Jared Bernstein, former chief economist to Vice President Joe Biden, noted Monday:
President Trump and his team go on endlessly about the rise in the stock market (although the trend predated their arrival), but 84 percent of its value is held by the wealthiest 10 percent of households; 40 percent, by the top 1 percent. About half of households own no stock at all.
Among Fortune 500 corporations:
- Only 46 (9%) appear on the Americans for Tax Fairness list for having provided some benefit to employees, customers, or charitable organizations due to their tax cuts.
- Only 29 (5.8%) are on the ATF list for one-time bonuses and just 17 (3.4%) are on the list for wage increases.
- 26 (5.2%) are on the ATF list for other types of benefits provided to employees or for charitable contributions or consumer benefits, such as lower electricity rates.