
Let’s face it-the Dow’s recent record-setting streaks only impact a relatively tiny portion of the US’ population. Indeed, while middle class household median income has slumped for the better part of half a decade, the hyper-rich, we’re not talking about run-of-the-mill rich here, have been posting solid gains. In fact, the divide between the rich, households making $120,000 to $250,000 per year and the hyper-rich is growing with each new stock market record. While the rest of the population languishes in economic uncertainty, a fraction of the top 1% continues to reap the benefits of the markets’ forward, albeit choppy, progress. You need to keep this background in mind when digesting Obama’s proposed capital gains tax increases.
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