Untaxed Americans: The Speculators, Hustlers, and Freeloaders of Wall Street

[applegrove]

Untaxed Americans: The Speculators, Hustlers, and Freeloaders of Wall Street

by Paul Buchhiet at the Contributor

http://thecontributor.com/economy/untaxed-americans-speculators-hustlers-and-freeloaders-wall-street

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Stocks Gained $4.7 Trillion in 2013 while Schools and Food and Libraries Were Cut

The stock market grew by $4.7 trillion in 2013. Most of this wealth went to the richest 10%, who own almost 90 percent of stocks excluding pensions (Table 6). According to a Pew Research study, 93 percent of Americans LOST wealth, on average, in the post-recession "recovery."

Most of the $4.7 trillion was made through a non-productive buildup of capital value, by people who already had money well-positioned to make more money. An FTT would help ensure that some of the rewards of a productive society are returned to that society.


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