How does the stock market effect the poor?

[ttwarrior1]

or low mid class or middle class



Nothing but the rich feeding the rich and its all they care about. The rich want to get richer, complain about it and never help anyone but themselves.

[ttwarrior1]

people see the stock market going down and wants it goes back up, nothing but greedy people will be involved.

[iceminers26]

same story, different day... will never change

[Extra Innings]

Profits from Investment you dope are reinvested

[iceminers26]

who cares anymore... stock market is the biggest crock of shit out there next to the US Gov't... just have to worry about yourself and loved ones now, no more team mentality... if you don't, you won't survive in this new world...sad but true this is the way it is now.

[ACoochy]

Stockmarket most corrupt entity since the inception of the world...And the US government through their own behaviours have shown themselves to be a close 2nd...

[ttwarrior1]

none of it is reinvested to help anyone


Live in a city of 5 thousand and now we have about 100 people in the homeless shelter and about 20 that live on a park bench when they sneak in at nite. I wonder if they care about the stock market

Focus needs to be on

1 creating good jobs
2 bringing jobs back to america that were over seas
3. Quit wasting money on stupid shit
4. Who cares about the national debt. We don't owe any country anything. If they don't like it , thats tough.

[ACoochy]

none of it is reinvested to help anyone Live in a city of 5 thousand and now we have about 100 people in the homeless shelter and about 20 that live on a park bench when they sneak in at nite. I wonder if they care about the stock market Focus needs to be on 1 creating good jobs 2 bringing jobs back to america that were over seas 3. Quit wasting money on stupid shit 4. Who cares about the national debt. We don't owe any country anything. If they don't like it , thats tough.

Warrior if 'they' dont like it (ie China) they will simply take ur land (hope 4 the good of mankind its texas 1st) cos they know u cant pay back....

[rsnnh12]

You clearly don't understand how the stock market really works...

[ttwarrior1]

then tell us how it works, Ive yet to see anyone that is poor, low class, or low mid class ever benefit from the stock market.

Unless you mean their gonna take money from all those for themselves. rich take from poor

We don't owe japan or china jack crap.

[ACoochy]

then tell us how it works, Ive yet to see anyone that is poor, low class, or low mid class ever benefit from the stock market. Unless you mean their gonna take money from all those for themselves. rich take from poor We don't owe japan or china jack crap.

Warrior start reading the Wall Street Journal and other e-zines and financial magazines...Get clued up on the psyche of the market...Its not as out of reach as you may think...Btw ur country owes china couple of trillion...I think thats worth a few states at least, dont you?

[Call82]

I will take a minute and try to outline the REAL problem for the US:

Roughly 70% of the GDP is based on private consumption, whereas roughly 80% of this consumption is made by the wealthy (top 20%) of the population. When the government lowered the interest rates back in 07/08, they said they wanted to help the housing market and the people on the street with their mortgages, but the truth is that they wanted to stabilize the stock market, since the top 20% I have written about make much more money off the stock market than off their real estate (and those are the people running the GDP consumption). Since Obama wants the consumption to stabilze/rise, he needs to feed the rich (via the stock market)...as sad as it sounds, but without a positive trend on the stock market, the poor will be worse off since alot of jobs will be cut and thats where we are at now...if you have further questions let me know, I will try to answer them as good as I can...

[TwoWays]

Fck. the market. Hard working people used to be able to depend on it to save for their retirement. Now your retirement can be wiped out because some computer and/or hedge funds decide it wants to do so.

[iifold]

Let me guess...

It's Bush's fault your 300 pounds...

Poor people are poor for a fukkin reason... If it aint their fault, it's there parents fault... or their parents, parents fault..

Simple fukkin laws of the jungle... what do you think you are some special being that deserves everything handed to you on a fukkin platter??

[ttwarrior1]

im not poor but this post is not about me, and the way you said it is one of the problems with the world. We dont want anything handed to us on a silver platter but give them a doggy bag at least

[ttwarrior1]

if i was president

health care would be free for everyone
anyone that wants to go to college, paid for
We got kids that can't even afford a glove to play little league baseball

[andywend]

How does the stock market effect the poor, low mid class or middle class? Nothing but the rich feeding the rich and its all they care about. The rich want to get richer, complain about it and never help anyone but themselves.

