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The stock market and the 2020 election

December 18, 2019
Pine Island Eagle

To the editor:

Think the rise in the stock market has no effect on 2020 election?

The mainstream media downplays the 10,000-point increase in the Dow Jones under President Trump by publishing the numbers of people that do not have stocks, pension plans, IRAs or traditional savings accounts participating in the stock market.

Let's just look at what we actually know. According to the Investment Company Institute in 2014, 56% of American workers contributed to a 401k and according to Statista.com, about 130 million Americans were full-time workers as August 2019. That equals about 72.8 million people in that segment that are participating in the stock market rise. Additionally, in 2015, the Employee Benefit Research Institute released statistics revealing another 20.8 million Americans owned an Individual Retirement Account.

These numbers indicate about 90 million Americans are invested in the stock market enjoying record returns on their retirement investments.

The predominately Socialist Democrats running for president have declared they will reshape our country away from capitalism putting more control of our lives in the hands of government.

Real tangible wealth has been built for the futures of all these participants in a very short time frame. Do you really believe a majority of these workers will sacrifice their retirement plans to vote for a Democrat?

Max Christian

St. James City

 
 

 

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