Letter: Stock market rise is not helping those who struggle – The Mercury News

Jerry Mungai (Letters, Jan. 13) cites the rising stock market as a benefit to working people and a justification for the recent tax break for the already wealthy. Let’s get real. The stock market is continuing on an upward trend that started in 2010 and benefits only those who can afford to invest, not those scrapping out a living working three jobs.

The bonuses that corporations have handed out to their employees is just an attempt to shift the attention away from the open and bold handout they have received. The new tax legislation is socialism for the well-to-do. The wealthy laugh all the way to the bank, while those on the fringe suffer slow economic strangulation.

Bill Wallace
Vice President
California Alliance for Retired Americans
San Jose

Submit your letter to the editor via this form
Read more Letters to the Editor

This Article Was Originally From *This Site*

Powered by WPeMatico