| Unleash Prosperity Hotline Issue #179 12/14/2020 |
| 1) Fed Study: Wealth Has Surged Under Trump Aren’t you sick – already – of Joe Biden pontificating about how he will “reward work not wealth”? This is a warped 19th-century Marxian formulation that work and ownership are in competition. We’re all for work, but what in the world is wrong with building wealth? The Federal Reserve Board just released a study showing Trump policies have caused a surge of wealth. The net worth of all Americans rose to $128 TRILLION through September of this year. That’s up almost 30% in four years. And that was before the Doordash and Airb&b IPOs! All races saw increases in their wealth holdings. This becomes a nest-egg legacy that parents hope to someday pass on to their kids – if Biden doesn’t tax it all away. This wealth is held primarily in the rising valuations of our stock holdings, homes, farms, and properties. It reflects the rising profitability of great American companies from Google to Apple to FedEx to our 28 million small businesses. But readers beware: when an incoming president says openly he doesn’t want to “reward wealth,” it’s not too likely he’s going to help create much of it. This may create a Marxian spiral downward with everyone equally poorer.  |
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