Strong Stock Market = Universal Benefits
The killjoys who are working hard to promote the idea that low corporate tax rates are only yielding more stock buybacks are wrong and are doing everyone a disservice. Corporate stock buybacks help stocks because it places shares in the hands of non-sellers while making those in the float more valuable. They help American society and help the overall market withstand short raids and fecklessness in the face of day-to-day challenges.
The stock market is a barometer of the health of the economy. Business decisions from hiring to expanding rely on strong market trends and the golden years of virtually all working Americans.
One of the most disingenuous comments I get from those attempting to promote the market as only the playground of the rich and powerful is that most Americans don’t have 401K plans. Well, 54 million Americans do own 401K plans, but that’s only one part of the retirement universe.
There is $27.9 trillion in retirement assets in this country, and most of it is tethered to the stock market and the health of the stock market.
$7.7 Trillion Defined Contribution
$8.92 Trillion Individual Retirement Accounts
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