Investing in the stock market is open to anyone and everyone, rich and poor alike. Liberals love to talk about helping others but only when ITS OTHER PEOPLES MONEY. The rich do indeed want to get richer and the poor do nothing but whine and complain and demonize the success of others. Ttwarrior, before you ask the rich to help anyone, its time for YOU to pony up with YOUR OWN MONEY. Everything else is all hot air and bullshit.

people see the stock market going down and wants it goes back up, nothing but greedy people will be involved.

When you bet on a sporting event, do you root for your team to win? I guess you're just too damn greedy!!!

just have to worry about yourself and loved ones now, no more team mentality

Team mentality? What the hell does that mean? Does that fall among the same lines that it takes a village to raise a child? Its time for you, IceMiners, to give to "the team".

none of it is reinvested to help anyone. Live in a city of 5 thousand and now we have about 100 people in the homeless shelter and about 20 that live on a park bench when they sneak in at nite. I wonder if they care about the stock market

What have you EVER DONE to help anyone but yourself? Without investment, there would be no private sector and the government would control everything which is a scenario you would probably like.

Who cares about the national debt. We don't owe any country anything. If they don't like it , thats tough.

One can only wonder how many houses this guy has walked away from? Since so many liberal democrats are refusing to live up to their obligations, its not surprise they recommend our country default on its obligations.

Why would anyone want to help out "the team" when the team consists of people like this? Is it any wonder why America is falling apart at the seams?

Ethnic diversity, our country's GREATEST WEAKNESS. As bad as socialism is in other countries, it would be FAR WORSE if implemented in the U.S.A.

[play2winit]

I would say poor people tend to rely on borrowed money and they always have to pay twice. Not only do they have to borrow a small amount of money it takes them awhile to pay that money back and now interest rates are going up its going to take even longer to pay back that small amount of money not only that they have to take the increased costs companies pass on to consumers because of higher interest rates for them to borrow. Its bad right now.

[TwoWays]

Such basic necessities that could only help America.

[andywend]

if i was president health care would be free for everyone

anyone that wants to go to college, paid for
We got kids that can't even afford a glove to play little league baseball

Hey TTWarrior, I have some GREAT NEWS for you.

You don't have to be president to do these things. Heres what you do:

1. Get a 2nd job working an additional 40 hours per week.
2. When you get your paycheck, you can take it to the bank and cash it.
3. Take that cash and give it to individuals you deem worthy of free health care, free college or that little league glove.

If you want to help even more, you can work more hours or you can become skilled and earn more money and do steps 1-3.

WHY WAIT UNTIL YOU'RE PRESIDENT which has no chance of ever happening (at least, I sure hope it doesn't)? Why ask other people to do these things when you can take on a 2nd full-time job and do it yourself?

NOW GO GET TO WORK and put some action behind that hot-air coming out of your mouth.

[ACoochy]

if i was president health care would be free for everyone anyone that wants to go to college, paid for We got kids that can't even afford a glove to play little league baseball

Make the tax rate a flat 50% 4 everyone regardless of status (think some of europe) and youll get it laid on inc free public transport

[play2winit]

Its even worse now because these drops in the stock market are happening in a recession when a lot of people don't even have money so they can't even get out of the cycle they are already in. Not only can't they get out of a cycle but they run the risk of losing their job due to the company they work for having increased costs to operate (interest rates), low consumer demand (unemployment, purchasing power (due to higher interest rates,increased costs).

[andywend]

Make the tax rate a flat 50% 4 everyone regardless of status (think some of europe) and youll get it laid on inc free public transport

ACoochy, under your plan, what do you do with the able bodied adults who decide NOT to work?

[ACoochy]

ACoochy, under your plan, what do you do with the able bodied adults who decide NOT to work?

Well for starters those that dont work miss out on the material possessions that those who do work get to enjoy...thats what weve been lead to believe anyway...

But to answer the question, seeing as the tax rate would already ensure a affluent economy unemployed people would be given poverty line level of government assistance which would be means tested to determine that they r genuine in their efforts to attain work.

Those found not to be would be given 3 months assistance after which if they hadnt found employment they would be cut from receiving welfare for 12 weeks, forcing them to either find work or live off government run food and shelter programs for the poor b4 they can re-apply.

Reality is we are talking about such a small number that the dent on the economy would be less than minimal (<0.05% of GDP)

[itchypickle]

TT - It's not the 'stock market' as much as it is the entire markets....bonds, commodities, etc. The 'poor' or poverty level determined by making under a certain amount per year will be effected due to prices of goods going up (inflation) more than anything. If you're in the middle to upper middle income rang then your retirement accounts from your your job are being invested each month so you hope it gets a good return to build your nest egg.

