Posts Tagged ‘Middle-Class’

Stock Market Drops On News Of Obama Win

November 6, 2008

"I'm for the middle-class."

The stock market plunged about 22% today after the election of Obama. I would guess that people are realizing that he’s going to raise the capital gains tax.

This is/will decimating middle-class retirements. Why? Because the middle class’ retirements are almost entirely in the stock market whereas the ‘rich’ can afford to spread their money into other things like real estate and not entirely into the stock market.

Get ready, it’s already starting.