Reacts to Reich column
To the editor:
I’ve heard or read the old adage “Figures don’t lie, but liars figure.”
I’m curious as to if it might (even remotely), apply to Robert Reich’s column, “The real economy,” The Messenger, June 14.
On the financial page (same date), “About 80 percent of stocks are held by the wealthiest 10 percent of Americans. …” Reich says in his column “Over 90 percent of the value of the stock market including 401(k)s and IRAs is held by the wealthiest 10 percent of the population.”
I’ll readily admit that I’m not an economist, but to me, a 10 percent disparity in the two figures is significant. It sounds so much more alarming to hear that the 10 percent hold 90 percent, than to hear that 10 percent hold 80 percent. Just thinking and wondering.
Donald E. Litwiller