Ebay Import Charge

[habu2]

Scooby is correct, you have to have money to invest money, while the financial burden of taxes and tariffs is disproportionately borne by those with less money. This administration is totally focused on making the rich richer and the poor poorer. 

[GW8345]

Um.......wrong. if you have a 401k or retirement plan then you are invested in the stock market, the stock market isn't just for the "rich".

 

Funny how I don't remember you all complaining Europe's VAT, guessed I missed that little witch (with a capital B) fest.

Edited August 22, 2025 by GW8345

[habu2]

If you have a 401K then you have money to invest.  It may not be much, and it doesn't mean you're "rich", but it does mean you're not living paycheck to paycheck and not putting money into any kind of savings program.

 

The national percentage of individuals who participate in a 401K program is about 59%, which sounds good but the percentages are heavily skewed towards individuals with higher incomes.  For instance 83% of households with an annual income over $100,000 participate in 401K programs, while only 28% of households with an annual income less than $50,000 participate.  Similar differentials also apply based on education level and ethnicity.  If you're a white adult with a college degree, you probably have a 401K,  If you're not, you probably don't. 

 

The average 401K balance is also heavily influenced by age, which makes sense since older individuals have been participating longer than younger folks.

 

Quote

• For baby boomers, the average 401(k) balance is $249,300 with an average IRA balance of $257,002.
• For Gen X, the average 401(k) balance is $192,300. The average IRA balance is $103,952.
• Millennials have an average 401(k) balance of $67,300. The average IRA balance is $25,109.
• Gen Z investors have an average 401(k) balance of $13,500 and an average IRA balance of $6,672.

 

[WymanV]

4 hours ago, GW8345 said:

Funny how the DJIA just skyrocketed over 900 points and is at an all time high, yet our economy is supposedly hurting.

 

I find it humorous when those who are in favor of other people paying their fair share complain when it's their turn to pay their fair share.

 

 

 I went grocery shopping last night. It hurt.

[GW8345]

hypothesis

4 hours ago, habu2 said:

If you have a 401K then you have money to invest.  It may not be much, and it doesn't mean you're "rich", but it does mean you're not living paycheck to paycheck and not putting money into any kind of savings program.

 

The national percentage of individuals who participate in a 401K program is about 59%, which sounds good but the percentages are heavily skewed towards individuals with higher incomes.  For instance 83% of households with an annual income over $100,000 participate in 401K programs, while only 28% of households with an annual income less than $50,000 participate.  Similar differentials also apply based on education level and ethnicity.  If you're a white adult with a college degree, you probably have a 401K,  If you're not, you probably don't. 

 

The average 401K balance is also heavily influenced by age, which makes sense since older individuals have been participating longer than younger folks.

 

 

I know this is going to come as shock to you but I disagree with your ascertain that the stock market is only for the rich.

 

1) In order to be considered rich you have to have a median income of at least $500k, you cite $100k.

2) You don't mention American's earning between $50,000 and $100K for participating in a 401k program, how many of them are participating in a 401k program

3) People earning less than $50,000 are usually part time or low skilled workers, hence the reason why only about a quarter of them participate in a 401k program, very few companies offer that incentive.

4) An individual can contribute to a 401k at any income level, a minimum wage earner can always take $5 a paycheck and put it towards a 401k, there is no income limit when it comes to contributing to a 401k.

5) When you have to invoke race and sex in your hypothesis you've lost me, those two factors are irrelevant to this discussion IMO.

 

Also, nowhere did I say that having a 401k means you are rich, that was you, you said only the rich have 401k's and now you are back peddling. 

 

In conclusion, the stock market isn't just for the "rich", everyone benefits from a strong market, even those without a 401k.

 

[GW8345]

4 hours ago, WymanV said:

 

 

 I went grocery shopping last night. It hurt.

You might want do some research on exactly which administration drove food prices up before you blame the current administration, that pain has been going on for the past 4.5 years. It didn't start with the current administration, it was the previous administration and their assassin policies that drove food up, the current administration is working to lower prices but everyone knows, once prices go up they rarely come back down.

[GW8345]

Also, I thought you guys would be happy to pay your "fair share" since you support that principle.