Robert Reich: ‘Whole Country Ought to Be Part of’ Stock Market Gains

Robert Reich: Spread Ownership Because ‘Whole Country Ought to Be Part of’ Stock Market Gains (NewsBusters)

Former U.S. Labor Secretary Robert Reich made a very curious statement on Monday’s Morning Joe. During a roundtable discussion on income inequality, former congressman Harold Ford Jr. (D-Tenn.) asked Reich what policies, besides raising the minimum wage, the government should employ in order to improve economic mobility and increase middle class purchasing power.

Reich, who is significantly to the left on economic issues, signaled his support for expanding the earned income tax credit, but then added that we should also “spread ownership,” asserting, “ [W]e really do have to spread, seriously, ownership because if most of the gains are coming from stock rate gains, the whole country ought to be part of that.”