I mean seriously or are they just against people who make some money without having to work for it? How is this different than people on public assistance (getting money w/o earning it?) Like my grandmother who has been investing for the past 44 years (strictly buy and hold) and today she gets close to 26K in dividends each year.....YET she has never made more than 50K (earned income) in one year. That just goes to show you that long periods of time (30+ years) will do wonders for most people in the markets. Unfortunately 62% of Americans cash out their 401ks on every job switch so they will never see those benefits of long term steady investing!!!! Not to mention we are a society obsessed with the short-term (both socially and financiallY) which probably explains why 62% of people cash out their retirement savings everytime they switch jobs.
Why do people on the left hate the stock market?
2007-07-24 14:30:33 · 11 answers · asked by Anonymous in Business & Finance ➔ Investing
I am not sure that they do. You can not get much further left than the Chinese government and they have fallen in love with stock markets. I will tell you what I hate. It is the CEOs lining their pockets at the expense of everyone else including the owners of the company, the workers, and the customers.
2007-07-24 15:12:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
People on the left who are making money in the stock market do not hate the market. There are plenty of them. Your statement is an overstatement of the truth.
However right now since the market is doing so good it is not fashionable by the left to let people know that the Bush administration is doing anything good. BUT in the 90's when Clinton was in office the stock market was all the rage for the left also. Do you smell politics. As the stock market bottom fell out in March of 2000 with over 8 months to go in the Clinton administration the left laid low until Bush got in in February of 2001 and then of course it was his job to get us up again. But then 9/11 hit and it went down further but only for a short time. Bush passed the large tax reduction after that and since that started to promote business the market has rallied to new records and here we are at over 13,000 at the DOW.
2007-07-24 15:51:27 · answer #2 · answered by Brick 5 · 0⤊ 0⤋
Your question will certainly solicit answers that agree with your premise. I'm amazed that you would even think that people on the "left" hate the stock market. It's more amazing that there are people that apparently agree with you.
This sentiment seems to grow from the "Rush" school of thinking (yes a ridiculous "assumption"). Are all people on the right dumb like George Bush (another ridiculous "assumption"). People on the right care nothing about civil rights (another ridiculous "assumption").
These thoughtless assumptions by the left and right about what goes on in the others minds is just plain stupid and wrong.
Let's all listen a little closer to each other. At least we won't make "our side" look dumb.
2007-07-25 00:55:33 · answer #3 · answered by Common Sense 7 · 0⤊ 0⤋
I think that some people on the left hate the market, but it is really a hatred of the capitalist system they harbor. I believe this represents a very small minority of people on the left, namely hardcore communists. Nothing wrong with that, no one HAS to invest money.
Oh, the reason why they hate it is really because of envy, but they'll say it is because the 'working class' are exploited, when really the 'working class' control a large portion of the market through 401(k)'s and the like, haha, ignoramuses.
2007-07-24 15:29:58 · answer #4 · answered by Erik 2 · 0⤊ 0⤋
The left are against self initiative.
The left feel that all enterprise should be owned by the government and run by the workers.
The left feel that everyone is owed a job and all kinds of benefits and don't have to meet any evaluation criteria.
Hard work and initiative is discouraged, Seniority means everything.
The left tends to embrace that which leads to communism.
And Communism failed in Russia, Communism is failing in China
Communism is slowly changing in Cuba.
The only places where communism (socialism) still reigns is under extremely authoritarism gov'ts like North Korea.
2007-07-24 15:39:33 · answer #5 · answered by bob shark 7 · 0⤊ 0⤋
I would say I'm on the left, and I sure don't hate the markets. Most of my net worth is in my 401(k), my IRA, and my mutual funds. What are you basing this on? Capital gains taxes? Those don't really come into play with a long-term buy-and-hold strategy like the one you described...
I'd be willing to bet that if you took a look at high ranking Dems in Congress, liberals on the Supreme Court and throughout the federal court system, governors of states, etc. you'd see that most of their wealth is in the stock market--because you're right, it is the way to really enrich yourself.
2007-07-24 15:44:05 · answer #6 · answered by oboeduck 2 · 0⤊ 0⤋
You have been watching way too much Fox News. I am very liberal and love investing in the stock market. I also don't think companies should be allowed to pollute the water and air without being held responsible.
2007-07-24 23:13:20 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Because they are communists and hate the idea of a free market. Survival of the fittest does not appeal to them. Working hard is not in their vocabulary.
2007-07-25 06:53:58 · answer #8 · answered by homerocks7001 2 · 0⤊ 0⤋
the far left gains support form those who are unsuccessful...thus blaming those that are successful and the tools they use to become successful. the far left takes advantage of the have nots by blaming the haves
2007-07-25 05:19:55 · answer #9 · answered by zioncanyon 3 · 0⤊ 0⤋
They don't.
Just ask Warren Buffett, George Soros and/or Jim Cramer. Or me for that matter.
2007-07-24 16:41:33 · answer #10 · answered by Adam J 6 · 0⤊ 0⤋