Back to the 'poor' being effected......the debt you hear about is basically from China, Brazil, Canada, other countries buying our Treasuries at 2, 10, 30 year terms - we guarantee them to be paid in U.S. currency since it's the default currency of the world for goods.....China for instance couples their currency to ours to keep their imports cheap in the trade deals.....and if China were to get upset over fears of repayment, they and other holders of our debts could start to dump them on the secondary markets thereby making out Dollar worth less from lack of demand.....this means it will take more $$$ bills than previously to buy food, drinks, tvs, etc and if you don't have much o begin with...you certainly now have less Hope that made sense as it's almost 5 am and I'm debating whether to skip a workout in an hour and just sleep....so I may have not explained it simply enough.

[andywend]

But to answer the question, seeing as the tax rate would already ensure a affluent economy

Why would you think that? Why would anyone work at a $10/hour job and net out $5/hour after taxes when the poverty line of governmental assistance would be more than $5/hour? Instead there would be mass amounts of people doing "underground" work for cash and collecting governmental assistance.

Fast food restaurants would have an incredibly difficult time finding employees as would small businesses.

ACoochy, I realize there are a select few nations like Switzerland that have extraordinary tax rates like you suggested but Switzerland has an ethnic purity that the U.S. just doesn't have. In Switzerland, they have that "team mentality" and even with that, we are finding that the Eurozone is facing major problems which socialism will be unable to solve.

I can't see any possible scenario where a 50% across the board tax rate would work in the U.S. but I do agree in your theory of a flat tax and taking away all tax loopholes that the rich exploit. Lower that 50% tax rate to say 20% and take away all deductions. At the same time, the level of government assistance for those that refuse to work has to be NIL or close to NIL.

I don't see any way out of the problems that face the U.S. I think we're cooked but I sure hope I'm wrong.

[shari91]

ACoochy, I realize there are a select few nations like Switzerland that have extraordinary tax rates like you suggested but Switzerland has an ethnic purity that the U.S. just doesn't have.

Why do you believe Switzerland has ethnic purity? 20% of their population isn't even from Switzerland.

[ACoochy]

Why would you think that? Why would anyone work at a $10/hour job and net out $5/hour after taxes when the poverty line of governmental assistance would be more than $5/hour? Instead there would be mass amounts of people doing "underground" work for cash and collecting governmental assistance. Fast food restaurants would have an incredibly difficult time finding employees as would small businesses. ACoochy, I realize there are a select few nations like Switzerland that have extraordinary tax rates like you suggested but Switzerland has an ethnic purity that the U.S. just doesn't have. In Switzerland, they have that "team mentality" and even with that, we are finding that the Eurozone is facing major problems which socialism will be unable to solve. I can't see any possible scenario where a 50% across the board tax rate would work in the U.S. but I do agree in your theory of a flat tax and taking away all tax loopholes that the rich exploit. Lower that 50% tax rate to say 20% and take away all deductions. At the same time, the level of government assistance for those that refuse to work has to be NIL or close to NIL. I don't see any way out of the problems that face the U.S. I think we're cooked but I sure hope I'm wrong.

Andy the ideal of a perfect fit solution to this problem simply doesnt exist. Only trying to make the best with what we've got.
Dont agree with giving NIL to unemployed people. What of those that are made redundant through no fault of their own in a low skilled job?? Or those that are injured at work who are paid minimal wage and cant afford income insurance? Someone keeps the city streets clean whilst we sleep at night...Hence the idea regarding means tested welfare...Besides in a affluent economy with regulated salaries $10 per hour simply doesnt exist (unless ur 15yo and work in McDonalds). I understand the US structure is different though but keep in mind that kind of wage simply doesnt exist in almost all other 1st world economies...

As for the idea about a 20% flat rate minus the trimmings. I think it has merit as would encourage competition but how can u assure that price gauging/collusion wont occur that would inflate prices for the average consumer? Regulation would have to be written into law to ensure big fines/jail terms for those found to be exploiting said laws would exist...

