Source: https://www.stockfreeimages.com/6066759/Beating-the-Market-vector.html Polls showed that the bad shake the American working class had been getting from global competition and the influence of Wall Street on American politics had been major drivers behind both the competitiveness of Bernie Sanders in the Democratic primaries and the success of Donald Trump in the Republican primaries and general election in 2016. Yet Trump and the Republicans have just delivered America’s rich what may well be the biggest one-time shot in the arm ever, in the form of a 14-point cut in the corporate tax rate with no countervailing high-end income tax increase. Did you know that all on its own, the corporate tax rate cut can account for an increase of 21.5% in the value of the stock market? With the top 20% of Americans, by wealth, already controlling more than 70% of household wealth in the U.S., the top 1% controlling about 40% of total wealth, and the lion’s share of traded equities being in the hands of these groups’ members, this means a huge boost to U.S. wealth inequality. Those in the top 1% by wealth have about 27% of their assets in the form of stock, with the next 19% by… Read full this story
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