President Donald Trump regularly promotes the soaring stock market as a barometer of the economy’s health, tweeting again on Monday that it’s a key reason he should be reelected. But investors aren’t sharing the wealth.
The reality is that the wealthiest 1 percent of Americans own 50 percent of the value of stocks held by individual households, and the top 10 percent control 88 percent. The huge inequity in who holds shares may offer the strongest rebuttal that the market’s performance does not translate to middle class economic success. What’s more, the stark divide is fueling an increasingly lopsided economic recovery.
A new survey by the Federal Reserve shows that more than half of American families — 53 percent — were invested in the stock market as