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View Diary: Rand Paul: 'We're all corporations' (126 comments)

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  •  who owns what (2+ / 0-)
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    RandomSequence, Calamity Jean

    Rand Paul is propagating the ‘investor class’ myth. That is, all of us who own stocks or shares of mutual funds are investors because we have a stake in the equity markets. As with all other forms of wealth, it’s a matter of degree.

    In the US, 80% of the value of the whole equity market is held by the wealthiest 10%. That 80% is divided roughly equally between the top 1% and the 2-9%’ers. In other words, 40% of the whole stock market belongs to the top 1%. Roughly half of Americans have under $2,000 in a retirement account and one third have none at all.

    Not surprisingly, the truth is the opposite of what Paul is saying. Insofar as corporations are their stock, they are “these other rich people.” They are not us, and they are not the middle class.

    Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. - Groucho Marx

    by Joe Bob on Fri Aug 12, 2011 at 11:11:44 AM PDT

    •  And even you can't bring up the working class. (2+ / 0-)
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      Joe Bob, Calamity Jean

      Most Americans have never -- and will never -- be middle class.

      Middle-class means you own your business -- or at least are a significant stakeholder by being a manager.

      Most Americans work for a living -- they are paid hourly wages to do tasks at the order of others. Even if you have a house -- that makes you working class.

      But working class doesn't exist -- even to many liberals.

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