how these college educated folks ever completed 4 years of higher education.
“And no, it’s not stimulating anything. It’s either being spent on already committed obligations, paying existing debt or saved.”
I disagree, my extended family is stimulating their local economy. With new purchases of appliances and needed repairs on motorcycle, cars, homes without having to go further into debt. But the price we will all pay in the future is a lower standard of living in the long run.
We are already seeing higher gasoline prices, higher home prices, higher car prices and I believe one of the drivers for all of it is the extra trillions of dollars that the governments and central bankers around the world have pumped into the world economy.
One of the biggest drivers of any families economic insecurity is too much debt. You cannot save for retirement, higher education for children or grand children or any other need or want if you have credit card debt at 25%.
We need to teach everyone about the difference between a need and a want and to save for what you want, then you might just have enough to cover all your needs. Don’t just pull out the plastic just because you can make the minimum payment each month. Until we educate people about the true cost of debt, we will continue to see over 60% of households cannot afford to pay cash for a $500 emergency.
I am glad at age 65 I have zero credit card debt, and that my 4 children age 30, 36, 40 and 42 have zero credit card debt. We all get cash back just for using our credit cards, paying off the statement balances each month. In 2020 I was paid $400 cash back on purchases of food, clothing, travel, utilities, insurance, and car repairs. Having no credit card debt has allowed me the ability to travel 5,000 miles since Sept 2, 2020 to visit friends and family in OR CA OK TX NC VA AL and spend the winter in GA with my 2 grandsons age 5 and 8. Retirement life is great, no matter what the government and media propaganda machine says.
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And this is the trouble with conservatives. Sermonizing. Telling people to live their lives more like you do never works. Yet they keep doing it, over and over.
An interesting point. Everyone should live as they wish, hopefully responsibly to the extent their choices do not shift burden of their decisions to society as a whole thereby taking from others trying to live their lives
This from a women who with her husband is worth about $12 million, most of which is invested in Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF) according to Forbes. Equity funds are stock funds for those people, like Elizabeth Warren, who apparently doesn’t know what equity funds are.
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