And ur right, europeans and americans are defintiely very different, culturally speaking. Americans have a hard enough time accepting the fact that taxes will probably have to increase from current levels in order to pay off this debt hole becaue theyve been taught that the word 'tax' is a bad word...Its ingrained into the psyche...Traditional conventions and wisdom will be tested in the near future for sure, just hope that those in power really do have their citizens best intersts at heart...

[andywend]

ACoochy, in my opinion, a line needs to be drawn in the sand.

Americans earning minimum wage do not have enough to make ends meet. I believe that all government assistance programs need to be reserved for those that are full-time employed. It shouldn't matter the job or the wage, if an individual is working full-time and doing what they can to produce for the good of the country, then there needs to be a safety net in place for these individuals.

Where we probably differ is regarding able-bodied individuals who refuse to work as I don't believe they are entitled to any form of government assistance. As it stands now in my country, individuals who know how to play the government assistance system get more money and better medical care than those individuals who work full-time at minimum wage jobs. In Massachusetts, some people are getting almost $1,000/week in unemployment benefits (almost 4X the minimum wage).

My country needs to reward and provide as much incentive as possible for people to find work (any kind of work) and severely restrict the amount of government assistance one can receive when they are not working.

Almost all 50 states in the U.S. are broke and the federal government doesn't have a clue how to manage money. Those in power in my country only care about themselves and the U.S. has some really tough days ahead of her. We have dug a hole that is impossible to climb out of.

[I/O]

if i was president

health care would be free for everyone
anyone that wants to go to college, paid for
We got kids that can't even afford a glove to play little league baseball

and all the beef sandwiches you can eat

[I/O]

none of it is reinvested to help anyone


Live in a city of 5 thousand and now we have about 100 people in the homeless shelter and about 20 that live on a park bench when they sneak in at nite. I wonder if they care about the stock market

Focus needs to be on

You find about 20 or 25 other fellow weight challenged individuals (in the city of 5 thousand)
Put down your tiny violin
You all eat half of the massive amount you are shoving in your pie holes
You actively (physically) help the other bust outs all around that you have all this pity for and give them all the food you don't eat
You stop spending all the rest of your time posting in internet forums
You finally realize how ungrateful and worthless most (not all) of these dipshits are and how they (most) actually have CHOSEN THIS LIFESTYLE
They come to hate your fat ass and loose all desire for food

Success

[ACoochy]

ACoochy, in my opinion, a line needs to be drawn in the sand. Americans earning minimum wage do not have enough to make ends meet. I believe that all government assistance programs need to be reserved for those that are full-time employed. It shouldn't matter the job or the wage, if an individual is working full-time and doing what they can to produce for the good of the country, then there needs to be a safety net in place for these individuals. Where we probably differ is regarding able-bodied individuals who refuse to work as I don't believe they are entitled to any form of government assistance. As it stands now in my country, individuals who know how to play the government assistance system get more money and better medical care than those individuals who work full-time at minimum wage jobs. In Massachusetts, some people are getting almost $1,000/week in unemployment benefits (almost 4X the minimum wage). My country needs to reward and provide as much incentive as possible for people to find work (any kind of work) and severely restrict the amount of government assistance one can receive when they are not working. Almost all 50 states in the U.S. are broke and the federal government doesn't have a clue how to manage money. Those in power in my country only care about themselves and the U.S. has some really tough days ahead of her. We have dug a hole that is impossible to climb out of.

Andy, by the sounds of what ur saying those on minimum wage really do need a representational body that represents their interests to ensure that they are not exploited. Why this is not in place already i do not know as not intimately knowledged with US union and employment laws. Maybe pay rises in line with the rate of inflation if only to help meet minimum expenses?? I know the problems are bigger than i can ever comprehend, just my .02 is all

Another issue im seeing arise here from what youve said is the distribution of power between employers and employees (particularly in minimum paid employment). By the sounds of it this is disproportionaite towards one party and perhaps a independent federal regulatory body/commission needs to be set up to review and make recommendations on current state of affairs in order to close the gap and further the agenda of the country in general...

Theres a saying that goes greed corrupts and absolute greed corrupts absolutely. I find this to be quite poignant given current situation..

[pavyracer]

It doesn't affect them. They don't buy stock anyway or buy the materialistic stuff rich people buy.

[mrmarket]

It doesn't affect them. They don't buy stock anyway or buy the materialistic stuff rich people buy.

When dollars are involved marketing does not discriminate.

[milwaukee mike]

so the poor weren't any worse off during the great depression when the stock market was getting crushed from 1931-1939