Let's keep this local or move on, folks. (No disrespect to Mark or
Becca, but I feel this drifting away from us.)
David Brauer
List manager
On Oct 18, 2005, at 9:55 AM, Becca Vargo Daggett wrote:
Mark says:
I'm sorry, this math makes no sense to me. If you agree that
pension funds hold 25-30 of the financial assets, how is it that
the middle class has so little money in the stock market? Are the
pension funds all in the bond market? I've had personal
knowledge of public employee pension funds that were invested in
venture capital funds. Horror of horrors, the intent of those
investments was to make profits for the pension funds. And not
all of the employees of the company where the money was invested
met the living wage test.
60 percent of pension fund assets belong to people with incomes
over $100,000 per year. People with incomes under $50,000 - around
60 percent of the population - hold about 11 percent of pension
fund assets. So households with incomes between $100,000 and
$50,000 are around 30 percent of the population, and hold around 30
percent of the assets in pension funds, which are 30 percent of the
assets in the U.S. market. (That figure comes from a 2004 report by
the Economic Policy Institute, The State of Working America, using
federal data.)
Becca Vargo Daggett
Seward
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