401k s.ks went straight down after Biden took office

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 401k s.ks went straight down after Biden took office

During his My Take Wednesday, host Stuart Varney talked about President Biden's economic policies on Americans' wealth, and argued that 401 k s went straight down after Biden took office.

STUART VARNEY: Anyone who owns a stock is feeling the pain. The rich, who own a lot of stock, are feeling a lot of pain.

The top one percent of income earners have lost $5 trillion in stock market wealth this year.

The top 10 percent have lost $8 trillion.

There is a political angle to this: the rich tend to vote Democrat. Here we have the wealthy, who did very well under the hated Trump, losing their shirts under Biden, their favorite.

The rich are no longer getting richer.

Their share of the nation's wealth is falling! You have to wonder if the Democrats can hold onto their wealthy voters.

The middle America is taking a hit, and come down the income scale.

A lot of people I know have stopped looking at their 401 k s. No wonder, your pension money is down 20 to 30 percent unless you are a very savvy investor.

The 401 k s went up under Trump. He often boasted about it. As you know, the stock market doesn't reflect the state of the economy, which is what Biden says. The economy is still strong. As you know, the stock market doesn't necessarily reflect the state of the economy. The economy is strong. The market sell-off should be a big issue in November s elections.

The voters want to know who is responsible for the wealth destruction.

The Democrats will have a hard time blaming Trump.

The Republicans have an easy target in Biden's failed policies.