Earlier today I had some thoughts I wanted to publish . But something happened, I FORGOT THEM. I am sure that it had to do with another of those National something day, week or month. Of course in the medical world there are thank a nurse week, thank a sterilization employee week, thank a CWT worker week, hug a psychiatrist week and acknowledge a house keeping employee week.
NOW I REMEMBER: #1) The Top 1% Owns 40% of the Nation's Wealth
#2) The Top 1% Take Home 24% of National Income
#3) The Top 1% Own Half of the Country's Stocks, Bonds and Mutual Funds
#4) The Top 1% of Americans Have Only 5% of the Nation's Personal Debt:
#5) The Top 1% Are Taking In More off the Nation's Income Than at Any Other Time Since the 1920s(I don't understand that statement).
This is what the people demonstrating on wall street are mad and upset about (though many have no clue why they are there). While there are things in the trading of stocks that should not be, short selling, congress in their continuous stupidity along with the SEC will not put a stop to those who make money from the buying and selling of stocks no matter which way they go, up or down. There is just something wrong with that. Now I don't give a damn what the rest of the world does, however if you buy a stock because you think it is going to increase in value, and it goes down in price then you should not benefit from the loss of value in that stock.
The wealth building playing field is not level. It has not been for a century or more and will not until the simplification of buying and selling stocks is reduced to if it is up you make money and if it goes down below what you paid you loose money. There should be no continuous tax on the gain other than the difference between the last sell off and any increase since you bought it again. Does that make sense? If you paid a $1.00 and it goes to $2.00 and you sell, you are taxed on the gain. If you buy it at $2.05 and it goes to $3.05 you pay again when you sell it. If there is a tax deduction because you are incorporated and you loose in the stock market it should be done away with.
Just my thoughts as a lay(not sure of spelling) person.