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 14:31:27 · 10 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
You are aptly named. Do you just live at home with your grandma, creating inane theories about the way the world works? There are TONS of people on the left who LOVE the stock market. EVERY politician on the left is INVESTED in stocks.
2007-07-28 11:43:05 · answer #1 · answered by Insanity 5 · 1⤊ 0⤋
I don't HATE the Stock Market. There was a time I owned Stocks. This was before:
1) I got Divorced and could no longer afford to contribute to a 401K.
2) My Corporate Employer cut my pay (less than inflation) and healthcare benefits.
I've watched many lose their jobs through mergers, relocations of headquarters, jobs outsourced to low wage temp. workers with no benefits, and jobs sent to China and India. Main Street Lost.
Corporations' Profits rose because of these actions as did their share prices. Wall Street Wins.
Resent is the word, not hate.
The RICHEST 10% of Americans own 83% of the Stocks and 81% of the Real Estate in the United States.
2007-07-24 21:47:17 · answer #2 · answered by Richard V 6 · 1⤊ 0⤋
Um, I'm on the left and don't hate the stock market. I had quite a bit invested at one time. If people on the left didn't like the stock market, it wouldn't be half the size it is now.
The big problem I have is with people who assume that the free market is a perfect engine of good. The free market is neither good nor evil. It simply is. It can be used for either. Too much government control usually gets you inefficientcies and repressive government, while too little gets you robber barons and monopolies and sweatshops.
2007-07-24 21:41:13 · answer #3 · answered by Chance20_m 5 · 1⤊ 0⤋
Where do you get your information?
George Soros, one of the richest men in the world, is a definite leftie and loves the market. Same for Bill Gates and Warren Buffett.
Those folks cashing out their 401Ks are all red state conservatives. They need to finance all their mistresses and multiple divorces, don'tcha know?
2007-07-24 21:48:05 · answer #4 · answered by nora22000 7 · 2⤊ 0⤋
Don't hate the stock market. Had lots of 401k money invested in it. Then Cheney's company bought out my company. My 401k got cashed out. The money went into Halliburton's pocket.
Hate people that steal MY money and don't pay taxes on it.
Really hate peiople that distort things and put words into my mouth.
2007-07-24 21:41:39 · answer #5 · answered by Anonymous · 2⤊ 0⤋
Uh, where do you get your information?
Political leanings have nothing to do with investment, aside from our candidates dumping controversial assets in preparation for the primaries.
Example: Warren Buffet.
You would have to be pretty dim to believe that only Republicans are investing in markets. Take a look at some leftist, communist Hollywood types and their portfolios sometime.
2007-07-24 21:44:50 · answer #6 · answered by buzzfeedbrenny 5 · 1⤊ 1⤋
I think your blowing steam out the wrong hole. You may find some lefts who dislike it but your question refers to all lefts which is a mistake. All people are born and all people die that is safe to say but saying all lefts hate the stock market is insane.
2007-07-24 21:42:51 · answer #7 · answered by Bud W 5 · 2⤊ 0⤋
yeah, your grandma is pretty smart. but don't preach to the choir. and don't generalize. everything that you are saying is old news. repeating your facts makes you seem a little foolish.
many people on the left love the stock market and 401k's, 403b's and roth iras.
2007-07-24 21:57:59 · answer #8 · answered by Anonymous · 2⤊ 0⤋
Who in your little world is telling you this? It's TOTALLY not true.
2007-07-24 21:34:18 · answer #9 · answered by Sangria 4 · 5⤊ 0⤋
Because they don't have enough money to invest in it.
2007-07-24 21:36:21 · answer #10 · answered by Anonymous · 1⤊ 4⤋