There are so many preposterous arguments made by the NatCons (National “Conservatives”) who helped engineer this stock market crash, that we hardly know where to start. But we are going to dismantle their arguments, because we believe they are a real threat to the freedom and prosperity agenda - as recent events have shown.
The NatCons say that Wall Street gains come at the expense of America's middle-class families. They sound like Bernie Sanders.
This is an economically illiterate argument because without business profits, there are no jobs and no wage gains.
But more importantly, a record number of American workers are stock owners - directly or through pension funds. The chart below shows that 6 of 10 American households are now stock owners - and that's almost double the percentage from the 1980s.
That percentage would be closer to 90%, if we would allow American workers to divert their social security taxes to 401k-type personal accounts.
