Trump Takes Credit for Redistributing From Workers and Communities to Corporations

Donald Trump has been anxious to take credit for the sharp run-up in stock prices since his election. While it is not clear that anything really lies behind this run-up (remember Wall Street investors are the same folks who thought AOL.com was worth $250 billion back in 2001 and that subprime mortgage backed securities were perfectly safe assets), in principle stock prices are supposed to represent the present value of future corporate profits. If we assume that the rise in stock prices actua...