Thursday, March 07, 2013

Good News Not

If you have any money in stock market maybe via a 401K or something I'm sure you are pleased that it has returned to 2000 levels with its run up yesterday...Congratulations you are where you were 13 years ago.

Seriously, it is really difficult to get all giddy about the about the Dow going over 14,000.  Robert Reich doesn't feel to giddy either, and explains why.

The key thing to note is that only the wealthiest 1% in this country make any profit off the stock market and are better off than they were 13 years ago. They also pay very low, if any, taxes on said profits. The rest of us (you know the other 99%) are actually worse off than we were in 2000 and we pay the full boat in taxes even on our minimum wage job.

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