The stock market is hitting record highs, again (yawn). Trump's bragging up a storm, claiming credit for the stock markets success, as if the crowing rooster deserves credit for the sun coming up.
Here's the problem. The vast majority of the stock market's spiked performance translates into one big financial gift for the richest 1% of Americans, who will now pay fewer taxes when they sell or receive dividends (payouts) from their stock holdings. What Trump's telling you to cheer means little to you, me, and the vast majority of ordinary Americans. The clip below explains why ...
In real simple terms, it's like we're fans, cheering for the owners of our professional sports team, who then demand we build them a new stadium.
Then we pay big dollars to watch their team, either in person or with our expensive cable packages. Then we buy all the gear, paraphernalia, and memorabilia, which puts more money into the owners coffers.
Worse, we pay all of this so we can get kicked in the groin when "our team" fails to win, or gets blown out during the season. Then we sulk, in front of our taxpayer subsidized stadium, or in front of our NFL package running television.
There's always next year.
But you still don't get to sit in the owner's box, EVER (even if you promise to clean their glasses).
Moral of the story? You might wear the gear, but you aren't them.
A spiked market is nothing to crow about for you and me.