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A comment on The wealthiest 10% of Americans own a record 89% of all U.S. stocks. Parent comment

Re:The wealthiest 10% of Americans own a record 89% of all U... by secabeen on Monday October 18, 2021 @11:56AM (#28906866)
True, but manyservices that Americans get from government comes from state and local government: schools, fire/police, etc. The feds dominate the national new coverage, but local government generally has a much larger affect on your day to day life.
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Re:The wealthiest 10% of Americans own a record 89% of all U... by flowerbeater on Monday October 18, 2021 @12:08PM (#28907058)
I've heard this trope before, but it doesn't seem true to me. The federal government's day-to-day services include universities (through student loans and grant funding), travel (domestic and international), the quality of food we eat, healthcare regulation, and nearly everything to do with employment.

The local governments seem to focus mostly on K-12 schools, and police/fire; plus some one-off errands like the DMV and liquor laws.

The amount of federal taxes I pay is a life-changing amount if I were to get it back in a single check every year, whereas the state/city taxes of sales+property+stateincome is maybe a quarter as much.

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