Letter from USC resident
Are you a 401k Voter, then you need to read this.
Trump supporters who call themselves “401k voters” say he’s delivered stunning success, as measured by the true scorecard of capitalism, the stock market. Here are the facts: The Dow closed at 19,837 when Trump took office and 28,195 on 10/19/20. A 42% increase. Compare this with an equivalent time period for Obama/Biden (1/20/2009 to 10/19/2012), when the Dow soared from 7,949 to 13,343, a 62% increase. In Trump’s transactional terms, Joe Biden is the winner and Trump is the loser.
In addition, Forbes Magazine reports that the S&P 500 returned 182% for the full term of Obama/Biden, second only to the best post-WWII performance, under Democrat Bill Clinton (210%). They compare these record-setting results with a 118% return under Republican Ronald Regan, a loss of 20% under Richard Nixon, and the worst performance of all, when Republican George W. Bush delivered a stunning loss of 40%. To quote the Forbes analysis, “From 1952 through June 2020, annualized real stock market returns under Democrats have been 10.6% compared with 4.8% for Republicans.”
So, if you value your 401k plan, vote for Democratic candidates, including a proven stock market winner, Joe Biden.