5.5% Of Invested Wealth Was Destroyed Today!

lol That should nip inflation in the bud!

Only if they cashed out.

Maybe a little tax increase would have been cheaper after all?

Those pesky rich folk deserve to lose their ill gotten money. This will help correct the wealth distribution inequity, Dems should be happy.

Its more like 10-12% in 3 days. ughhh

Joe wrote: Those pesky rich folk deserve to lose their ill gotten money. This will help correct the wealth distribution inequity, Dems should be happy.

Something tells me some very rich people aren't going to be too happy with the Tea Partiers after this.

Watch for capital loss tax writeoffs to emerge within the next few months......

The rich don't mind losing a little money ---- as long as they can profit from their losses.

AspenValley wrote:

Joe wrote: Those pesky rich folk deserve to lose their ill gotten money. This will help correct the wealth distribution inequity, Dems should be happy.

Something tells me some very rich people aren't going to be too happy with the Tea Partiers after this.

The flaw in that logic is that the very rich are blaming the TEA Party for the current situation instead of Democrats who have indebted the nation another $3 Trillion plus interest over the past couple of years keeping public sector union employees on the payroll and making sure they all got their raises. Not likely given that very rich people often also have a better understanding of economics than our current executive and nearly every member of Congress.

We should call up Paris Hilton and get her take on it, since she is presumably so much smarter...

Smarter than Odumbo? Without a doubt.

Perhaps you should get Paris Hilton to run as a Tea Party candidate then, Heartless.